MedCath Corp., Charlotte, N.C., said Banner Health, Phoenix, has purchased an Arizona cardiac center from a 60-40 partnership of MedCath and other investors, including physicians, for $16.9 million, effective Sept. 30. The Sun City (Ariz.) Cardiac Center is adjacent to 365-bed Banner Boswell Medical Center; Banner acquired the hospital last year, when it purchased two-hospital Sun Health.
MedCath bought its stake in the facility in 1992. In addition to its share of the sale proceeds, MedCath also will lease some of the center’s equipment to Banner for three years.
