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Five parties vie for stake in Bakersfield Heart Hospital

Bakersfield.com, June 14, 2011

Five potential buyers were in line to acquire a controlling interest in Bakersfield Heart Hospital as recently as last month, according to a recent Securities and Exchange Commission filing. The North Carolina-based company that owns a 53.3 percent stake in the specialty hospital, MedCath Corp., has put its shares of Bakersfield Heart and at least three other hospitals up for sale as part of its plan to dissolve the company. MedCath, which reported losing $13.5 million in the first three months of this year, has a first mortgage and security interest in the hospital's assets, a May 27 SEC filing states. More than 40 local physicians own the other 46 percent of the hospital.