Exhibit 99.2

MEDCATH CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(Unaudited)

	Three Months Ended March 31,						Six Months Ended March 31,
	2011			2010			2011			2010
Net revenue	$	97,163		$	96,777		$	186,063		$	184,607
Operating expenses:
Personnel expense		33,859			33,150			66,313			64,786
Medical supplies expense		23,189			23,581			42,411			45,688
Bad debt expense		10,006			9,931			19,715			17,437
Other operating expenses		22,843			22,296			46,959			44,640
Pre-opening expenses		—			—			—			866
Depreciation		4,630			6,124			9,517			12,064
Impairment of long-lived assets		19,548			14,700			19,548			14,700
Loss (gain) on disposal of property, equipment and other assets		178			(69	)		271			27
Total operating expenses		114,253			109,713			204,734			200,208
Loss from operations		(17,090	)		(12,936	)		(18,671	)		(15,601	)
Other income (expenses):
Interest expense		(997	)		(1,054	)		(2,079	)		(1,999	)
Interest and other income		50			15			539			85
Gain on sale of unconsolidated affiliates		179			—			15,570			—
Loss on note receivable		—			(1,507	)		—			(1,507	)
Equity in net earnings of unconsolidated affiliates		1,258			3,092			1,860			4,608
Total other income (expense), net		490			546			15,890			1,187
Loss from continuing operations before income taxes		(16,600	)		(12,390	)		(2,781	)		(14,414	)
Income tax benefit		(7,695	)		(5,639	)		(3,213	)		(6,976	)
(Loss) income from continuing operations		(8,905	)		(6,751	)		432			(7,438	)
(Loss) income from discontinued operations, net of taxes		(1,401	)		(1,934	)		37,727			(3,064	)
Net (loss) income		(10,306	)		(8,685	)		38,159			(10,502	)
Less: Net income attributable to noncontrolling interest		(3,189	)		(2,524	)		(14,615	)		(3,364	)
Net (loss) income attributable to MedCath Corporation	$	(13,495	)	$	(11,209	)	$	23,544		$	(13,866	)
Amounts attributable to MedCath Corporation common stockholders:
Loss from continuing operations, net of taxes	$	(12,341	)	$	(8,970	)	$	(5,179	)	$	(10,872	)
(Loss) income from discontinued operations, net of taxes		(1,154	)		(2,239	)		28,723			(2,994	)
Net (loss) income	$	(13,495	)	$	(11,209	)	$	23,544		$	(13,866	)
(Loss) earnings per share, basic
Loss from continuing operations attributable to MedCath Corporation common stockholders	$	(0.61	)	$	(0.46	)	$	(0.26	)	$	(0.55	)
(Loss) income from discontinued operations attributable to MedCath Corporation common stockholders		(0.06	)		(0.11	)		1.43			(0.15	)
(Loss) earnings per share, basic	$	(0.67	)	$	(0.57	)	$	1.17		$	(0.70	)
(Loss) earnings per share, diluted
Loss from continuing operations attributable to MedCath Corporation common stockholders	$	(0.61	)	$	(0.46	)	$	(0.26	)	$	(0.55	)
(Loss) income from discontinued operations attributable to MedCath Corporation common stockholders		(0.06	)		(0.11	)		1.43			(0.15	)
(Loss) earnings per share, diluted	$	(0.67	)	$	(0.57	)	$	1.17		$	(0.70	)
Weighted average number of shares, basic		20,208			19,829			20,075			19,786
Dilutive effect of stock options and restricted stock		—			—			6			—
Weighted average number of shares, diluted		20,208			19,829			20,081			19,786

MEDCATH CORPORATION
CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)

	March 31,			September 30,
	2011			2010
	(Unaudited)
Current assets:
Cash and cash equivalents	$	119,735		$	33,141
Accounts receivable, net		49,748			43,811
Income tax receivable		—			6,188
Medical supplies		10,373			10,550
Deferred income tax assets		8,500			13,247
Prepaid expenses and other current assets		12,949			13,453
Current assets of discontinued operations		46,619			47,920
Total current assets		247,924			168,310
Property and equipment, net		153,469			182,222
Other assets		18,484			24,716
Non-current assets of discontinued operations		1,152			119,290
Total assets	$	421,029		$	494,538
Current liabilities:
Accounts payable	$	16,633		$	15,716
Income tax payable		3,205			—
Accrued compensation and benefits		14,775			16,418
Other accrued liabilities		15,503			16,663
Current portion of long-term debt and obligations under capital leases		32,793			16,672
Current liabilities of discontinued operations		14,174			35,044
Total current liabilities		97,083			100,513
Long-term debt		—			52,500
Obligations under capital leases		5,191			6,500
Other long-term obligations		2,804			5,053
Long-term liabilities of discontinued operations		—			35,968
Total liabilities		105,078			200,534
Commitments and contingencies
Redeemable noncontrolling interest		7,356			11,534
Stockholders’ equity:
Preferred stock, $0.01 par value, 10,000,000 shares authorized; none issued		—			—
Common stock, $0.01 par value, 50,000,000 shares authorized; 22,281,828 issued and 20,327,467 outstanding at March 31, 2011; 22,423,666 issued and 20,469,305 outstanding at September 30, 2010		216			216
Paid-in capital		458,573			457,725
Accumulated deficit		(116,247	)		(139,791	)
Accumulated other comprehensive loss		—			(444	)
Treasury stock, at cost;
1,954,361 shares at March 31, 2011 and September 30, 2010		(44,797	)		(44,797	)
Total MedCath Corporation stockholders’ equity		297,745			272,909
Noncontrolling interest		10,850			9,561
Total equity		308,595			282,470
Total liabilities and equity	$	421,029		$	494,538

MEDCATH CORPORATION
SELECTED OPERATING DATA
(In thousands, except per share data and selected operating data)
(Unaudited)

	Three Months Ended March 31,									Six Months Ended March 31,
	2011			2010			% Change			2011			2010			% Change
Statement of Operations Data:
Net revenue	$	97,163		$	96,777			0.4	%	$	186,063		$	184,607			0.8	%
Adjusted EBITDA (1)	$	9,770		$	9,033			8.2	%	$	15,575		$	13,882			12.2	%
Loss from operations	$	(17,090	)	$	(12,936	)		32.1	%	$	(18,671	)	$	(15,601	)		19.7	%
Loss from continuing operations, net of taxes	$	(12,341	)	$	(8,970	)		37.6	%	$	(5,179	)	$	(10,872	)		(52.4	)%
Loss per share from continuing operations, basic	$	(0.61	)	$	(0.46	)		32.1	%	$	(0.26	)	$	(0.55	)		(53.0	)%
Loss per share from continuing operations, diluted	$	(0.61	)	$	(0.46	)		32.1	%	$	(0.26	)	$	(0.55	)		(53.1	)%

(1) See Supplemental Financial Disclosure-Reconciliation of GAAP Financial Measures to Non-GAAP Financial Measures.

	Three Months Ended March 31,									Six Months Ended March 31,
	2011			2010			% Change			2011			2010			% Change
Selected Operating Data (a):
Number of hospitals		5			5						5			5
Licensed beds (c)		421			421						421			421
Staffed and available beds (d)		380			380						380			380
Admissions (e)		4,905			4,918			(0.3	)%		9,343			9,404			(0.6	)%
Adjusted admissions (f)		7,231			7,257			(0.4	)%		14,074			13,745			2.4	%
Patient days (g)		18,840			18,690			0.8	%		35,085			35,362			(0.8	)%
Adjusted patient days (h)		28,018			27,626			1.4	%		53,194			51,905			2.5	%
Average length of stay (days) (i)		3.84			3.80			1.1	%		3.76			3.76			0.0	%
Occupancy (j)		55.1	%		54.6	%					50.7	%		51.1	%
Inpatient catheterization procedures (k)		1,940			2,054			(5.6	)%		3,732			3,888			(4.0	)%
Inpatient surgical procedures (l)		1,187			1,171			1.4	%		2,219			2,259			(1.8	)%
Hospital net revenue	$	94,996		$	93,881			1.2	%	$	181,614		$	178,263			1.9	%
Combined Operating Data (b):
Number of hospitals		6			6						6			6
Licensed beds (c)		533			533						533			533
Staffed and available beds (d)		489			488						489			488
Admissions (e)		6,658			6,933			(4.0	)%		12,914			13,136			(1.7	)%
Adjusted admissions (f)		10,441			10,953			(4.7	)%		20,608			20,622			(0.1	)%
Patient days (g)		24,514			24,883			(1.5	)%		46,233			46,710			(1.0	)%
Adjusted patient days (h)		38,409			38,985			(1.5	)%		73,593			72,817			1.1	%
Average length of stay (days) (i)		3.68			3.59			2.5	%		3.58			3.56			0.6	%
Occupancy (j)		55.7	%		56.7	%					51.9	%		52.6	%
Inpatient catheterization procedures (k)		2,129			2,286			(6.9	)%		4,101			4,318			(5.0	)%
Inpatient surgical procedures (l)		1,603			1,553			3.2	%		3,054			3,002			1.7	%
Hospital net revenue	$	122,606		$	119,333			2.7	%	$	235,325		$	227,980			3.2	%

(a)	Selected operating data includes consolidated hospitals in operation as of the end of the period reported in continuing operations but does not include hospitals which are accounted for using the equity method or as discontinued operations in our consolidated financial statements.
(b)	Combined operating data includes hospitals in operation as of the end of the period reported in continuing operations including hospitals which are accounted for using the equity method in our consolidated financial statements.
(c)	Licensed beds represent the number of beds for which the appropriate state agency licenses a facility regardless of whether the beds are actually available for patient use.
(d)	Staffed and available beds represent the number of beds that are readily available for patient use at the end of the period.
(e)	Admissions represent the number of patients admitted for inpatient treatment.
(f)	Adjusted admissions is a general measure of combined inpatient and outpatient volume. We computed adjusted admissions by dividing gross patient revenue by gross inpatient revenue and then multiplying the quotient by admissions.
(g)	Patient days represent the total number of days of care provided to inpatients.
(h)	Adjusted patient days is a general measure of combined inpatient and outpatient volume. We computed adjusted patient days by dividing gross patient revenue by gross inpatient revenue and then multiplying the quotient by patient days.
(i)	Average length of stay (days) represents the average number of days inpatients stay in our hospitals.
(j)	We computed occupancy by dividing patient days by the number of days in the period and then dividing the quotient by the number of staffed and available beds.
(k)	Inpatients with a catheterization procedure represent the number of inpatients with a procedure performed in one of the hospitals’ catheterization labs during the period.
(l)	Inpatient surgical procedures represent the number of surgical procedures performed on inpatients during the period.

MEDCATH CORPORATION
SUPPLEMENTAL FINANCIAL DISCLOSURE — RECONCILIATION OF GAAP FINANCIAL MEASURES
TO NON-GAAP FINANCIAL MEASURES
(Unaudited)

The following table reconciles the loss from continuing operations, net of taxes attributable to MedCath Corporation’s common stockholders as derived directly from MedCath Corporation’s consolidated financial statements to Adjusted EBITDA for the three and six months ended March 31, 2011 and 2010.

	Three Months Ended March 31,						Six Months Ended March 31,
	2011			2010			2011			2010
	(in thousands)						(in thousands)
Loss from continuing operations, net of taxes	$	(12,341	)	$	(8,970	)	$	(5,179	)	$	(10,872	)
Add:
Income tax (benefit) expense		(7,695	)		(5,639	)		(3,213	)		(6,976	)
Net income attributable to noncontrolling interest		3,436			2,216			5,610			3,434
Equity in net earnings of unconsolidated affiliates		(1,258	)		(3,092	)		(1,860	)		(4,608	)
Interest and other income		(50	)		(15	)		(539	)		(85	)
Loss on note receivable		—			1,507			—			1,507
Gain on sale of unconsolidated affiliates		(179	)		—			(15,570	)		—
Interest expense		997			1,054			2,079			1,999
Loss (gain) on disposal of property, equipment and other assets		178			(69	)		271			27
Impairment of long-lived assets		19,548			14,700			19,548			14,700
Depreciation		4,630			6,124			9,517			12,064
Pre-opening expenses		—			—			—			866
Share-based compensation expense		922			1,217			2,854			1,826
Professional fees for strategic options process		1,582			—			4,144			—
Sales tax refunds, net		—			—			(2,087	)		—
Adjusted EBITDA	$	9,770		$	9,033		$	15,575		$	13,882

The following table reconciles MedCath Corporation’s diluted (loss) earnings per share from continuing operations, net of taxes attributable to MedCath Corporation’s common stockholders as derived directly from MedCath’s consolidated financial statements to Adjusted diluted earnings per share from continuing operations (inclusive of the effect of dilutive shares) for the three and six months ended March 31, 2011 and 2010.

	Three Months Ended March 31,						Six Months Ended March 31,
	2011			2010			2011			2010
Diluted (loss) earnings per share	$	(0.61	)	$	(0.46	)	$	(0.26	)	$	(0.55	)
Add:
Gain on sale of unconsolidated affiliates		(0.01	)		—			(0.47	)		—
Professional fees for strategic options process		0.05			—			0.13			—
Sales tax refunds		—			—			(0.06	)		—
Impairment of long-lived assets		0.59			0.60			0.59			0.60
Loss on note receivable		—			0.05			—			0.05
Share-based compensation expense		0.03			0.04			0.09			0.06
Pre-opening expense		—			—			—			0.02
Adjusted diluted earnings per share	$	0.05		$	0.23		$	0.02		$	0.18