Navigation Links
MedCath Announces Acquisition of Ownership in Arizona Cath Lab
Date:4/2/2008

CHARLOTTE, N.C., April 2, 2008 /PRNewswire-FirstCall/ -- MedCath Corporation (Nasdaq: MDTH) announced today that MedCath Partners, LLC has acquired a 27.4 percent interest in a joint venture known as Southwest Arizona Heart and Vascular Center, LLC. The joint venture provides cardiac catheterization lab services to Yuma Regional Medical Center (the "Hospital") in Yuma, Arizona under a Management and Service Agreement with the Hospital.

The joint venture will be owned by MedCath and Heart, Lung and Vascular Center of Yuma, Inc., a physician owned entity. The facility is located on the campus of Yuma Regional Medical Center, about 180 miles southwest of Phoenix.

As part of the agreement, MedCath Partners, LLC will assume management of the joint venture. MedCath will also work with the physicians and hospital to add additional capacity to the facility as well as work to add additional services to the outlying community.

"We are very pleased to announce this new partnership with Heart, Lung and Vascular Center of Yuma, Inc.," said Ed French, MedCath's President and Chief Executive Officer. "The top-quality medical staff and hospital and MedCath have a common belief that our collective strengths will add to an already- successful venture. This venture is the fourth added since last summer, confirming our belief that MedCath Partners is a key element in our strategic growth plan for MedCath."

"We are excited about the launch of this partnership with MedCath," said Dr. Khidir Osman with Heart, Lung and Vascular Center of Yuma, Inc. "MedCath clearly shares our commitment to deliver superior cardiovascular services to the Hospital and this region and bring our care to a growing number of patients."

MedCath acquired its 27.4 percent interest for $8.5 million and anticipates that the joint venture will add approximately $0.05 in diluted earnings per share annually.

MedCath Corporation, headquartered in Charlotte, N.C., is a healthcare provider focused on high acuity services with the diagnosis and treatment of cardiovascular disease being a primary service offering. MedCath owns interests in and operates ten hospitals with a total of 663 licensed beds, located in Arizona, Arkansas, California, Louisiana, New Mexico, Ohio, South Dakota, and Texas. In addition, MedCath and its subsidiary MedCath Partners provide services in diagnostic and therapeutic facilities in various states.

Parts of this announcement contain forward-looking statements that involve risks and uncertainties. Although management believes that these forward- looking statements are based on reasonable assumptions, these assumptions are inherently subject to significant economic, regulatory and competitive uncertainties and contingencies that are difficult or impossible to predict accurately and are beyond our control. Actual results could differ materially from those projected in these forward-looking statements. We do not assume any obligation to update these statements in a news release or otherwise should material facts or circumstances change in ways that would affect their accuracy.

These various risks and uncertainties are described in detail in "Risk Factors" in MedCath's Form 10-K filed with the Securities and Exchange Commission on December 14, 2007. A copy of this registration statement, including exhibits, is available on the internet site of the Securities and Exchange Commission at http://www.sec.gov .


'/>"/>
SOURCE MedCath Corporation
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. MedCath Enters Definitive Agreement to Sell Dayton Heart Hospital to Good Samaritan Hospital-Dayton
2. MedCath Corporation to Present at the Citi 2008 Small and Mid-Cap Conference
3. MedCath Corporation to Present at the Raymond James 29th Annual Institutional Investors Conference
4. MedCath Announces Venture With Two New Jersey Hospitals
5. MedCath Plans 60-bed Expansion at TexSAn Heart Hospital
6. MedCath Corporation Reports First Quarter Earnings
7. MedCath Corporation to Hold Conference Call on First Quarter Results
8. MedCath Corporation to Present at the 26th Annual JPMorgan Healthcare Conference
9. MedCath Corporation to Present at the BMO Capital Markets 2007 Focus on Healthcare Conference
10. MedCath Corporation Reports Fourth Quarter Earnings and Outlook for Fiscal 2008
11. Genoptix Announces 2008 Annual Stockholders Meeting and Date of Record
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/13/2017)... (PRWEB) , ... October 13, 2017 , ... ... DevOps and Agile Software Development, has been awarded a contract by the Center ... Purchase Agreement (BPA) aims to accelerate the enterprise use of Agile methodologies in ...
(Date:10/12/2017)... ... October 12, 2017 , ... CitiDent and San Francisco ... using cutting-edge Oventus O2Vent technology. As many as 18 million Americans are estimated ... in breathing. Oral appliances can offer significant relief to about 75 percent of ...
(Date:10/12/2017)... ... October 12, 2017 , ... The American College of Medical Informatics (ACMI) will ... during the Opening Session of AMIA’s Annual Symposium in Washington, D.C. AMIA’s Annual ... F. Collen, a pioneer in the field of medical informatics, this prestigious award is ...
(Date:10/12/2017)... ... ... HMP , a leader in healthcare events and education, today announced that ... ‘Best B-to-B Healthcare Website.’ Winners were announced during the Eddie & Ozzie Awards luncheon ... editorial and design excellence across a range of sectors. This year’s program included the ...
(Date:10/12/2017)... ... ... Health Literacy Innovations (HLI), creator of the Health Literacy ... Patient Education Network (CPEN), an independent professional organization that shares best practices in ... , As CPEN’s strategic partner, HLI will help support CPEN members by sharing ...
Breaking Medicine News(10 mins):
(Date:10/10/2017)... 10, 2017   West Pharmaceutical Services, Inc. ... injectable drug administration, today shared the results of a ... improving the intradermal administration of polio vaccines. The study ... in May 2017 by Dr. Ondrej Mach , ... Health Organization (WHO), and recently published in the journal ...
(Date:10/4/2017)... Oct. 4, 2017 OBP Medical ... illuminating medical devices, today announced regulatory approval from ... Agency (or Agência Nacional de Vigilância Sanitária (ANVISA)) ... cordless surgical retractor with integrated LED light source ... illumination and exposure of a tissue pocket or ...
(Date:10/2/2017)... 2017 The Rebound mobile app is poised to ... the tide of prescription drug addiction. The app empowers users ... and stepping down their dosage in a safe, controlled manner ... 2017; the first 100,000 people to sign up will enjoy ... ...
Breaking Medicine Technology: