Navigation Links
MedCath Announces Venture With Two New Jersey Hospitals
Date:2/19/2008

CHARLOTTE, N.C., Feb. 19 /PRNewswire-FirstCall/ -- MedCath Corporation (Nasdaq: MDTH) announced today that MedCath Partners, LLC has entered into a new strategic relationship with Solaris Health System of Edison, N.J.

MedCath Partners, LLC, will participate in a new venture to manage the catheterization laboratories of Solaris's two acute care hospitals, JFK Medical Center and Muhlenberg Regional Medical Center. Solaris, local cardiologists, and MedCath will own equal shares of the management company.

"Our partnership with MedCath will reinforce our commitment to providing quality and compassionate healthcare services to our diverse communities," said John P. McGee, President and Chief Executive of Solaris. "We value MedCath's experience in providing excellent cardiovascular services and maintaining strong relationships with the cardiologists. We are excited about using this venture as a way to continue to improve the scope and quality of cardiovascular services to the patients in our community."

Edison-based JFK Medical Center consists of a 399 bed teaching hospital and the adjacent 94 bed JFK Johnson Rehabilitation Institute. Muhlenberg Regional Medical Center is a 396-bed acute care facility in Plainfield, N.J., that provides inpatient and outpatient services in all major medical specialties. Solaris was created in 1997 when the two hospitals consolidated into one organization. The Solaris network also includes long-term care centers, assisted living communities and schools of nursing, medical imaging and therapeutic sciences.

"This venture with Solaris - MedCath Partners' third agreement announced since last summer - is a key element in our five-point strategic growth plan for MedCath," said Ed French, MedCath's President and Chief Executive Officer. "We are excited about the opportunity to work with such an excellent organization and high-quality physicians to expand this cardiac catheterization program in Central New Jersey."

MedCath will make a capital investment of approximately $1.0 million in the venture and the other members will make pro rata capital contributions as well. MedCath anticipates that this venture will add $0.02 earnings per diluted share annually.

MedCath Partners, LLC's primary focus is assisting healthcare organizations form joint ventures to manage hospital-based cardiac catheterization laboratories.

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 Corporation Reports Fourth Quarter Earnings and Outlook for Fiscal 2008
2. MedCath Corporation to Present at the BMO Capital Markets 2007 Focus on Healthcare Conference
3. MedCath Corporation to Present at the 26th Annual JPMorgan Healthcare Conference
4. MedCath Corporation to Hold Conference Call on First Quarter Results
5. MedCath Corporation Reports First Quarter Earnings
6. MedCath Plans 60-bed Expansion at TexSAn Heart Hospital
7. HHS Announces $75 Million in Supplemental Funding to States for Pandemic Flu Preparedness
8. CRC Health Group Announces Acquisition of Bayside Marin Recovery Center, San Rafael
9. UHW Announces: Antelope Valley Hospital Caregivers and Board Vote to Ratify First Union Contract With SEIU UHW-West
10. HEI, Inc. Announces Sale of RFID Division Assets
11. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Zyloprim(R)
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... ... June 26, 2016 , ... Many women ... diagnosed with endometriosis. These women need a treatment plan to not only alleviate ... that can help for preservation of fertility and ultimately achieving a pregnancy. The ...
(Date:6/25/2016)... ... 25, 2016 , ... Austin residents seeking Mohs surgery services, can now turn ... to Dr. Russell Peckham for medical and surgical dermatology. , Dr. Dorsey brings specialization ... selective fellowship in Mohs Micrographic Surgery completed by Dr. Dorsey was under the direction ...
(Date:6/25/2016)... ... , ... "With 30 hand-drawn hand gesture animations, FCPX users can easily customize ... Pixel Film Studios. , ProHand Cartoon’s package transforms over 1,300 hand-drawn pictures into ... Simply select a ProHand generator and drag it above media or text in the ...
(Date:6/25/2016)... ... June 25, 2016 , ... As a lifelong Southern Californian, Dr. Omkar ... M.D from the David Geffen School of Medicine at UCLA. He trained in Internal ... complete his fellowship in hematology/oncology at the UCLA-Olive View-Cedars Sinai program where he had ...
(Date:6/25/2016)... ... , ... On Friday, June 10, Van Mitchell, Secretary of the Maryland Department ... in recognition of their exemplary accomplishments in worksite health promotion. , The Wellness at ... Wellness Symposium at the BWI Marriott in Linthicum Heights. iHire was one of 42 ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... Research and Markets has announced ... Type (Organic Chemical (Sugar, Petrochemical, Glycerin), Inorganic Chemical), Functionality ... - Global Forecast to 2021" report to their ... global pharmaceutical excipients market is projected to reach USD ... in the forecast period 2016 to 2021. ...
(Date:6/23/2016)... LOS ANGELES , June 23, 2016 /PRNewswire/ ... (NASDAQ: CAPR ), a biotechnology company ... first-in-class therapeutics, today announced that patient enrollment in ... progrEssion in Duchenne) has exceeded 50% of its ... its enrollment in the third quarter of 2016, ...
(Date:6/23/2016)... and INDIANAPOLIS , June ... receiving a Lilly Diabetes Tomorrow,s Leaders Scholarship is any ... scholarship winners, announced today online at www.diabetesscholars.org ... type 1 diabetes stand in the way of academic ... supported the Foundation,s scholarship program since 2012, and continues ...
Breaking Medicine Technology: