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MedCath Corporation Reports First Quarter Earnings
Date:2/3/2010

CHARLOTTE, N.C., Feb 3  /PRNewswire-FirstCall/ -- MedCath Corporation (Nasdaq: MDTH), a healthcare provider focused on high acuity healthcare services, predominately the diagnosis and treatment of cardiovascular disease, today announced its unaudited operating results for its first quarter of fiscal 2010, which ended December 31, 2009.

First Quarter 2010 Highlights

  • Same facility hospital admissions and outpatient cases were up 2.0% and 5.8%, respectively, for the first quarter of fiscal 2010 compared to the same period of the prior year.  

  • Same facility hospital non-cardiovascular admissions increased 17% for the first quarter of 2010 compared to the same period of the prior year.  

  • Same facility hospital emergency department visits increased 14.7% in the first quarter of fiscal 2010 compared to the same period of the prior year.

References in this release to same facility results exclude the impact of Hualapai Mountain Medical Center (“HMMC”), our newest hospital located in Kingman, Arizona, for the first quarter of fiscal 2010, its first quarter of operations.  

First Quarter 2010 Results

MedCath’s net revenue for the first quarter of fiscal 2010 decreased 2.0% to $147.3 million from $150.2 million in the first quarter of fiscal 2009.  Contributing to the revenue decline was lower cases and net revenue related to cardiovascular services, primarily heart surgerie
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