Navigation Links
MedCath Enters Definitive Agreement To Sell Heart Hospital of Austin

CHARLOTTE, N.C., Feb. 17 /PRNewswire-FirstCall/ -- MedCath Corporation (Nasdaq: MDTH) and its physician partners announced today that they have entered into a definitive agreement to sell substantially all the assets of Heart Hospital of Austin to St. David's Healthcare Partnership, L.P. ("St. David's"). The transaction is expected to close during MedCath's third fiscal quarter of 2010, subject to customary closing conditions and regulatory requirements.

The sale comes after Austin Heart, a leading cardiology practice and co-founder of Heart Hospital of Austin (along with MedCath and other physicians) integrated with St. David's. Beginning with its second quarter of fiscal 2010, which ends March 31, MedCath will account for Heart Hospital of Austin as an asset-held-for-sale for current and prior reporting periods.

Opened in 1998, Heart Hospital of Austin is a 58-bed hospital focused on providing cardiovascular care to the Austin community. The hospital has a longstanding reputation for excellent clinical quality and in November, it was one of four MedCath hospitals ranked among the nation's 100 Top Hospitals® for cardiovascular care -- the fifth time it earned that honor in the 11 years the study has been performed. In addition, Heart Hospital of Austin was one of three MedCath hospitals that received Excellence Awards from HealthGrades, the leading independent health care ratings organization. It was one of three MedCath hospitals cited among the leading hospitals in America by Consumers' Checkbook survey, according to the May/June 2009 issue of AARP The Magazine. And a USA Today analysis in July found that Heart Hospital of Austin had the nation's lowest death rate from heart attacks.

"Heart Hospital of Austin has helped distinguish MedCath, epitomizing our model of providing high quality care in an efficient manner," said O. Edwin French, MedCath's president and CEO. "We're proud of our legacy there, and we wish the new owners much success."

MedCath Corporation, headquartered in Charlotte, N.C., is a health care provider focused on high acuity services with the diagnosis and treatment of cardiovascular disease being a primary service offering.  MedCath owns an interest in and operates ten hospitals with a total of 825 licensed beds, located in Arizona, Arkansas, California, Louisiana, New Mexico, South Dakota, and Texas.  In addition, MedCath and its subsidiary MedCath Partners provide services in diagnostic and therapeutic facilities in various states.

SOURCE MedCath Corporation



SOURCE MedCath Corporation
Copyright©2010 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. MedCath Announces Venture With Two New Jersey Hospitals
8. MedCath Corporation to Present at the Raymond James 29th Annual Institutional Investors Conference
9. MedCath Corporation to Present at the Citi 2008 Small and Mid-Cap Conference
10. MedCath Enters Definitive Agreement to Sell Dayton Heart Hospital to Good Samaritan Hospital-Dayton
11. MedCath Announces Acquisition of Ownership in Arizona Cath Lab
Post Your Comments:
(Date:10/13/2015)... ... October 13, 2015 , ... Element Blue ... introduced a new company, RightSensor™ LLC, an Internet of Things (IoT) hardware supplier ... provides a fully-managed approach for customers requiring sensor hardware for critical data environments. ...
(Date:10/13/2015)... ... 13, 2015 , ... Relay (, a technology company that ... significant contract that will provide its award-winning private messaging solution to Independence Blue ... success of its Relay program, IBX Wire™, which now has over 550,000 members ...
(Date:10/13/2015)... ... October 13, 2015 , ... e-con Systems Inc., a leading embedded design ... the industry’s first RGB-IR pixel format camera with a USB 3.0 interface and ... See3CAM family of UVC USB 3.0 cameras, is based on the 1/3-inch OV4682 - ...
(Date:10/13/2015)... Tenn. (PRWEB) , ... October 13, 2015 , ... A ... and that’s why SmileCareClub , the leading remote invisible aligner system, has joined ... who would otherwise go without it. For each aligner treatment plan purchased, SmileCareClub will ...
(Date:10/13/2015)... ... October 13, 2015 , ... Protein is essential to good health. You ... and blood. But how much protein does the average man need in order to ... to the October 2015 issue of Harvard Men's Health Watch . Most Americans ...
Breaking Medicine News(10 mins):
(Date:10/13/2015)... , Oct. 13, 2015   Micell Technologies ... DESSOLVE I and II trials of its MiStent Sirolimus ... ® ) were presented at the 27th Annual ... San Francisco , October 11-15. TCT ... cardiovascular medicine. MiStent SES was designed to optimize vessel ...
(Date:10/13/2015)... -- Health Gorilla ( ) today announced the launch ... secure platform for clinical data and communications poised to change ... healthcare in the US. The launch follows the closing of ... of $4.4M raised to date, with Data Collective ... Harris Barton , Orfin Ventures and ...
(Date:10/13/2015)... 2015 China Jo-Jo Drugstores, Inc. ... "), a leading China-based retail, wholesale and online distributor ... online and retail pharmacies, announced preliminary half year fiscal ... pharmacy through , growing 438% year over ... China Jo-Jo,s online sales are ...
Breaking Medicine Technology: