Navigation Links
MedCath Plans 60-bed Expansion at TexSAn Heart Hospital
Date:2/11/2008

Conversion of Shelled Space an Integral Part of MedCath's Growth Plans

CHARLOTTE, N.C., Feb. 11 /PRNewswire-FirstCall/ -- MedCath Corporation (Nasdaq: MDTH) and its physician partners today announced plans to double the number of inpatient beds at TexSAn Heart Hospital, San Antonio, Texas, creating a 120-bed acute care and heart hospital.

The expansion will convert approximately 36,130 square feet of shelled space into 60 inpatient beds, which will be used to expand the hospital's cardiovascular services and to accommodate other high-acuity services. Project cost will total approximately $10.75 million. Opening of the new section is scheduled for fall of 2008.

MedCath will make an additional equity investment in TexSAn related to the expansion, which will increase MedCath's ownership stake from 51.0% to 66.57%.

"The cost effective build-out of shelled space in selected markets is one of the key elements of our strategic growth plan," said Ed French, MedCath's President and Chief Executive Officer. "This expansion will provide needed capacity for our growing cardiovascular program as well as provide vital additional high-acuity services to the San Antonio area. A part of our company-wide strategy is to diversify services in several markets while continuing to expand our core competencies in heart care, and TexSAn's success and expansion is the best example of our continuing to move decidedly forward in meeting that goal."

The TexSAn plans follow a similar announcement last year at MedCath's Arkansas Heart Hospital, which converted 18,900 square feet of shelled space into 28 inpatient beds. The additional inpatient beds at Arkansas Heart Hospital became operational late January 2008.

"With today's announcement of the expansion of TexSAn Heart Hospital, we have announced in the last ten months expansion and development projects that will increase our consolidated bed count by over 50%," said French. "We are extremely pleased with the progress that we're making in growing our Company and expanding our services to a larger patient population."

TexSAn, opened in January 2004, is a licensed acute care facility with a primary focus on providing leading cardiovascular care to the Southwest Texas region. The hospital features four operating suites, four cardiac catheterization labs, a 10-bed day-patient area and an emergency department.

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 an interest 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 First Quarter Earnings
2. MedCath Corporation to Hold Conference Call on First Quarter Results
3. MedCath Corporation to Present at the 26th Annual JPMorgan Healthcare Conference
4. MedCath Corporation to Present at the BMO Capital Markets 2007 Focus on Healthcare Conference
5. MedCath Corporation Reports Fourth Quarter Earnings and Outlook for Fiscal 2008
6. AvMeds New 2008 Plans Priced 50% Less
7. CEO Addresses Georgia Business Leaders About Developing Pandemic and Business Continuity Plans
8. Pennsylvania Department of Aging Plans Town Meetings in Clarion and Pittsburgh to Gather Input for New State Plan on Aging
9. Survey: Massachusetts Employers, Employees Paying Most for Health Care Plans
10. Roche Plans to Complete Ventana Offer on February 7th
11. Medivation Plans to Initiate Pivotal Confirmatory Phase 3 Trial of Dimebon(TM) for Alzheimers Disease in Second Quarter of 2008
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/28/2017)... ... March 28, 2017 , ... Medforce ... is proud to announce it has joined the National Association for Home Care ... of chronically ill, disabled, and dying Americans of all ages and the caregiver ...
(Date:3/28/2017)... ... March 28, 2017 , ... WHO: , Dr. Paul ... , WHAT: , Medical doctors and PhD scientists will speak to the press on ... Trump in support of an independent vaccine safety commission. , WHERE: , Zenger ...
(Date:3/28/2017)... (PRWEB) , ... March 28, 2017 , ... ... in Wethersfield, Conn., has relocated its corporate headquarters to a new, more expansive ... , In October 2016, Qualidigm purchased a distressed office building in Wethersfield, ...
(Date:3/28/2017)... ... March 28, 2017 , ... The Executives, Staff & Clients of MGE: ... the Toys for Tots Literacy Campaign at their Semi-Annual Graduation and Fundraiser Event at ... the U.S. ranks at number 14 internationally in literacy. Statistically, a direct relation can ...
(Date:3/28/2017)... ... ... Public relations pros work hard to earn placements and build a ... results are clear, much of PR is hard to quantify. Goal-setting and measurement are ... firms should always take an all-inclusive approach that takes both traditional and non-traditional factors ...
Breaking Medicine News(10 mins):
(Date:3/28/2017)... TAIPEI, Taiwan , March 28, 2017 /PRNewswire/ ... medical device company, is pleased to announce ... Series A investment of Panther Orthopedics, Inc., a ... pioneering innovative dynamic fixation solutions for orthopedic extremity ... market continues to expand rapidly, primarily due to ...
(Date:3/28/2017)... , March 28, 2017  Today, Allergy & ... a new white paper to underscore the significant ... in healthcare. Specifically, there is substantial confusion as to the ... has urged manufacturers to drop the term "latex free" or ... the challenge to ensure a product is completely devoid of ...
(Date:3/28/2017)... Kingdom and  BOSTON , March 28, 2017 ... Linguamatics today announced a partnership with premium ... agreement allows pharmaceutical companies to extract key insights ... text mining technology. The Linguamatics ... the top 20 global pharmaceutical companies. The Linguamatics-Dow ...
Breaking Medicine Technology: