MedCath Announces Agreement With Duke Health Raleigh Hospital
October 07 2005 - 8:30AM
PR Newswire (US)
CHARLOTTE, N.C., Oct. 7 /PRNewswire-FirstCall/ -- MedCath
Corporation (NASDAQ:MDTH) announced an agreement with Duke Health
Raleigh Hospital (DHRH) in which MedCath will provide the services
of a cardiac catheterization laboratory in addition to DHRH's
existing lab. The agreement calls for MedCath to provide the
services of the cardiac catheterization lab inside Duke Health
Raleigh Hospital for a minimum of seven years. The catheterization
lab will be a part of the Duke Health Raleigh Cardiovascular
Center, recently opened in May 2004. The new lab will include
state-of-the-art technology and allow DHRH to expand cardiovascular
services. It is anticipated that this project could be completed as
early as January. Duke Health Raleigh Hospital is a 186-bed
acute-care facility located one block north of the beltline on Wake
Forest Road in North Raleigh. Duke Health Raleigh Hospital is part
of the Duke University Health System. An acute care hospital,
DHRH's range of services includes a 24-hour Emergency Department,
Intensive and Critical Care, Cancer Center, Cardiovascular Center,
Musculoskeletal Center, Diabetes Center and community education.
Duke and MedCath have further agreed that they will collaborate to
identify additional opportunities for the parties to work together
on other projects involving the provision of cardiovascular
services. "We are very pleased to be partnering with one of the
nation's leading healthcare networks," said Charlie Slaton,
MedCath's President and Chief Executive Officer. "We are gratified
that the Duke University Health System sees the value in our
approach and has the confidence that we will deliver similar
results here. This project is another example of MedCath partnering
with existing hospitals and health networks to help these
facilities grow their cardiovascular service lines." For the fourth
consecutive year, MedCath hospitals on average exhibited lower
mortality rates, shorter length of stays, and a higher percentage
of patients discharged to their homes instead of another healthcare
provider, compared with 1,013 peer community hospitals nationwide
that perform open- heart surgery. The study that demonstrated these
findings was conducted by The Lewin Group, Inc., a nationally
recognized consultant to the health and human services industries.
The study also demonstrated that MedCath has on average a higher
case mix for cardiac patients, which takes into account complexity
and severity. Over the past year, MedCath has begun partnering with
existing healthcare providers to support and grow their cardiac
care services, while continuing to operate heart hospitals around
the nation. In recent months, MedCath has formed strategic
alliances with Novant Health in North Carolina and Benefis
Healthcare in Great Falls, Mont., in addition to Duke University
Health System. MedCath Corporation, headquartered in Charlotte,
N.C., is a healthcare provider focused on the diagnosis and
treatment of cardiovascular disease. While each of its
majority-owned hospitals is licensed as a general acute care
hospital, MedCath focuses on serving the unique needs of patients
suffering from cardiovascular disease. Together with its physician
partners who own equity interests in them, MedCath currently owns
and operates twelve hospitals with a total of 727 licensed beds,
located in Arizona, Arkansas, California, Louisiana, New Mexico,
Ohio, South Dakota, and Texas. In addition to its hospitals,
MedCath provides cardiovascular care services in diagnostic and
therapeutic facilities located in various states and through mobile
cardiac catheterization laboratories. DATASOURCE: MedCath
Corporation CONTACT: Charlie Slaton, President & Chief
Executive Officer, or Tom Hearn, Chief Development Officer, of
MedCath Corporation, +1-704-708-6600
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