MDTH Medcath Corp. (MM)

CHARLOTTE, N.C., April 5 /PRNewswire-FirstCall/ -- MedCath Corporation (NASDAQ:MDTH), together with its physician partners who have an ownership interest in Arkansas Heart Hospital, announced today plans to expand Arkansas Heart Hospital. The expansion would convert approximately 18,900 square feet of shelled space into 28 inpatient beds, add a 130-space parking garage to the campus and support the renovation of the hospital's annex building to accommodate non- clinical services. Project cost will total $7.5 million, of which $4.8 million is related to the bed expansion and the remainder to the parking garage construction and annex building renovation. The new beds are anticipated to be in service by Jan. 15, 2008, pending state regulatory approval. After construction is completed, Arkansas Heart Hospital will have 112 inpatient beds, 10 short-stay patient beds, six catheterization laboratories, and three operating suites. "The expansion of Arkansas Heart Hospital reflects MedCath's and our physician partners' desire to meet the growing demand for the hospital's cardiovascular care services," said Ed French, MedCath's President and Chief Executive Officer. "This also marks the first of MedCath's in-market growth projects whereby we intend to add patient capacity and services to three of our hospitals over the next two years. Once completed, the expansion of the three hospitals will add about 25 percent to our capacity with a relatively modest investment." MedCath Corporation, headquartered in Charlotte, N.C., is a healthcare provider focused primarily on the diagnosis and treatment of cardiovascular disease. MedCath focuses on serving the unique needs of patients suffering from cardiovascular disease. MedCath owns interests in and operates eleven hospitals with a total of 667 licensed beds, located in Arizona, Arkansas, California, Louisiana, New Mexico, Ohio, South Dakota, and Texas. In addition, MedCath manages the cardiovascular program at various hospitals operated by other parties. Further, MedCath provides cardiovascular care services in diagnostic and therapeutic facilities located in various states. DATASOURCE: MedCath Corporation CONTACT: O. Edwin French, President & Chief Executive Officer, or James E. Harris, Chief Financial Officer, of MedCath Corporation, +1-704-708-6600 Web site: http://www.medcath.com/

Copyright