MedCath Corporation Announces Stock Repurchase Program
November 14 2007 - 1:04PM
PR Newswire (US)
CHARLOTTE, N.C., Nov. 14 /PRNewswire-FirstCall/ -- MedCath
Corporation (NASDAQ:MDTH), a healthcare provider focused on high
acuity healthcare services including the diagnosis and treatment of
cardiovascular disease, today announced its Board of Directors has
approved a stock repurchase program of up to $59.0 million. The
purchases will be made from time to time in the open market or in
privately negotiated transactions in accordance with applicable
federal and state securities laws and regulations. The extent to
which the Company repurchases its common shares and the timing of
such repurchases will depend upon stock price, general economic and
market conditions and other corporate considerations. The
repurchase program may be discontinued at any time. 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 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 and its subsidiary MedCath Partners manage the
cardiovascular program at various hospitals and 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 including, but not limited to, enactment of changes in
federal law that would limit physician hospital ownership. 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 Registration Statement on
Form S-3/A filed with the Securities and Exchange Commission on
March 29, 2007 and its Quarterly Report on Form 10-Q for the
quarter ended June 30, 2007. Copies of this registration statement
and Form 10-Q, including exhibits, are available on the internet
site of the Securities and Exchange Commission at
http://www.sec.gov/. DATASOURCE: MedCath Corporation CONTACT: O.
Edwin French, President-Chief Executive Officer, or James E.
Harris, Chief Financial Officer, both of MedCath Corporation,
+1-704-708-6600 Web site: http://www.medcath.com/
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