MDTH Medcath Corp. (MM)

Robert S. McCoy, Jr., Former CFO of Wachovia Corporation, Elected to MedCath Corporation Board of Directors CHARLOTTE, N.C., Nov. 5 /PRNewswire-FirstCall/ -- MedCath Corporation , a national provider of cardiovascular services, today announced that Robert S. McCoy, Jr., recently retired vice chairman and former chief financial officer of Wachovia Corporation , has been elected to the MedCath board of directors. He has also been appointed to the board's audit committee. Prior to his retirement in August 2003, McCoy served as vice chairman of Wachovia and co-chaired the effort to integrate Wachovia and First Union Corporation after their merger in September 2001. Prior to the merger, he served as vice chairman and chief financial officer of Wachovia Corporation. McCoy had been with Wachovia since its 1991 acquisition of South Carolina National Corporation, where he served as president. Prior to that, he was a partner with Price Waterhouse (now PricewaterhouseCoopers). "Bob will make a tremendous addition to our already strong board," said John Casey, MedCath president and chief executive officer. "We value experienced, independent directors who will provide strategic guidance and strong corporate oversight. Bob's background as the chief financial officer of a major financial institution will be invaluable to MedCath." McCoy said he was attracted to MedCath because of the Charlotte-based company's reputation for delivering high quality cardiovascular care and its entrepreneurial history as a company with excellent growth opportunities. "MedCath's innovative model of delivering healthcare truly makes a difference in markets it serves, and its quality of care is a differentiator within the healthcare industry," he said. MedCath Corporation, headquartered in Charlotte, North Carolina, develops, owns and operates hospitals in partnership with cardiologists, cardiovascular surgeons and other physicians. While each of its 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 owns and operates 11 hospitals with a total of 667 licensed beds, located in Arizona, Arkansas, California, Louisiana, New Mexico, Ohio, South Dakota, Texas, and Wisconsin. Also under development are MedCath's twelfth and thirteenth hospitals, located in San Antonio, Texas and Lafayette, Louisiana. In addition to its hospitals, MedCath provides cardiovascular care services in diagnostic and therapeutic facilities located in several states and through mobile cardiac catheterization laboratories. MedCath also provides consulting and management services tailored to cardiologists and cardiovascular surgeons. DATASOURCE: MedCath Corporation CONTACT: John Casey, President & Chief Executive Officer, +1-704-708-6600, or James Harris, Chief Financial Officer, +1-704-708-6600, both of MedCath Corporation Web site: http://www.medcath.com/

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