MDTH Medcath Corp. (MM)

Steve Puckett Resigns Position as MedCath Chairman CEO John Casey Adds Chairman Title CHARLOTTE, N.C., Aug. 12 /PRNewswire-FirstCall/ -- Stephen R. Puckett, Chairman of MedCath Corporation (NASDAQ:MDTH), has resigned from the company's board of directors, MedCath announced today. John Casey, MedCath's President and Chief Executive Officer, was named to the additional position of Chairman as his replacement. Puckett started MedCath in December 1988 to operate mobile catheterization labs, bringing complex cardiovascular diagnostics testing to rural areas. From these original diagnostics labs, MedCath has grown into one of the nation's leaders in providing cardiovascular care, owning and operating 13 hospitals in partnership with physicians, in addition to owning and/or managing 26 catheterization and diagnostic facilities focused on diagnosing and treating heart disease. Puckett served as MedCath's President and Chief Executive Officer until 2000. Since then, he has been MedCath's non-executive chairman. In 2002, Puckett founded another company, which acquires general acute care hospitals. In recent months, MedCath has begun to expand its strategy to include potential strategic ventures with community hospitals and selected opportunistic acquisitions. Puckett felt it appropriate to step aside as chairman of MedCath to avoid any potential conflict the two companies might encounter. "With MedCath's strategic shift, there is the potential that one day the two companies I chair could become competitors on a particular transaction," Puckett said. "Even though I am not active in the day to day management of MedCath, I feel it important for me to resign my position as Chairman of MedCath to eliminate any perceived conflicts. Having been intimately involved with MedCath since my founding of the company in 1988, I will miss my association with MedCath, but I leave knowing it has an excellent management team and will be very successful." Casey added, "I want to thank Steve Puckett for the vision that helped build this company. That vision has formed one of the most innovative hospital companies in the health-care industry. We wish him well in his future ventures, and we hope he takes a great deal of pride in the continuing success of MedCath." MedCath Corporation, headquartered in Charlotte, N.C., develops, owns and operates hospitals with a total of 759 licensed beds, located in Arizona, Arkansas, California, Louisiana, New Mexico, Ohio, South Dakota, Texas and Wisconsin. 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. MedCath also provides consulting and management services tailored to cardiologists and cardiovascular surgeons. DATASOURCE: MedCath Corporation CONTACT: John Casey, Chairman, 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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