MedCath Corporation Forges New Agreement With Major Not-for-Profit Healthcare Network
November 19 2004 - 8:00AM
PR Newswire (US)
MedCath Corporation Forges New Agreement With Major Not-for-Profit
Healthcare Network CHARLOTTE, N.C., Nov. 19 /PRNewswire-FirstCall/
-- MedCath Corporation (NASDAQ:MDTH) announced today that it will
collaborate with Novant Health to provide the not-for-profit health
system with mobile cardiac catheterization laboratory services,
marking another significant milestone in MedCath's efforts to
deploy its innovative cardiovascular care delivery models by
entering into cooperative ventures with hospitals and hospital
networks. "These cooperative ventures mark a new way to leverage
the competitive advantages that we've developed over the years,"
said John Casey, MedCath's Chairman and Chief Executive Officer.
"Through these ventures, we are able to pair MedCath's expertise in
delivering cardiovascular care with the strengths of our partners,
allowing our partners to grow and expand their existing heart
programs. "We're particularly pleased to be working with a hospital
network with the scope and stature of Novant Health, one of the
leading not-for-profit systems in the Southeast," Casey said.
Through the agreement, MedCath and Novant will collaborate on
providing mobile cath lab services to hospitals in Elkin,
Thomasville and Mount Airy, N.C., and Galax, Va. Residents of these
communities will have improved access to Novant's cardiovascular
expertise. "We are pleased to be working together with MedCath to
improve the access of cardiac care in northwestern North Carolina
and southwestern Virginia," said Paul Wiles, Novant's President and
Chief Executive Officer. "We have been taking our new message to
potential partners for several months now," Casey said. "And we're
clearly picking up momentum. We expect to announce additional
ventures in the coming quarters." MedCath Corporation,
headquartered in Charlotte, N.C., develops, owns and operates
hospitals in partnership with physicians, most of whom are
cardiologists and cardiovascular surgeons. 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 13
hospitals with a total of 759 licensed beds, located in Arizona,
Arkansas, California, Louisiana, New Mexico, Ohio, South Dakota,
Texas and Wisconsin. 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. MedCath also provides consulting and
management services tailored to cardiologists and cardiovascular
surgeons. Novant Health is a non-profit healthcare system in
western North Carolina, serving people in 32 counties reaching from
southern Virginia to northern South Carolina. The healthcare system
consists of seven hospitals in the Triad and Charlotte markets:
Forsyth Medical Center, Medical Park Hospital, and Thomasville
Medical Center in the Triad market; Presbyterian Hospital,
Presbyterian Orthopaedic Hospital, Presbyterian Hospital
Huntersville and Presbyterian Hospital Matthews of the Charlotte
market. Other facilities and programs of Novant Health include
three philanthropic foundations, two nursing home and senior
residential facilities, physician clinics, outpatient surgery and
diagnostic centers, rehabilitation programs and community health
outreach programs. DATASOURCE: MedCath Corporation CONTACT: John
Casey, Chairman & Chief Executive Officer, or Tom Hearn,
President, MDI, both of MedCath, at +1-704-708-6600 Web site:
http://www.medcath.com/
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