MedCath Corporation Forges New Agreement With Major Not-For-Profit Healthcare Network

CHARLOTTE, N.C., Nov. 19 /PRNewswire-FirstCall/ -- MedCath Corporation 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.

MedCath Corporation

CONTACT: John Casey, Chairman & Chief Executive Officer, or Tom Hearn,President, MDI, both of MedCath, at +1-704-708-6600