MedCath Corp.

MedCath Corp.
MedCath Corporation
Type Public (NASDAQ: MDTH)
Industry Health care
Founded 1988
Headquarters Charlotte, North Carolina, U.S.
Key people O. Edwin French, CEO
Joan McCanless, Senior Vice President and Chief Clinical and Compliance Officer
J. Arthur Parker, Executive Vice President and COO
Products Cath labs, nuclear cardiology, cardiac hospitals
Revenue increase$88.9 million USD (2010)[1]
Net income increase$48.465 million USD (2010)[1]
Employees 3,299 (Sept. 30, 2009)
Website medcath.com

MedCath Corporation (NASDAQ: MDTH) is an American public company which provides cardiac health care. The company was founded in 1988 as MedCath Partners, a for-profit corporation which offered cath lab, nuclear cardiology, and sleep medicine services. In 1999, the company began opening and operating acute care cardiac hospitals.

In the early months of 2005, MedCath significantly shifted its corporate strategy. Instead of building cardiac hospitals and seeking physicians to invest in them, MedCath began partnering with existing hospitals or health care systems to expand existing cardiac care units or build new cardiac care units in existing hospitals.[2] The strategy proved highly popular with stockholders, and the company stock price rose to $31.80 in September 2006 from a low of $14 a share in May 2006.[2] Industry observers credited the shift in strategy to the company's chief executive officer, O. Edwin French, who took over leadership of MedCath in February 2006 (he'd previously been president of the acute care hospital division of Universal Health Services).[2] French hired Phil Mazzuca (formerly with Iasis Healthcare) as chief operating officer.[2]

On May 5, 2011, in a deal worth $25 million, MedCath sold most of its assets to a joint venture of LifePoint Hospitals and Duke University Health System.[3]

References

  1. ^ a b MedCath Corporation. Form 10-Q. EIN: 56-2248952. December 31, 2010.
  2. ^ a b c d London, Ashley M. "MedCath's Shift in Strategy Is What the Doctor Ordered." Charlotte Business Journal. September 18, 2006.
  3. ^ "Duke, LifePoint Joint Venture Buys MedCath Division." Triangle Business Journal. May 5, 2011.
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