SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) October 4, 1996
MEDCATH INCORPORATED
(Exact name of registrant
as specified in its charter)
North Carolina 33-85458 56-1635096
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
7621 Little Avenue, Suite 106, Charlotte, North Carolina 28226
(Address of principal executive offices)
Registrant's telephone number, including area code (704) 541-3228
Page 1 of 5
<PAGE>
Item 5. Other Events
On October 4, 1996 MedCath Incorporated announced that on October 1, 1996, the
Company closed the previously announced transaction with Heart Clinic, P.A.,
located in McAllen, Texas. Earlier, the Company announced that it had entered
into a long-term management contract with the Heart Clinic and, as part of the
agreement, the physicians of Heart Clinic entered into long-term exclusive
employment and non-competition contracts.
On October 7, 1996 MedCath Incorporated announced the opening of a new
outpatient cath lab pursuant to a long-term management agreement with Wake Heart
Associates based in Raleigh, Cary, Chapel Hill, and Smithfield, North Carolina.
Exhibits:
99.1 - Press Release dated October 4, 1996
99.2 - Press Release dated October 7, 1996
Page 2 of 5
<PAGE>
SIGNATURE Pursuant to the requirements of the Securities and Exchange Act
of 1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.
MEDCATH INCORPORATED
Date: October 11, 1996 By: /s/ Richard J. Post
--------------------------
Richard J. Post
Chief Financial Officer
/s/ Daniel L. Belongia
-------------------------
Daniel L. Belongia
Chief Accounting Officer
Page 3 of 5
Exhibit 99.1
MEDCATH CLOSES TRANSACTION WITH HEART CLINIC PHYSICIANS
Charlotte, North Carolina (October 4, 1996) A MedCath Incorporated
(Nasdaq/NM:MCTH) today announced that on October 1, 1996, the Company closed the
previously announced transaction with Heart Clinic, P.A., located in McAllen,
Texas. Earlier, the Company announced that it had entered into a long-term
management contract with the Heart Clinic and, as part of the agreement, the
physicians of the Heart Clinic entered into long-term exclusive employment and
non-competition contracts. Heart Clinic is composed of seven cardiologists, six
of whom are also investors in the Company's McAllen heart hospital. Heart Clinic
has four offices located in McAllen, Harlingen, Weslaco and Brownsville, Texas.
Stephen R. Puckett, president of MedCath, said, "We are pleased to have
been chosen by these seven cardiologists to manage their practice. They have a
well deserved reputation for delivering exceptional care. Obviously, this
association is especially meaningful to us because the Heart Clinic is in the
same market as our heart hospital located in McAllen, Texas."
MedCath Incorporated is a provider of cardiology and cardiovascular
services through the operation of specialized facilities and the management of
physician practices. The Company operates one specialty heart hospital and has
four additional heart hospitals under development, manages three medical
practices comprised of a total of 74 physicians, manages fixed-site cardiac
diagnostic and therapeutic centers, and owns and operates mobile cardiac
catheterization laboratories serving networks of hospitals.
Page 4 of 5
Exhibit 99.2
MEDCATH OPENS CATH LAB IN RALEIGH, NORTH CAROLINA
Charlotte, North Carolina (October 7, 1996) MedCath Incorporated
(Nasdaq/NM:MCTH) today announced the opening of a new outpatient cath lab
pursuant to a long-term management agreement with Wake Heart Associates based in
Raleigh, North Carolina. Wake Heart Associates is composed of ten cardiologists
with five offices located in Raleigh, Cary, Chapel Hill, and Smithfield, North
Carolina.
Founded in 1985, Wake Heart Associates continues to be the premier
cardiology practice in Raleigh and the greater Wake County market. Wake County's
population is greater than 500,000, and it is the second fastest growing county
in North Carolina.
Stephen R. Puckett, president of MedCath, said, "We are pleased to work
with such a high caliber group of cardiologists in a rapidly growing market.
This outpatient cath lab will enable Wake Heart Associates and MedCath to
deliver superior cardiovascular care in a cost-effective and patient-friendly
environment. The project should significantly add to the over 3,000
catheterization procedures that were performed in 1995 in MedCath labs operating
in North Carolina."
MedCath Incorporated is a provider of cardiology and cardiovascular
services through the operation of specialized facilities and the management of
physician practices. The Company operates one specialty heart hospital and has
four additional heart hospitals under development, manages three medical
practices comprised of a total of 74 physicians, manages fixed-site cardiac
diagnostic and therapeutic centers, and owns and operates mobile cardiac
catheterization laboratories serving networks of hospitals.
Page 5 of 5
