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) March 4, 1997
MEDCATH INCORPORATED
(Exact name of registrant
as specified in its charter)
North Carolina 0-25176 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
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Item 5. Other Events
On March 4, 1997 MedCath Incorporated announced that the Arkansas Department of
Health completed its inspection of the Arkansas Heart Hospital and that all
conditions of compliance regarding Medicare regulations were met without
exception. Upon receiving the Medicare certification, the Company officially
opened the hospital, MedCath's second heart hospital. The Hospital is expected
to receive its Medicare provider number during the quarter ended June 30, 1997,
which will allow the hospital to begin billing for its services, retroactive to
the certification date of March 3, 1997.
Exhibits:
99.1 - Press Release dated March 4, 1997
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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: March 17, 1997 By: /s/ Richard J. Post
---------------------------
Richard J. Post
Chief Financial Officer,
Secretary and Treasurer
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Exhibit 99.1
MEDCATH'S ARKANSAS HEART HOSPITAL
RECEIVES MEDICARE CERTIFICATION AND OPENS ON SCHEDULE
Charlotte, North Carolina (March 4, 1997) -- MedCath Incorporated
(Nasdaq/NM:MCTH) today announced that the Arkansas Department of Health
completed its inspection of the Arkansas Heart Hospital on March 3, 1997, and
all conditions of compliance regarding Medicare regulations were met without
exception. Concurrent with receiving the Medicare certification, the Company
officially opened the hospital, MedCath's second heart hospital, on schedule
with Company expectations. Upon processing of the certification by the Health
Care Financing Administration (HCFA) regional office, the hospital will receive
its Medicare provider number which will then allow the hospital to begin billing
for its services retroactive to the certification date of March 3, 1997. The
Company expects that the hospital will receive the Medicare provider number
during the quarter ended June 30, 1997.
Stephen R. Puckett, president of MedCath said, "This certification is
an important event for our hospital which opened on schedule and began treating
patients on February 28, 1997. We are pleased with the efforts of our physician
partners and the team of dedicated health professionals who have worked so hard
over the past year. This certification is the critical milestone in the opening
of any new inpatient facility. With the hospital now open, our efforts to
improve the delivery of inpatient cardiac care is underway in Little Rock."
Statements contained in this press release which are not historical
facts may be considered forward-looking statements as that term is defined in
the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements are subject to risks and uncertainties which could cause actual
results to differ materially from those projected. Such risks and uncertainties
include construction and development risks associated with heart hospitals;
operating losses and negative cash flows during the initial operation of heart
hospitals; dependence on physician relationships; dependence on long-term
management contracts; fluctuations in quarterly operating results from
seasonality, population shifts, third-party payor mix, patient volumes,
operating costs and other factors; dependence on key management; as well as
other risks detailed in the Company's filings with the Securities and Exchange
Commission.
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 two specialty heart hospitals and has
four additional heart hospitals under development, manages three medical
practices comprised of a total of 76 physicians, manages fixed-site cardiac
diagnostic and therapeutic centers, and owns and operates mobile cardiac
catheterization laboratories serving networks of hospitals.
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