St. David's Health Care to Acquire the Heart Hospital of Austin
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St. David’s HealthCare to Acquire
the Heart Hospital of Austin
AUSTIN, Texas—St. David’s HealthCare and MedCath Corporation today
announced an agreement for St. David’s HealthCare to acquire the Heart
Hospital of Austin. St. David’s HealthCare is a multi-hospital regional
healthcare system based in Austin, Texas. MedCath, the current manager and
majority owner of the Heart Hospital of Austin, is based in Charlotte, North
Carolina.
“This facility acquisition will complement the already exceptional
cardiovascular programs currently operating throughout St. David’s
HealthCare,” said Jon M. Foster, president and chief executive officer of St.
David’s HealthCare. “One of the clinical areas St. David’s HealthCare has
continued to develop regionally is our cardiovascular service, which is stronger
than ever thanks to the outstanding care provided by our St. David’s
HealthCare-affiliated physicians and staff.”
The acquisition is expected to be finalized upon completion of the normal
regulatory approval process.
“The Heart Hospital of Austin has helped distinguish MedCath, epitomizing our
model of providing high-quality care in an efficient manner,” said O. Edwin
French, MedCath’s president and chief executive officer. “We’re proud of our
legacy there, and we wish the new owners much success.”
“The Heart Hospital of Austin has received the No.1-ranking in Texas for
cardiovascular services for six consecutive years from HealthGrades, a leading
independent health ratings organization,” David Laird, president and chief
executive officer of the Heart Hospital of Austin, said. “Joining St. David’s
HealthCare allows us to enhance the high-quality care that we have provided
our patients for years, further benefitting the community in Austin.”
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St. David’s HealthCare
With a total of 24 sites across the region, St. David’s HealthCare includes six of
the area’s leading hospitals and is one of the largest health systems in Texas.
Known for compassionate, high-quality care, the organization has been
recognized with the Texas Award for Performance Excellence, the
bestowed by the State of Texas based upon world-class quality measures.
Ranked in 2007, 2008 and 2009 as the top Austin-area employer among large
companies at the
event, St. David's HealthCare is the fifth-largest private employer in the Austin
area, with more than 6,200 employees and $3.1 billion in annual gross
revenues. For more information, please visit St.Davids.com.
MedCath Corporation
MedCath Corporation, headquartered in Charlotte, N.C., is a healthcare
provider focused on high acuity services with the diagnosis and treatment of
cardiovascular disease being a primary service offering. MedCath owns an
interest in and operates 10 hospitals with a total of 825 licensed beds, located
in Arizona, Arkansas, California, Louisiana, New Mexico, South Dakota and
Texas. In addition, MedCath and its subsidiary, MedCath Partners, provide
services in diagnostic and therapeutic facilities in various states. For more
information, please visit MedCath.com.
Heart Hospital of Austin
The uniquely designed 58-bed hospital offers a full range of cardiac services
and includes a 24-hour full service emergency center. Heart Hospital of Austin
provides comprehensive physician-directed and patient-centered care resulting
in excellent patient outcomes and satisfaction ratings. The hospital resulted
from the shared vision of Austin Heart Cardiologists, Cardiothoratic and
Vascular Surgeons Group of Austin and MedCath Corporation. Working with
hospital leadership, the groups created an atmosphere of quality resulting in
the No. 1-ranked heart program in Texas, six years in a row as ranked by
HealthGrades. In July 2009, a study funded by the Centers for Medicare and
Medicaid Services revealed the Heart Hospital of Austin as the leading hospital
in the United States for treatment of a heart attack. For more information,
please visit hearthospitalofaustin.com.