MDTH Medcath Corp. (MM)

NASHVILLE, Tenn. and BAKERSFIELD, Calif., July 2, 2012 /PRNewswire/ -- The Cardiovascular Care Group (CCG) today announced it has finalized the acquisition of a majority interest in the Bakersfield (California) Heart Hospital from MedCath Corporation (NASDAQ: MDTH).  It marks the second major acquisition by CCG this year as it continues to build a national network of regionally integrated delivery systems focused upon providing optimal care to patients with cardiovascular disease.

"We are committed to building centers of excellence in cardiovascular care that will transform the delivery of heart care from today's fragmented and inefficient approach into an integrated patient-centric system with superior outcomes and lower costs.  We partner with exemplary practices and hospitals that value a team approach to care.  We have found just that sort of extraordinary team at the Bakersfield Heart Hospital," said Harry R. Jacobson, MD, Chairman of the CCG Board.

The 47 bed hospital is located mid-way between Fresno and Los Angeles in California's Central Valley.  Kern County is one of the region's fastest growing markets adding 18.3% to its population in just the past six years and serves a market of 1.3 million people.  Built in 1999 as a partnership between MedCath and a handful of visionary physicians, "the Bakersfield Heart Hospital has built an enviable track record for patient satisfaction, clinical quality and cost-efficiency, gaining widening recognition as one of California's best hospitals for heart care," said Steve Johnson, President of CCG.

"We have looked long and hard for the right sort of partner," said Randy Rolfe, President & CEO of Bakersfield Heart Hospital.  "We wanted to find someone who shared our philosophy of care, one who was devoted to exceptional clinical quality and one with the resources and the vision to help us build a world class delivery model.  We are firmly convinced that in CCG we have found that perfect partner.  This new agreement holds the promise of expanding cardiovascular services throughout the region."

"We are proud of the team we have assembled here and wanted to find a partner that valued our teamwork, our focus on patients and their well-being and on our commitment to innovation," said Dr. Brij Bhambi, the head of Central Cardiology. "The team at CCG understands cardiovascular care and has the talent, resources and experience to help us build a world-class heart hospital here in Bakersfield.  We will seek constructive engagement with local healthcare systems in our efforts to achieve superior cardiovascular care across the board."

About Cardiovascular Care Group:

Cardiovascular Care Group is a physician-led patient-centered company that partners with cardiovascular specialists and other physicians to design and build regional care delivery systems that integrate care across the continuum of cardiovascular care. Working closely with the existing healthcare network, CCG and its physician partners focus on coordinating the delivery of evidence-based cardiovascular care to achieve improved clinical outcomes, at lower costs and with improved quality of life for the patients they serve.

SOURCE Cardiovascular Care Group