MedCath Corp., has announced plans to build a 32-bed, for-profit cardiovascular hospital in Glendale.
The hospital, the 12th for the Charlotte, N.C.-based firm, would be jointly owned and operated with local physicians and would be called The Heart Hospital of Milwaukee. It is scheduled to begin operations in the fall of 2003, located in the Estabrook Corporate Park.
MedCath said The Heart Hospital of Milwaukee would be its first hospital built with a new, lower-capital-cost configuration, and would have approximately $36 million in annual revenues when fully operational.
"More than 61 million Americans currently suffer from heart disease and that number is expected to grow as our population ages. A disease of this magnitude cannot be treated with a business-as-usual approach," said David Crane, MedCath president and CEO. "That’s why we are looking for ways to redefine the way cardiovascular care is delivered in this country and that’s why we’re so excited about this new facility in Milwaukee."
Dr. Bruce Wilson, one of the Milwaukee physicians partnering with MedCath, said "The excitement of this project always has been about establishing the highest quality of cardiovascular care in the region. This affords us an opportunity to carry out the tradition of MedCath hospitals which have become benchmark institutions immediately after opening. There is an absolutely different brand of health care that occurs in these hospitals due to their commitment to a system that connects staff and patients to a very personalized model."
MedCath owns and operates eight heart hospitals with a total of 460 licensed beds. They are located in Austin, Texas; Phoenix and Tucson, Ariz.; Little Rock, Ark.; Bakersfield, Calif.; Albuquerque, N.M.; Dayton, Ohio; and Sioux Falls, S.D.
MedCath has begun developing three additional hospitals, which will be located in Harlingen and San Antonio, Texas; and the North Shore region of New Orleans.
In addition to heart hospitals, MedCath provides cardiovascular care services through diagnostic and therapeutic facilities located in seven states and mobile cardiac catheterization laboratories at 39 hospitals. MedCath also provides consulting and management services tailored to cardiologists and cardiovascular surgeons.
January 18, 2002 Small Business Times, Milwaukee
