St David HealthCare will acquire the Heart Hospital of Austin as per an agreement with the latter's current manager and majority owner MedCath. The Heart Hospital of Austin has received the number one ranking in Texas for cardiovascular services.
THE ST DAVID HealthCare and MedCath Corporation announced today an agreement for the former to acquire the Heart Hospital of Austin. St David 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.
The acquisition would be finalized after the normal regulatory processes are completed.
O Edwin French, MedCath's president and chief executive officer said at a press conference, “"The Heart Hospital of Austin has helped distinguish MedCath, epitomizing our model of providing high-quality care in an efficient manner.”
The Heart Hospital of Austin has received the number one ranking in Texas for cardiovascular services for six consecutive years from HealthGrades, which is a leading independent health ratings organization.
Jon M Foster, president and chief executive officer of St. David's HealthCare said, “"This facility acquisition will complement the already exceptional cardiovascular programs currently operating throughout St David's HealthCare.”