MedCath Corp., Charlotte, N.C., said its net income more than doubled to $14 million, or 77 cents per share, in its second quarter ended March 31, from $5.6 million, or 47 cents per share, in the year-ago quarter. Revenue for the rapidly growing chain of heart hospitals rose roughly 28% to $131.7 million. During the quarter, MedCath settled a billing dispute with Sun Health Corp. after a favorable ruling from an arbitration panel. The settlement contributed about $5.9 million to MedCath’s net income. The company said it expects full-year net income of $14.2 million to $14.7 million and revenue of $454 million to $456 million. MedCath operates eight heart hospitals and has three additional facilities under development.
Settlement contributes to MedCath's income
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