Former hospital executive John Casey is coming out of retirement to run heart hospital operator MedCath Corp., Charlotte, N.C. Casey was named president and CEO effective today, replacing David Crane, who resigned to pursue other interests, MedCath said. Casey has been a MedCath director for three years. Crane, 47, said in an e-mail that he won't begin to search for a full-time job until at least the start of 2004. Neither Crane nor Casey would say whether the resignation was initiated by the MedCath board or Crane. To be more successful, Casey said in an interview, MedCath needs to pay more attention to fundamentals on both costs and revenue. For the nine months ended June 30, MedCath earned $1.8 million, or 10 cents per share, compared with nearly $23 million, or $1.27 per share, in the year-ago period. Revenue for the nine months was $398.6 million, up 8.6%. MedCath operates nine specialty heart hospitals.
Casey confirmed that Tenet Healthcare Corp., Santa Barbara, Calif., contacted him as a possible candidate for its vacant CEO job, as Modern Healthcare reported in its Sept. 1 issue, but he said he did not pursue the position. Casey was president and COO of American Medical International (AMI) when National Medical Enterprises purchased AMI and renamed itself Tenet in March 1995. MedCath also announced that current Tenet executive Charles Slaton has been named executive vice president and COO, effective Oct. 15. Slaton, a senior vice president overseeing 15 Tenet hospitals in Texas and a former AMI executive, will replace Dennis Kelly, who was promoted to COO in June but now will return to his job as MedCath's chief development officer, the company said. -- by Vince Galloro