MedCath Corp., Charlotte, N.C., opened its 13th cardiac-care hospital, 43-bed Heart Hospital of Lafayette (La.). The 60,000-square-foot hospital is MedCath's second in Louisiana. The opening, MedCath's fifth in 18 months, completes an accelerated development period that has been part of the company's long-term plan for several years. MedCath blamed hospital startup costs, as well as rising bad debt and supply expenses, for a net loss of $933,00 in its fiscal 2004 first quarter, ended Dec. 31, 2003. The company has said it may divest hospitals that don't meet its objectives for overall growth or financial return. -- by Julie Piotrowski
MedCath ends rapid-growth phase with La. opening
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