MedCath Corp., Charlotte, N.C., says it will begin construction in early 2008 on a general acute-care hospital in Arizona with a total development cost of about $68.5 million. Expected to be completed in the fall of 2009, the nearly 200,000-square-foot Hualapai Mountain Medical Center in Kingman will have 72 beds with space for an additional 33. Physicians will collectively own about 21.9% of the limited-liability company that will own the hospital, while MedCath will own the remaining 78.1%. The Northwestern Independent Physician Association represents the physician group that will develop the facility jointly with MedCath. Paul Kalanithi, an interventional cardiologist and president of the group, said in a news release that for several years, the association has wanted to develop a hospital in which physicians hold leadership roles in decisionmaking and operations. The new Hualapai Medical Center accomplishes our goal. We will participate in shared governance with MedCath, and we will be involved in all aspects of the hospitals development, from conceptual design through service development, Kalanithi said in the release. MedCath said it expects the new hospitals net revenue to be in a range of $45 million to $50 million in fiscal 2010, and between $60 million and $65 million in 2011. MedCath owns interests in and operates 11 hospitals in Arizona, Arkansas, California, Louisiana, New Mexico, Ohio, South Dakota and Texas.
Docs to own piece of MedCath hospital in Ariz.
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