MedCath enters into joint venture with Catholic Health East subsidiary

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MedCath Partners is participating in a new venture to manage the catheterization laboratories of St. Francis Healthcare Services of Wilmington, Del. The majority of the venture is owned by St. Francis Healthcare Services, and the balance is owned by local physicians and MedCath Partners.

St. Francis is a subsidiary of Catholic Health East, which includes 34 acute-care hospitals and dozens of other medical facilities across 11 eastern states. The joint venture will allow the facility to update its cardiac catheterization laboratories, according to St. Francis.

MedCath will make a capital investment of $540,000 in the venture and the other members will make pro rata capital contributions as well, according to the Charlotte, N.C.-based healthcare provider.