For The Record
Charlotte, N.C.-based MedCath Corp. (Nasdaq: MDTH) has received zoning approval to build the future Hualapai Mountain Medical Center in Kingman, Ariz., near the state’s border with Nevada. MedCath plans to start construction early this year and complete the 72-bed, 200,000 square foot cardiac hospital project by fall 2009. The facility would have space for an additional 33 beds in the future. The project is expected to cost $68.5 million, including pre-opening expenses of $5.5 million. The project calls for physician involvement in the ownership, as area doctors plan to have a 21.9 percent ownership stake in a limited liability company (LLC) that would own the hospital. MedCath would own 78.1 percent of the LLC…
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