MedCath Announces Extension of Tolling Agreement With U.S. Department of Justice
CHARLOTTE, N.C., Nov. 19, 2012 /PRNewswire/ — MedCath Corporation announced today that it has extended its Tolling Agreement with the U.S. Department of Justice (the “DOJ”) until April 30, 2013. The Tolling Agreement, which expired October 31, 2012, tolls or suspends the statute of limitations for allegations related to the DOJ’s industry-wide investigation of implantable cardioverter defibrillator (“ICD”) implantations. The DOJ requested that MedCath extend the Tolling Agreement until April 30, 2013 as the DOJ continues its investigation of the hospital industry’s compliance with Medicare coverage requirements for ICD procedures. MedCath continues to cooperate with the investigation.
MedCath Corporation, headquartered in Charlotte, N.C., was a health care provider focused on high acuity services with the diagnosis and treatment of cardiovascular disease being a primary service offering. Having now divested all of its hospitals and filed for dissolution, MedCath is focused on realizing the value of its remaining immaterial assets, making tax and regulatory filings, winding down its business affairs, managing its known and unknown contingencies, and seeking to make distributions, if any, to its stockholders as part of its plan of dissolution.
SOURCE MedCath Corporation