<PAGE>   1
                                                                   EXHIBIT 10.41


                              EMPLOYMENT AGREEMENT


         THIS EMPLOYMENT AGREEMENT (the "Agreement") is made and entered into by
and between MEDCATH INCORPORATED, a North Carolina corporation (the "Company")
and R. WILLIAM MOORE, JR. ("Employee") and is effective the 1st day of August,
1999 (the "Effective Date").

                                    RECITALS:

         1.       Employee has been employed by the Company prior to the date
hereof;

         2.       Employer and Employee desire to continue Employee's employment
in accordance with the terms of this Employment Agreement which provides to
Employee new and additional consideration which was not previously provided to
Employee by the Company;

         NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, Employee and the Company hereby
agree as follows:

         1.       Employment. Employee shall be employed as the President of the
Hospital Division of the Company. For new and very valuable consideration
described herein, the Company shall continue to employ Employee and Employee
accepts employment upon the terms and conditions hereinafter set forth, with
such employment to commence on the Effective Date.

         2.       Duties. Employee shall be a full-time employee of the Company
and, accordingly, shall devote a commensurate amount of time and effort in the
performance of Employee's duties hereunder. Employee shall be the President of
the Hospital Division of the Company. Employee shall also have such other duties
as assigned to Employee from time to time by the President and other executive
officers of the Company. Employee shall remain a full-time resident of the
Charlotte, North Carolina metropolitan area.

         During the term of employment hereunder, Employee shall not be engaged
in any other business activity whether or not such business activity is pursued
for gain, profit, or other pecuniary advantage.

         3.       Compensation. For and in consideration of the services to be
rendered by Employee hereunder, the Company shall pay to Employee an annual
salary of Two Hundred Twenty Five Thousand Dollars ($225,000.00) ("Annual Base
Compensation") which shall be paid on a monthly basis unless otherwise agreed to
by the parties hereto. Employee's salary shall be reviewed by either the
President of the Company or other executive officers of the Company as
designated by the President from time to time. Employee shall also be eligible
to participate in an annual bonus compensation plan each year of employment. The
bonus plan will be based on factors relating to the success of the Company and
the Employee's performance. The award
<PAGE>   2

of any such bonus shall be subject to the discretion of the Company. Employee
will only be eligible for the bonus award if Employee is employed by the Company
on October 31 following the end of the year for which the bonus applies.

         4.       Miscellaneous Benefits. During Employee's employment, the
Company shall provide Employee with additional benefits substantially equivalent
to those which are generally provided to other similar employees of the Company.
The Company shall reimburse Employee for reasonable expenses incurred by
Employee in the course of Employee's employment with the Company provided those
expenses are consistent with reasonable policies established from time to time
by the Company.

         5.       Termination of Employment.

                  (a)      By the Company for Cause. The Company shall have the
         right to terminate Employee's employment for cause as provided herein
         by giving written notice thereof. "Cause" shall mean that Employee
         commits a willful act of fraud, dishonesty or disloyalty toward the
         Company; is convicted of criminal conduct resulting in a jail sentence
         (whether or not such sentence is suspended); engages in conduct
         significantly injurious to the Company monetarily; violates a material
         term of this Agreement including, but not limited to, failure to
         fulfill the duties assigned to Employee by the Company; becomes
         disabled; or submits a notice of resignation to the Company. Employee
         shall be deemed disabled if he has been unable, by reason of physical
         or mental infirmity to perform on a full-time basis his assigned
         responsibilities. The existence of disability shall be reasonably
         determined by the Board of Directors of the Company.

                  (b)      By the Company Without Cause. Subject to Section (d)
         below, the Company may terminate Employee's employment at any time
         without cause by giving Employee written notice thereof.

                  (c)      By Employee. Employee may terminate Employee's
         employment upon at least thirty (30) days' written notice either (i)
         for Good Reason, or (ii) for any other reason.

                           For purposes of this Agreement, "Good Reason" shall
         mean any of the following (without Employee's express prior written
         consent):

                           (i)      A substantial reduction by the Company of
                  Employee's duties or responsibilities, other than (a) as
                  approved by the current chief executive officer of the Company
                  (namely, Stephen R. Puckett) and (b) in connection with the
                  termination of Employee's employment by the Company for Cause,
                  by Employee without Good Reason or as a result of the
                  disability or death of Employee;

                           (ii)     A reduction by the Company in Employee's
                  Annual Base Compensation or an amendment to the terms of the
                  bonus plan in effect for senior


                                       2
<PAGE>   3

                  executives of the Company in which Employee participates on
                  the date hereof which would adversely affect the ability of
                  Employee to receive a bonus (except that the establishment of
                  the earnings per share or other performance targets to be set
                  by the Board annually shall not be deemed to constitute such
                  an amendment);

                           (iii)    A reduction or elimination of Employee's
                  eligibility to participate in any of Company's employee
                  benefit plans that is inconsistent with the eligibility of
                  similarly situated executives of the Company to participate
                  therein; or

                           (iv)     Any relocation to a primary workplace that
                  is more than fifty (50) miles from Employee's workplace in
                  effect as of the date of this Agreement.

                  (d)      Salary and Benefits.

                           (i)      Only if (x) the Company terminates
                  Employee's employment under this Agreement for any reason
                  other than Cause, or (y) the Employee terminates his
                  employment under this Agreement for Good Reason, then the
                  Company will continue to be liable for Employee's Annual Base
                  Compensation to be paid on a monthly basis for a period of
                  twelve (12) months following the date of termination, as long
                  as and only if Employee is not otherwise in default hereunder
                  during that period; provided, however, that Employee's salary
                  shall not be payable once Employee becomes employed
                  substantially full-time or otherwise earns, on a monthly
                  basis, at least 75% of Employee's monthly salary hereunder.

                           (ii)     Upon any termination of Employee's
                  employment for cause, Employee shall not be entitled to any
                  further salary, bonuses or benefits following the date of
                  termination of Employee's employment.

                           (iii)    Upon termination of Employee's employment
                  for any reason, Employee shall be entitled to receive only
                  such additional benefits which have accrued or become payable
                  to Employee prior to the end of Employee's actual employment.

                           (iv)     Upon termination, Employee shall not be
                  entitled to any additional salary or benefits other than those
                  accrued prior to the date of termination or as provided in
                  Section 5(d)(i) above, if any. Notwithstanding anything in
                  this Agreement to the contrary, no further salary or benefits
                  shall be due to Employee once Employee begins to receive the
                  proceeds of any disability insurance policy.

         6.       Confidentiality, Non-Disclosure and Non-Competition.

                  (a)      In General. For purposes of this Section 6, all
         references to the Company shall include all legal entities directly or
         indirectly affiliated with the Company, including but not limited to,
         its wholly-owned subsidiaries and the limited partnerships and limited


                                       3
<PAGE>   4

         liability companies which are owned all or in part by the Company or
         its subsidiaries and which in turn own or are developing the Company's
         affiliated heart hospitals. During the course of Employee's employment,
         Employee will be exposed and have access to substantial quantities of
         information (which information may be in any form whatsoever, including
         but not limited to information stored on a computer hard and floppy
         discs, compact discs, on electromagnetic tape, or electronically
         recorded) and technology (the "Confidential Information") relating to
         the Company's business that are valuable trade secrets or confidential
         information, including, but not limited to, information concerning
         customers, operations, pricing, technology, marketing strategies,
         methods of operations, management procedures and methods, design of
         facilities and terms of agreements to which the Company and its
         affiliates are a party, and the number of procedures, the types of
         procedures and the charges for the procedures performed at the heart
         hospitals or any other hospital or medical facility operated or managed
         by any legal entities directly or indirectly affiliated with the
         Company.

                  The Confidential Information was developed, compiled and/or
         tested by the Company at considerable amounts of money in building upon
         and expanding that Confidential Information. The Confidential
         Information enables the Company to conduct its business with success
         and with a competitive advantage as long as the Confidential
         Information remains not generally known to others, whether those others
         operate in direct competition with the Company or its customers or
         begin operations in geographical areas which are of interest to the
         Company, specifically within the United States.

                  Employee, by reason of Employee's role as an employee of the
         Company, is familiar with and has access to the Company's partners,
         customers and affiliated physicians and their needs and to the
         marketing and pricing pursued by the Company with respect to those
         partners, customers and affiliated physicians and the Company's
         products and services.

                  This Section is designed to prohibit Employee from using the
         Confidential Information and knowledge and relationships developed as
         an insider of the Company for Employee's own benefit or for the benefit
         of parties other than the Company. The Company would not give Employee
         access to the Confidential Information and authority without Employee's
         execution of this Agreement and Employee willingly signs this Agreement
         because Employee has received additional consideration to do so and
         because Employee believes Employee's relationship with the Company is
         and will be in Employee's own best interest. Both parties agree that
         the provisions of this Section 6 should be construed broadly in favor
         of the Company. In light of the foregoing, Employee agrees to the terms
         of subsection (b) and (c) below.

                  (b)      Confidential Information.  Employee promises that:

                           (i)      During or after termination of Employee's
                  relationship with the Company, Employee will not, directly or
                  indirectly, use, or disclose or make available to anyone
                  outside the Company, any Confidential Information; and


                                       4
<PAGE>   5

                           (ii)     He will take all reasonable precautions to
                  safeguard all Confidential Information at all times so that it
                  is not exposed to, or taken by, unauthorized persons, and,
                  when entrusted to Employee, will exercise Employee's best
                  efforts to assure its safekeeping.

                  (c)      Competition.

                           (i)      Employee agrees that:

                                    (A)      Employee will not, during the
                           period of Employee's employment with the Company,
                           engage or be interested, directly or indirectly, in
                           any manner, as a partner, shareholder, owner,
                           officer, director, advisor, consultant, agent,
                           employee or in any other capacity in any Competitive
                           Business; and

                                    (B)      In the event Employee's employment
                           with the Company ceases for any reason, Employee will
                           not engage in, for a period of eighteen (18) months
                           after that termination (the "Restrictive Period"), in
                           any manner directly or indirectly, whether as an
                           employee, officer, owner, partner, shareholder,
                           consultant, agent or in any other capacity, any
                           Competitive Business within the territory (the
                           "Restricted Territory") defined as within
                           seventy-five (75) miles of any of the following:

                                    (x)      the offices of the Company in
                           Charlotte, North Carolina;

                                    (y)      any hospital which is owned all or
                           in part or managed by the Company or its affiliates
                           during Employee's employment with the Company or
                           which the Company or its affiliates were actively
                           attempting to develop during such period of
                           employment;

                                    (z)      any medical practice,
                           catheterization laboratory or other medical facility
                           or service in each case owned (all or in part) or
                           managed by Company or its affiliates or to which the
                           Company or its affiliates provides consulting
                           services during Employee's employment with the
                           Company or which were actively being developed or
                           negotiated during such period of employment.

                           (ii)     For purposes of this subsection (c), a
                  "Competitive Business" shall include any of the following:

                                    (v)      any hospital which provides any
                           cardiology care or cardiovascular surgery services;


                                       5
<PAGE>   6

                                    (w)      any hospital which initiates a
                           cardiology care or cardiovascular surgery service or
                           program within one (1) year following Employee's
                           termination of employment with the Company;

                                    (x)      any business which operates, owns
                           or manages a cardiac catheterization laboratory or
                           any other cardiology or cardiovascular diagnostic or
                           therapeutic facility;

                                    (y)      any medical practice whose
                           physicians include, among others, cardiologists or
                           cardiovascular surgeons; and

                                    (z)      any physician practice management
                           company which has relationships or affiliations with
                           any medical practice that includes a cardiologist or
                           cardiovascular surgeon.

                  (d)      Non-Solicitation. Employee agrees that he will not,
         during the period of his employment with the Company, and for a period
         of twelve (12) months thereafter, directly or indirectly induce or
         solicit any employee of Company to leave his or her employment with
         Company during the term of such employee's employment and for a period
         of twelve (12) months thereafter.

         7.       Enforcement. If there is a breach or threatened breach of the
provisions of Section 6 of this Agreement, in addition to other remedies at law
or equity, the Company shall be entitled to injunctive relief. The parties
desire and intend that the provisions of Section 6 shall be enforced to the
fullest extent permissible under the law and public policies applied. If any
court of competent jurisdiction shall at any time deem or find any term of this
Agreement or any particular restrictive covenant contained in Section 6 too
broad, extensive or lengthy, such court is hereby authorized to "blue pencil"
this Agreement so that the other provisions of Section 6 shall nevertheless
stand, the Restricted Period shall be deemed to be the longest period
permissible by law under the circumstances and the Restricted Territory shall be
deemed to comprise the largest territory permissible by law under the
circumstances. The court in each case shall reduce the Restricted Period and/or
Restricted Territory and/or the scope of any Competitive Business to the maximum
permissible size, length or scope.

         8.       Notices. Any notice required or permitted to be given under
this Agreement shall be in writing and shall be sent by registered mail, by
other reasonable means of delivery providing overnight service, or by hand to
Employee at 9740 Providence Road West, Charlotte, North Carolina 28277; to the
Company at 7621 Little Avenue, Suite 106, Charlotte, NC 28226, Attention: David
Crane. Notice shall be deemed to have been given when deposited with the Postal
Service or other delivery service or, if delivered by hand, when received by the
addressee. A party may change the address to which notice it must be given by
advising the other parties in writing of the new address.


                                       6
<PAGE>   7

         9.       Waiver of Breach. The waiver by either party of a breach of
any provision of this Agreement by the other party shall not operate or be
construed as a waiver of any subsequent breach by the waiving party.

         10.      Assignment. The rights and obligations of the Company under
this Agreement shall inure to the benefit of and shall be binding upon the
successors and assigns of the Company. As a personal service contract the rights
and obligations of Employee under this Agreement may not be assigned by
Employee.

         11.      Entire Agreement. This Agreement sets forth the entire
understanding between the parties with respect to the subject matter hereof and
cannot be amended orally but only by a writing signed by the party against whom
enforcement of any waiver, change, modification, extension or discharge is
sought.

         12.      Applicable Law. This Agreement shall be construed in
accordance with the laws of the State of North Carolina applicable to contracts
made and to be performed in North Carolina, without reference to choice of laws
principles, and that law shall be applied in connection with its enforcement in
other states and jurisdictions to the fullest extent possible.

         13.      Counterpart Executions; Facsimiles. This Agreement may be
executed in any number of counterparts with the same effect as if all of the
parties had signed the same document. Such executions may be transmitted to the
parties by facsimile and such facsimile execution shall have the full force and
effect of an original signature. All fully executed counterparts, whether
original executions or facsimile executions or a combination, shall be construed
together and shall constitute one and the same agreement.

         14.      Attorneys Fees And Expenses. In the event either party hereto
makes or institutes a claim, demand, action, litigation, arbitration or other
proceeding relating to or arising out of the matters or relationships set forth
in or contemplated by this Agreement, (any such occurrence being referred to as
a "Dispute"), then the prevailing party in such Dispute shall be entitled to
recover from the other party hereto all reasonable attorneys fees and other
costs and expenses reasonably incurred by the prevailing party during the course
of such Dispute. Such amount shall be due and payable in full within three (3)
days following written demand therefore made by the prevailing party to the
other party hereto. A party hereunder shall be deemed to be a prevailing party
once a favorable finding, ruling, order, judgment, decision or other such action
is taken or entered in favor of one party which becomes unappealable. Without
limiting any other rights of the prevailing party hereunder, in the event that
in connection with a Dispute, the defending party makes a settlement offer which
is, in all material respects equal to or more valuable or favorable than the
terms upon which any such Dispute is ultimately decided, resolved or settled,
then the defending party shall be deemed to be a prevailing party under this
paragraph with respect to all of its reasonable attorneys' fees, costs and
expenses which it incurs after it makes such offer in writing to the other party
hereto.


                                       7
<PAGE>   8

         IN WITNESS WHEREOF, the parties hereto have executed this Agreement on
the following execution page(s) effective as of the day and year first above
written.

                                    MEDCATH INCORPORATED



  August 23, 1999                   By:    /s/ David Crane
-----------------                       ---------------------------------------
  Date
                                    Title: Executive Vice President
                                           ------------------------------------



  August 26, 1999                          /s/ R. William Moore, Jr.      (SEAL)
-----------------                   -------------------------------------
  Date                                     R. WILLIAM MOORE, JR.


                                       8