Business
First Choice Healthcare Increases Line of Credit to $2.5 Million
First Choice Healthcare Increases Line of Credit to $2.5 Million.
About this update from First Choice Healthcare Solutions, Inc.
[{"type":"text","content":"\n \n \n First Choice Healthcare Increases Line of Credit to $2.5 Million\n \n \nFirst Choice Healthcare Increases Line of Credit to $2.5 Million\n \n MELBOURNE, FL--(Marketwired - Dec 18, 2015) - First Choice Healthcare Solutions, Inc. (OTCQB: FCHS) (\"FCHS,\" \"First Choice\" or \"the Company\"), one of the nation's only non-physician-owned, publicly traded healthcare services companies focused on the delivery of Orthopaedic care and treatment, today announced that its lender, CT Capital, LTD, has modified the accounts receivable line of credit established with the Company's wholly owned subsidiary, First Choice Medical Group of Brevard, LLC, increasing the line from $2 million to $2.5 million and extending the maturity date of the Loan Agreement to June 30, 2017. \n Christian Romandetti, President and CEO of First Choice, stated, \"In light of our Company's rapid growth -- as reflected in the 232% year over year revenue increase we reported for our third quarter, we are very pleased that we have succeeded in negotiating additional financial support from CT Capital. The increase in our credit line will serve to further strengthen our liquidity and enhance our ability to execute on prevailing growth initiatives while optimizing management of our monthly cash flow. We will continue to pursue the lowest cost of capital that will help fund our business expansion and create enduring shareholder value.\"\n For additional details, please refer to the Form 8-K to be filed later today with the U.S. Securities and Exchange Commission, found at www.sec.gov.\n About First Choice Healthcare Solutions, Inc.\n Headquartered in Melbourne, Florida, First Choice Healthcare Solutions (FCHS) is implementing a defined growth strategy aimed at building a national collective of world class medical centers of excellence in key expansion markets throughout the U.S. with concentration in neurology, orthopaedics, spine surgery and interventional pain medicine, as well as related ancillary care services. Serving Florida's Space Coast, the Company's flagship regional network currently administers over 100,000 patient visits each year and is comprised of First Choice Medical Group, The B.A.C.K. Center and Crane Creek Surgery Center. For more information, please visit www.myfchs.com, www.myfcmg.com, www.thebackcenter.net and www.cranecreeksurgerycenter.com....