Business
First Choice Healthcare Solutions Reports Continued Profitability and Revenue Growth in Second Quarter 2016
First Choice Healthcare Solutions Reports Continued Profitability and Revenue Growth in Second Quarter 2016.
About this update from First Choice Healthcare Solutions, Inc.
[{"type":"text","content":"\n \n \n First Choice Healthcare Solutions Reports Continued Profitability and Revenue Growth in Second Quarter 2016\n \n \nFirst Choice Healthcare Solutions Reports Continued Profitability and Revenue Growth in Second Quarter 2016\n\nThree Month Revenues Increased 77% to $7.65 Million, up From $4.32 Million; Six Month Revenues Rose 118% to $14.90 Million From $6.83 Million\nQ216 Adjusted EBITDA* Increased to $838,000 From $124,000; Adjusted EBITDA* for the First Half of 2016 Rose to $2.06 Million From $772,000\n\n \n MELBOURNE, FL--(Marketwired - Aug 16, 2016) - 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 total musculoskeletal solutions with an emphasis on Orthopaedics, including spine care and treatment, today announced its second quarter results for the three and six months ended June 30, 2016.\n Chris Romandetti, Chairman, President and CEO of First Choice, stated, \"During the second quarter, our Company continued to benefit from high levels of execution at each of the Centers of Medical Excellence comprising our Melbourne, Florida platform. Our success in recruiting first rate Orthopaedic and Spine surgeons to our Melbourne practices, along with the addition of The B.A.C.K. Center and Crane Creek Surgery Center to our Melbourne platform, is helping to drive strong growth across several key metrics, including revenue, adjusted EBITDA and net income. Moreover, our strong cash position and operating leverage have begun to yield greater cost efficiencies and compelling expansion opportunities that should collectively serve to unlock strategic and financial benefits for our Company in coming quarters. We look forward to providing detailed insight into our results and growth initiatives on this morning's call.\"\n Financial Highlights for Three Months Ended June 30, 2016 Compared to Three Months Ended June 30, 2015:\n \n \n Total revenues rose 77% to a record $7,653,100 -- up from $4,324,315. The increase was mainly attributable to the integration of The B.A.C.K. Center (\"TBC\") and Crane Creek Surgery Center (\"CCSC\") into the First Choice platform, effective May 1, 2015 and October 1, 2015, respectively; as well as the addition of two ...