Business
Medical Facilities Corporation Announces Acquisition of a 51% Interest in Integrated Medical Delivery, L.L.C.
Medical Facilities Corporation Announces Acquisition of a 51% Interest in Integrated Medic...
About this update from Medical Facilities Corporation
[{"type":"text","content":"\n\n\n\nMedical Facilities Corporation Announces Acquisition of a 51% Interest in Integrated Medical Delivery, L.L.C.\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nMedical Facilities Corporation Announces Acquisition of a 51% Interest in Integrated Medical Delivery, L.L.C.\nCanada NewsWire\nTORONTO, Jan. 14, 2016\n\n\n\nTORONTO, Jan. 14, 2016 /CNW/ - Medical Facilities Corporation (\"Medical Facilities\" or the \"Company\") (TSX: DR), announced today the Company has acquired a 51% controlling interest in Integrated Medical Delivery, L.L.C. (\"IMD\") for a cash purchase price of US$1.75 million. \n\nIMD is a diversified healthcare service company located in Oklahoma City that provides third-party business solutions to healthcare entities such as physicians, facilities, and insurance companies. This acquisition provides Medical Facilities with a platform to enhance services to its facilities and future acquisitions.\n\n\"I am very pleased to announce the addition of this accretive asset to our healthcare focussed portfolio. As we continue to grow our business, it is our intention to execute on healthcare opportunities that naturally complement the strategic direction and vision of our Company,\" said Seymour Temkin, interim CEO of Medical Facilities. \"IMD's commitment to provide effective and efficient delivery of business services to its healthcare clients is a natural enhancement and diversification to our current offerings.\"\n\n\"We are very excited by this strategic partnership with Medical Facilities as it provides us with significant growth opportunities,\" said Debra Z. Nussbaum, Chief Operating Officer of IMD. \"By leveraging Medical Facilities' strong brand recognition and reputation of providing high-quality patient care in the Midwest, we look forward to the opportunities for further expansion of our business.\"\n\nMedical Facilities continues to review and assess opportunities, internally and externally, that are accretive and a meaningful deployment of capital.\n\nAbout Medical FacilitiesMedical Facilities owns controlling interests in four speci...