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Medical Facilities Corporation Announces Sale of Ambulatory Surgical Center
Medical Facilities Corporation Announces Sale of Ambulatory Surgical Center Canada...
About this update from Medical Facilities Corporation
[{"type":"text","content":"\n\n\n\nMedical Facilities Corporation Announces Sale of Ambulatory Surgical Center\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\n\nCanada NewsWire\nTORONTO, Jan. 22, 2020\n\n\n\nTORONTO, Jan. 22, 2020 /CNW/ - Medical Facilities Corporation (TSX: DR) (\"Medical Facilities\" or the \"Company\") announced today that it has sold its interest in Central Arkansas Surgical Center for an undisclosed amount. Medical Facilities had acquired its interest in the ambulatory surgery center (\"ASC\") through its joint venture formed with NueHealth, LLC in early 2018.\n\"The sale of our interest in Central Arkansas Surgical Center to local investors is a win-win for all involved,\" said Robert Horrar, President and CEO of Medical Facilities. \"Despite top notch standard of care and high patient satisfaction ratings, the facility was not a long-term strategic fit for MFC. As such, this was an opportunity for us to realign our ASC portfolio. We remain focused on strengthening our foundation, and this transaction is consistent with our objectives of improving profitability and strengthening our balance sheet.\"\nAbout Medical Facilities CorporationMedical Facilities, in partnership with physicians, owns surgical facilities in the United States. Medical Facilities' portfolio includes controlling interest in five specialty surgical hospitals located in Arkansas, Indiana, Oklahoma, and South Dakota, and an ambulatory surgery center located in California. In addition, through a partnership with NueHealth LLC, Medical Facilities owns controlling interest in six ambulatory surgery centers located in Michigan, Missouri, Nebraska, Ohio, Oregon, and Pennsylvania. The specialty surgical hospitals perform scheduled surgical, imaging, diagnostic and other procedures, including primary and urgent care, and derive their revenue from the fees charged for the use of their facilities. The ambulatory surgery centers specialize in outpatient surgical procedures, with patient stays of less than 24 hours. For more information, please visit www.medicalfacilitiescorp.ca.\nCaution concerning forward-looking st...