Business
Medical Facilities Corporation Announces Sale of Oklahoma Spine Hospital, LLC and The Surgery Center of Newport Coast, LLC
Medical Facilities Corporation Announces Sale of Oklahoma Spine Hospital, LLC and The Surgery Cen...
About this update from Medical Facilities Corporation
[{"type":"text","content":"\n\n\nMedical Facilities Corporation Announces Sale of Oklahoma Spine Hospital, LLC and The Surgery Center of Newport Coast, LLC\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\nCanada NewsWire\n\n\nTORONTO, Feb. 2, 2026 /CNW/ - Medical Facilities Corporation (\"MFC\" or the \"Corporation\") (TSX: DR), announced that its wholly-owned subsidiary, Medical Facilities (USA) Holdings Inc. (\"MFH\"), has completed the sale of its 63.95555% interest in Oklahoma Spine Hospital, LLP (\"OSH\"), located in Oklahoma City, OK, to SSM Health Care of Oklahoma, Inc. (\"SSM\") and an entity owned by OSH's physician partners. SSM and the physician partners acquired 55.50032% and 8.45523%, respectively, of the equity securities of OSH, for a total purchase price of $46.0 million, subject to customary purchase price adjustments (the \"Transaction\"). All amounts are expressed in U.S. dollars.\n\"We sincerely thank our partners at SSM and the OSH physicians for their collaboration on this transaction,\" said Jason Redman, President and CEO of MFC. \"We are pleased to have worked alongside such a talented group to achieve our shared goals and remain confident that OSH is well positioned for future success under SSM's leadership.\"\nAdina Storch, Chair of the Board of Directors of MFC, noted \"This transaction aligns with MFC's strategic direction, allowing us to maximize the return of capital to our shareholders and to focus on our core assets. This divestiture enables us to continue delivering high-quality healthcare services in our key markets while creating value for our shareholders.\"\nFor the fiscal year ended December 31, 2024, excluding government stimulus income, OSH generated facility service revenue of $76.4 million and income from operations of $6.7 million, representing 23.0% and 13.6% of MFC's consolidated facility service revenue and income from operations, respectively.\nThe Corporation also completed the sale of its ambulatory surgery center, The Surgery Center of Newport Coast, LLC d/b/a Newport Center Surgical, located in Newport Beach, CA, to Newport Center GK, LLC for $1.5 m...