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Medical Facilities Corporation completes acquisition of seven ambulatory surgical centers
Medical Facilities Corporation completes acquisition of seven ambulatory surgical centers ...
About this update from Medical Facilities Corporation
[{"type":"text","content":"\n\n\n\nMedical Facilities Corporation completes acquisition of seven ambulatory surgical centers\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, Feb. 1, 2018\n\n\n\nTORONTO, Feb. 1, 2018 /CNW/ - Medical Facilities Corporation (\"Medical Facilities\" or the \"Corporation\") (TSX: DR) announced today that it has completed the previously announced acquisition of seven ambulatory surgery centers. The facilities were acquired through a joint venture formed with NueHealth LLC (\"NueHealth\"), 94.25 percent owned by Medical Facilities. The total purchase price was US$46.5 million and the Corporation's portion of the purchase price was funded by cash and a draw on its credit facility.\n\n\nThrough this transaction, the joint venture has acquired ownership interests in the following centers:\n\n\nBrookside Surgery Center (Battle Creek, Mich.)\nCentral Arkansas Surgical Center (Russellville, Ark.)\nCity Place Surgery Center (Creve Coeur, Mo.)\nEastwind Surgical (Westerville, Ohio)\nMiracle Hills Surgery Center (Omaha, Neb.)\nRiverview Ambulatory Surgical Center (Kingston, Penn.)\nTwo Rivers Surgery Center (Eugene, Ore.)\n\nThe centers provide medical procedures including orthopedic surgery, neurosurgery and pain management and combined have 26 operating/procedure rooms. In aggregate, the joint venture will own approximately 53 percent equity interest in the centers. NueHealth will provide day-to-day management and operations support to the centers, including accounting, materials management, payor contracting, benefits administration and billing and collections.\n\nAbout Medical FacilitiesMedical Facilities owns controlling interests in five specialty surgical hospitals located in Arkansas, Indiana, Oklahoma and South Dakota, as well as an ambulatory surgery center in California. The specialty hospitals perform scheduled surgical, imaging, diagnostic and other procedures, including primary and urgent care. The ambulatory surgery center specializes in outpatient surgical procedures, with patient stays of less than 24 hours. In addition, Medical Faciliti...