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Medical Facilities Corporation Completes Real Estate Sale for $25 Million
Medical Facilities Corporation Completes Real Estate Sale for $25 Million Canada N...
About this update from Medical Facilities Corporation
[{"type":"text","content":"\n\n\n\nMedical Facilities Corporation Completes Real Estate Sale for $25 Million\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, July 2, 2020\n\n\n\nTORONTO, July 2, 2020 /CNW/ - Medical Facilities Corporation (\"Medical Facilities,\" \"MFC\" or the \"Corporation\") (TSX: DR) announced today that it has closed on the sale of the real estate assets underlying Unity Medical and Surgical Hospital. The agreement for the transaction was first announced on February 26, 2020. Gross proceeds of approximately $25 million will be used to reduce the outstanding balance on MFC's operating credit facility.\nAbout Medical Facilities\nMedical Facilities, in partnership with physicians, owns surgical facilities in the United States. MFC's portfolio includes controlling interest in four specialty surgical hospitals located in Arkansas, Oklahoma, and South Dakota, and an ambulatory surgery center located in California. MFC also has a non-controlling interest in a specialty surgical hospital in Indiana. 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 statements\nStatements made in this news release, other than those concerning historical financial information, may be forward-looking and therefore subject to various risks and uncertainties. Some forward-looking statements may be identified by words like \"may\", \"will\", \"anticipate\", \"estimate\", \"expect\", \"intend\", or \"continue\" or the negative thereof or similar variations. Certain material factors or assumpt...