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Medical Facilities Corporation completes sale of Integrated Medical Delivery, LLC
Medical Facilities Corporation completes sale of Integrated Medical Delivery, LLC ...
About this update from Medical Facilities Corporation
[{"type":"text","content":"\n\n\n\nMedical Facilities Corporation completes sale of Integrated Medical Delivery, 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\n\n\nCanada NewsWire\nTORONTO, June 4, 2018\n\n\n\nTORONTO, June 4, 2018 /CNW/ - Medical Facilities Corporation (\"Medical Facilities\" or the \"Corporation\") (TSX: DR) announced today that it has completed the sale of Integrated Medical Delivery, LLC (IMD) to N. Harris Computer Corporation (\"N. Harris\"). IMD was 51 percent owned by Medical Facilities and generated $5.0 million of revenue in 2017. N. Harris is a wholly-owned subsidiary of Constellation Software Inc. that provides software solutions to the public sector, schools, utility, and healthcare agencies.\n\n\"Divesting IMD allows us to focus our efforts on growing our core business of partnering with physicians to own and operate high quality healthcare facilities,\" said Robert O. Horrar, President and CEO of Medical Facilities. \"IMD will continue to be a key service provider to Oklahoma Spine Hospital and we expect to maintain a strong working relationship.\"\n\n\"We are pleased to become part of the Harris family of companies and look forward to incorporating its broad expertise in the healthcare sector into innovative solutions for our clients,\" added Debra Z. Nussbaum, Chief Operating Officer of IMD. \n\nAbout Medical FacilitiesMedical 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 majority interest in seven ambulatory surgery centers located in Arkansas, 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 ambulator...