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Medical Facilities Corporation Reports Fourth Quarter and 2015 Financial Results
Medical Facilities Corporation Reports Fourth Quarter and 2015 Financial Results M...
About this update from Medical Facilities Corporation
[{"type":"text","content":"\n\n\n\nMedical Facilities Corporation Reports Fourth Quarter and 2015 Financial Results\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\nMedical Facilities Corporation Reports Fourth Quarter and 2015 Financial Results\nCanada NewsWire\nTORONTO, March 17, 2016\n\n\n\nTORONTO, March 17, 2016 /CNW/ - Medical Facilities Corporation (\"Medical Facilities\" or the \"Company\") (TSX: DR), announced today its financial and operating results for the fourth quarter and year ended December 31, 2015.  All amounts are expressed in U.S. dollars unless indicated otherwise.\n\nFull Year 2015 Summary\n\n\nConsolidated facility service revenue from continuing operations of $308.8 million, up 3.8% as compared with $297.4 million in 2014 \nConsolidated income from continuing operations of $74.7 million, up 12.0% as compared with $66.7 million in 2014 \nCash available for distribution1 of Cdn$45.9 million, up 10.8% as compared with Cdn$41.4 million in 2014 \nPayout ratio1 of 76.7% as compared with 85.2% in 2014\n\nFourth Quarter 2015 Summary\n\n\nConsolidated facility service revenue from continuing operations of $89.8 million, up 8.9% as compared with $82.5 million in Q4 2014 \nConsolidated income from continuing operations of $27.8 million, up 25.7% as compared with $22.1 million in Q4 2014 \nCash available for distribution1 of Cdn$12.6 million, up 3.0% as compared with Cdn$12.2 million in Q4 2014 \nPayout ratio1 of 69.7% as compared with 72.1% in Q4 2014\n\n\"2015 marked another year of strong results for Medical Facilities with the fourth quarter solidifying the growth trend built up over the year. Growth in the quarter was primarily driven by an increase in revenue from higher case volumes recorded by all our specialty surgical hospitals as well as from ancillary services such as imaging and primary and urgent care. In the context of the changing healthcare environment, we continue to augment revenue driven income growth with cost savings from strategic purchasing initiatives while remaining committed to delivering and enhancing high quality patient care. We are entering ...