TORONTO, Feb. 26, 2016 /CNW/ - Medical Facilities Corporation (TSX: DR) ("Medical Facilities" or the "Corporation") is pleased to announce Stephen Dineley, FCPA FCA, has been appointed to the Board of Directors of Medical Facilities.
Mr. Dineley is a recently retired Partner who specialized in Assurance Services at KPMG. An expert in his field with 30 years as a Partner, Stephen's expertise and knowledge served him well as he has worked closely with clients from a multitude of sectors which include healthcare, real estate, financial institutions, natural resources, transportation and industrials.
From 1998 to 2000, Stephen held the position of Chief Financial Officer at Extendicare Inc., one of the leaders in Canada's senior housing sector. During his tenure at the company, he oversaw the integration of one its most significant nursing centre acquisitions as well as the sale of its institutional pharmacy business.
Currently, Mr. Dineley provides consulting services to an alternate mortgage lender based in Toronto and serves as an expert witness to a legal firm. He also serves as a director for the Bank of New York Trust Company Canada.
About Medical Facilities
Medical Facilities owns controlling interests in four specialty surgical hospitals located in South Dakota, Arkansas and Oklahoma, 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, and derive their revenue from the fees charged for the use of their facilities. The ambulatory surgery center specializes in outpatient surgical procedures, with patient stays of less than 24 hours. In addition, Medical Facilities owns controlling interest in a diversified healthcare service company located in Oklahoma City that provides third-party business solutions to healthcare entities such as physicians, facilities, and insurance companies. Medical Facilities is structured so that a majority of its available free cash flow from operations is distributed to the holders of its common shares in the form of dividends. For more information, please visit www.medicalfacilitiescorp.ca.
SOURCE Medical Facilities Corporation
For further information: Michael Salter, Chief Financial Officer, Medical Facilities Corporation, (416) 848-7380 or 1-877-402-7162, firstname.lastname@example.org; Renée Lam, Investor Relations, NATIONAL Equicom, (416) 848-1405, email@example.com