HOUSTON, TX, Jan. 31, 2012 /CNW/ - Northstar Healthcare Inc. (TSX:NHC)
today announced that it has entered into a private placement agreement
with Kenneth M. Alo, M.D. Dr. Alo is a recognized leader in
interventional pain management who has built a worldwide reputation
developing minimally invasive procedures for the treatment of pain.
Dr. Alo also serves as a Medical Director of North American Spine, a
subsidiary of Athas Health LLC.
Northstar has entered into a relationship North America Spine. North
American Spine is a leading patient advocacy and marketing company
which partners with world-class physicians and facilities to assist
patients in finding solutions to their chronic back or neck pain.
"I am delighted to be collaborating with the relationships that Dr. Alo
has developed with North American Spine," said Dr. Kramer. "Dr. Alo's
vision for minimally invasive spine surgery is a leading trend in
outpatient surgery and the technology that he and North American Spine
are offering patients is something that we hope to adopt throughout
Northstar's centers. Dr. Alo's substantial equity purchase demonstrates
his commitment to Palladium for Surgery -Houston, LLP and its General
Partner, Northstar Healthcare," said Dr. Kramer. "Our relationship with
North American Spine creates excellent synergy between operational,
clinical and marketing know-how which will positively impact revenues."
"We are very excited about our new relationship with Northstar," said
Chris Lloyd, CEO of North American Spine. "Northstar's commitment to
partnering with world-class physicians couples perfectly with our
mission to assist patients in finding the most effective and
conservative treatments provided by innovative and patient-centric
spine care professionals".
Pending the approval of the Toronto Stock Exchange, Dr. Alo will
purchase 2,000,000 Northstar common shares at a price of Cdn $0.20 per
share, for a total purchase price of Cdn $405,600.00 (US$400,000.00).
Upon the placement's completion there will be 35,385,368 issued and
outstanding Northstar common shares.
About Northstar Healthcare Inc.
Northstar partners with physicians in the ownership and management of
ambulatory facilities and healthcare services. Northstar owns and
manages interests in three ambulatory surgery centers, two in Houston
and the third in Dallas.
This news release may contain forward-looking statements (within the
meaning of applicable securities laws) relating to business of
Northstar Healthcare Inc. (the "Company") and the environment in which
it operates. Forward-looking statements are identified by words such as
"believe", "anticipate", "expect", "intend", "plan", "will", "may" and
other similar expressions. These statements are based on the Company's
expectations, estimates, forecasts and projections. They are not
guarantees of future performance and involve risks and uncertainties
that are difficult to control or predict. These risks and uncertainties
are discussed in the Company's regulatory filings available on the
Company's web site at www.Northstar-Healthcare.com or at www.sedar.com. There can be no assurance that forward-looking statements will prove
to be accurate as actual outcomes and results may differ materially
from those expressed in these forward-looking statements. Readers,
therefore, should not place undue reliance on any such forward-looking
statements. Further, a forward-looking statement speaks only as of the
date on which such statement is made. The Company undertakes no
obligation to publicly update any such statement or to reflect new
information or the occurrence of future events or circumstances.
SOURCE Northstar Healthcare Inc.
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