TORONTO, April 12, 2016 /CNW/ - Medical Facilities Corporation (TSX: DR) ("Medical Facilities" or the "Corporation") is pleased to announce that Mr. Britt T. Reynolds will commence his role of Chief Executive Officer of the Corporation on May 1, 2016.
"We are very excited to have Britt join the Medical Facilities management team earlier than anticipated," said Seymour Temkin, Interim CEO and Chairman of the Board. "Medical Facilities' management and Board of Directors looks forward to a new chapter under his leadership. With his extensive experience and knowledge in the health care industry, we believe this will further enhance the Company's vision and objectives."
In a previous announcement, Medical Facilities Corporation had announced Mr. Reynolds' start date would be June 1, 2016.
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 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 Corp., (416) 848-7380 or 1-877-402-7162, firstname.lastname@example.org; Renée Lam, Investor Relations, NATIONAL Equicom, 416.848.1405, email@example.com