TORONTO, July 25, 2017 /CNW/ - Medical Facilities Corporation (TSX: DR) ("Medical Facilities" "MFC" or the "Corporation") is pleased to announce that it has appointed Robert O. Horrar as Chief Operating Officer of the Corporation.
Mr. Horrar is a seasoned healthcare leader with more than 25 years of experience in health plan and hospital operations. He was formerly with Community Health Systems, Inc. which he joined in 1998 as Vice-President of Business Development ultimately reaching the position of Division President responsible for overseeing the operations of affiliated hospitals in Indiana, Tennessee and West Virginia. Before Community Health Systems, Mr. Horrar was with Humana, Inc. for over 11 years and held several key management positions, including Executive Director for Nevada operations. Mr. Horrar holds a Bachelor of Science degree in Economics from Centre College in Kentucky and a Master of Science degree in HealthCare Administration from Trinity University in Texas.
"We are very pleased to be adding Rob to our team," said Jeffrey Lozon, Interim CEO of the Medical Facilities. "His deep experience in hospital operations as well as with an insurance provider will be valuable to us as we execute on our strategy to both grow organically and improve operating margins. He has already taken on some important initiatives that we expect will drive positive results in future quarters."
"MFC has some of the best healthcare facilities in the country and I look forward to working with our local leadership teams to optimize performance and increase market presence as well as forging close ties with our payer stakeholders," stated Mr. Horrar. "With a solid track record of growing case volume and increasing revenue, there are many opportunities to achieve profitable growth."
About Medical Facilities
Medical Facilities owns controlling interests in five specialty surgical hospitals located in Arkansas, Indiana, Oklahoma and South Dakota, 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 physician practices, 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: Jeffrey C. Lozon, Interim Chief Executive Officer, Medical Facilities Corp., 416.848.7380 or 1.877.402.7162, [email protected]; Craig MacPhail, Investor Relations, NATIONAL Equicom, 416.586.1938, [email protected]