TORONTO, March 31, 2014 /CNW/ - Medical Facilities Corporation (TSX: DR) ("Medical Facilities" or the "Company") announces that March 2014 marks the ten-year anniversary of the Company's inception. In honour of this significant milestone, the management team and the board of directors are scheduled to open trading on Toronto Stock Exchange this morning.
Ten years ago, Medical Facilities completed an initial public offering of Cdn$221.7 million with an initial portfolio of three South Dakota-based, physician-owned specialty surgical hospitals. Today, the Company operates five specialty surgical hospitals and an ambulatory surgery center, supported by a strong management team, highly-skilled physicians and talented staff. Strong and consistent delivery of financial results have enabled the Company to raise its dividend and distribute consecutive dividends to its shareholders.
"As a founding member of Medical Facilities, I am proud to announce this milestone as we celebrate ten years of integrating hospitality into high quality healthcare," stated Dr. Donald Schellpfeffer, Chief Executive Officer. "Over the years, we have successfully grown our business through accretive acquisitions and more recently our primary and urgent care initiatives. We keep shareholder value at the forefront and are proud to have distributed 120 consistent dividends to our shareholders. As we continue our journey, we look forward to the next ten years and beyond," concluded Dr. Schellpfeffer.
Today the Company has also launched its 10th annual report online which can be found at the following link: http://www.medicalfacilitiescorp.ca/ar/.
About Medical Facilities
Medical Facilities owns controlling interests in five 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. 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:
Chief Financial Officer
Medical Facilities Corporation
416.848.7380 or 1.877.402.7162
416.815.0700 or 1.800.385.5451 ext. 258