TORONTO, Feb. 5, 2014 /CNW/ - Medical Facilities Corporation (TSX: DR) ("Medical Facilities" or the "Corporation") announced that effective January 31, 2014, Orthopedic Surgery Specialists ("OSS"), a physician practice which includes physicians with interests in the Corporation's Dakota Plains Surgical Center ("DPSC"), joined the Avera Medical Group ("AMG").
Neither Medical Facilities' interest in DPSC, nor the physicians' 35.4% retained interest, is affected by this change which relates solely to the medical practices of the physicians. The physicians will continue to provide services at both DPSC and the Surgery Center at Avera St. Luke's Hospital (and other AMG facilities).
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 Corp.
(416) 848-7380 or 1-877-402-7162
(416) 815-0700 or 1-800-385-5451 ext. 258