Quantum Announces first profitable quarter for CSS Essex and Continued High Occupancy at the Columbus LTACH
Jul 31, 2015, 08:45 ET
TORONTO, July 31, 2015 /CNW/ - Quantum International Income Corp. ("QIIC" or the "Company") (TSXV: QIC / QIC.U), a Healthcare company focused on providing superior patient care through the delivery of integrated health solutions, is pleased to announce its first profitable quarter for Centers for Special Surgery ("CSS") Essex.
In Q1 2016 (March to May) CSS Essex reported record revenues of USD $802,959 and a turn to profitability from the previous quarter. Revenues at the CSS Essex facility have been increasing and monthly procedure numbers have increased as follows:
Refer to SEDAR for the Q1 2016 financial statements and related MD&A.
Update on Columbus LTACH performance
QIIC's previously announced acquisition of the Columbus LTACH continues its strong performance. Historically and industry-wide the occupancy rates during the summer months at an LTACH are cyclically low yet the facility is averaging over 95% occupancy rate with average occupancy of 58 beds in June and 61 beds in July. Columbus LTACH continues to source high acuity patients with strong reimbursement profiles.
"We are pleased with the progress and continued growth in procedure volumes at CSS. As CSS builds its presence and track record with payors we hope to see higher facility fee reimbursement rates moving forward which will increase both revenues and profits. Our recently acquired Anesthesia business will also benefit from CSS's increased procedure volumes" Grant White, Quantum's CEO and Chairman of the Board.
On Behalf of the Board,
Grant White, Chief Executive Officer, 416.477.3410;
Manu K. Sekhri, President, 416.477.3414;
Joel Kitsul - Sr. VP Investor Relations, 1-866-684-6730,
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking statements and forward-looking information (collectively, "Forward-Looking Statements") and QIIC cautions investors about important factors that could cause QIIC's actual results to differ materially from those expressed, implied or projected in any Forward-Looking Statements included in this press release. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "may", "could", "believes", "estimates", "intends", "plans", "forecast", "projection" and "outlook") are not historical facts and may be Forward-Looking Statements that involve projections, estimates, assumptions, known and unknown risks and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such Forward-Looking Statements or otherwise materially inaccurate. No assurance can be given that these expectations or assumptions will prove to be correct and such Forward-Looking Statements included in this press release should not be unduly relied upon. These Forward-Looking Statements speak only as of management's beliefs and expectations as of the date of this press release. In addition, this press release may contain Forward-Looking Statements drawn from or attributed to third party sources. Accordingly, any such statements are qualified in their entirety by reference to the information discussed throughout this press release.
In particular, this press release contains Forward-Looking Statements regarding anticipated future financial, structural, growth and operating performance of QIIC, including as it pertains to the operations detailed in this press release and the deployment of capital into new acquisitions.
Actual results may differ materially due to a number of risks and uncertainties faced by QIIC, including, but not limited to: general economic and business conditions; global financial conditions; the failure of QIIC to identify future acquisition targets; third parties honouring their contractual obligations with QIIC and its subsidiaries; relationships with operating and/or joint venture partners; inaccuracy, incompleteness or omissions in any of the financial and other information upon which management bases its analysis of potential acquisitions; the failure to realize the anticipated benefits of QIIC's current and future acquisitions; factors relating to the healthcare industry, including reliance on third-party payors for revenue; licensing, certification and accreditation risk; healthcare regulatory requirements; dependence on physician relationships; litigation, professional liability claims; insurance coverage limitations and uninsured risks; dependence on key personnel at the QIIC and operations level; competition from other healthcare providers; factors relating to the media content generation and distribution industry, including ability to deliver services in a timely manner; changes in technology, consumer markets or demand for media services; changes in federal, provincial and foreign content laws and regulations; dependence on third party content producers; competition for, among other things, capital, equipment and skilled personnel; the inability to generate sufficient cash flow from operations to meet future obligations; the inability to obtain required debt and/or equity financing for future acquisitions on suitable terms; competition for acquisition targets; seasonality and fluctuations in results; and limited diversification of QIIC's business industries, structures and operations.
QIIC cautions that the list and description of Forward-Looking Statements, risks, assumptions and uncertainties set out above is not exhaustive. QIIC will update the Forward-Looking Statements as required by securities law. All Forward-Looking Statements contained in this press release are qualified by these cautionary statements.
Unless otherwise specified in this press release, information contained in this press release is current as of the date of this press release. Unless otherwise specified, all dollar amounts herein refer to Canadian dollars. Additional information on these and other factors that could affect the operations or financial results of QIIC and its subsidiaries are included in disclosure documents filed by QIIC with the securities regulatory authorities, available under QIIC's profile on SEDAR at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Quantum International Income Corp
For further information: Grant White, Chief Executive Officer, 416.477.3410; Manu K. Sekhri, President, 416.477.3414; Investor Relations, Kin Communications, Joel Kitsul - Sr. VP Investor Relations, 1-866-684-6730, [email protected]
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