PR Newswire
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TORONTO, March 21, 2025 /CNW/ - Medical Facilities Corporation (TSX: DR) ("Medical Facilities") announced today that a cash dividend payment of Cdn $0.09 per common share will be payable on April 15, 2025, to holders of record of common shares at the close of business on March 31, 2025.
Medical Facilities designates this dividend to be an "eligible dividend" pursuant to subsection 89(14) of the Income Tax Act (Canada) and its equivalent in any provinces of Canada.
TORONTO, March 13, 2025 /CNW/ - Medical Facilities Corporation ("Medical Facilities," "MFC," or the "Corporation") (TSX: DR), reported its financial results today for the fourth quarter and year ended December 31, 2024. All amounts are expressed in U.S. dollars unless indicated otherwise.
Highlights (For continuing operations1, which exclude Black Hills Surgical Hospital, LLP ("BHSH"), and also excluding the divested MFC Nueterra ambulatory surgery centers, government stimulus income, and non-controllable, non-cash corporate level charges related to share-based compensation plans, compared to the fourth quarter and year ended December 31, 2023)
TORONTO, March 12, 2025 /CNW/ - Medical Facilities Corporation ("Medical Facilities" or the "Corporation") (TSX: DR), announced today that it will take up and repurchase for cancellation 3,374,313 of its outstanding common shares (the "Common Shares") at a price of $18.00 per Common Share (the "Purchase Price") under the Corporation's substantial issuer bid (the "Offer"), for aggregate consideration of approximately $60,737,634. The Offer expired at 11:59 p.m. (Toronto Time) on March 11, 2025. All amounts in this press release are in Canadian dollars.
TORONTO, March 3, 2025 /CNW/ - Medical Facilities Corporation ("MFC" or the "Corporation") (TSX: DR), today announced the appointment of Peter Brimm and Jeremy Klaperman to the Board of Directors of the Corporation (the "Board") and the resignation of Yanick Blanchard from the Board as part of a Board refresh. The Corporation expects that Erin Enright and Reza Shahim will not be standing for re-election as Directors of the Corporation at the next annual general meeting of the Corporation ("AGM"), and thus the Board will consist of five directors following the AGM. Mr. Brimm and Mr. Klaperman have joined the Audit Committee of the Board, with Mr. Klaperman being appointed as Chair of the Audit Committee, replacing Mr. Blanchard.
TORONTO, Feb. 24, 2025 /CNW/ - Medical Facilities Corporation ("Medical Facilities" or the "Corporation") (TSX: DR), announced today the amendment of the terms of the Corporation's ongoing substantial issuer bid (the "Offer"), pursuant to which the Corporation has offered to purchase from its shareholders ("Shareholders"), for cancellation, up to $80,750,000 of its common shares (the "Common Shares").
The Offer has been amended to increase the price range offered to Shareholders who tender their Common Shares pursuant to the Offer to a price of not less than $16.50 per Common Share and not more than $18.00 per Common Share (in increments of $0.10 per Common Share) (the "New Range"). The New Range varies the original price range of the Offer of not less than $15.50 and not more than $17.00 per Common Share. The high end of the New Range represents a 15.5% premium to the 20-day VWAP of the Common Shares prior to the announcement of the Offer and a 22.7% premium to the 20-day VWAP of the Common Shares prior to the announcement of the sale of Black Hills Surgical Hospital, LLP to Sanford Health on November 15, 2024.
TORONTO, Feb. 20, 2025 /CNW/ - Medical Facilities Corporation (TSX: DR) ("Medical Facilities" or "MFC") will release its fourth quarter and full-year 2024 financial results prior to market open on Thursday, March 13, 2025. MFC's year-end financial statements and its management's discussion and analysis for the three and twelve-month periods ended December 31, 2024 will be filed on SEDAR+ at www.sedarplus.ca following the release, and will also be available on the same day on MFC's website at www.medicalfacilitiescorp.ca. Management will host an earnings conference call to review the financial results at 8:30 a.m. ET the same morning.
TORONTO, Feb. 11, 2025 /CNW/ - Medical Facilities Corporation ("Medical Facilities" or the "Corporation") (TSX: DR), announced today that, in connection with the Corporation's ongoing substantial issuer bid (the "Offer"), the Ontario Securities Commission has granted an order (the "Relief Order") permitting Medical Facilities to extend the Offer, if it determines to do so, without first taking up any common shares of the Corporation (the "Common Shares") previously deposited. For technical reasons the Offer could not be extended without the Relief Order.
TORONTO, Jan. 17, 2025 /CNW/ - Medical Facilities Corporation ("Medical Facilities" or the "Corporation") (TSX: DR), announced today its intention to commence a substantial issuer bid (the "Offer") to purchase, for cancellation, a number of common shares of the Corporation ("Common Shares") for an aggregate purchase price not exceeding $80,750,000. The Corporation anticipates that the Offer will commence on or about January 20, 2025, and will expire at 11:59 p.m. (Toronto time) on February 24, 2025 (the "Expiry Date"), unless extended, varied or withdrawn by Medical Facilities. All amounts are expressed in Canadian dollars.
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TORONTO, Dec. 18, 2024 /CNW/ - Medical Facilities Corporation (TSX: DR) ("Medical Facilities") announced today that a cash dividend payment of Cdn $0.09 per common share will be payable on January 15, 2025, to holders of record of common shares at the close of business on December 31, 2024.
Medical Facilities designates this dividend to be an "eligible dividend" pursuant to subsection 89(14) of the Income Tax Act (Canada) and its equivalent in any provinces of Canada.
TORONTO, Nov. 28, 2024 /CNW/ - Medical Facilities Corporation ("MFC" or the "Corporation") (TSX: DR), today announced certain governance changes following its previously announced sale of Black Hills Surgical Hospital, LLP ("Black Hills") to Sanford Health. In order to compensate the individuals who made significant contributions to the successful sale of Black Hills, the Board of Directors of MFC (the "Board") determined to pay transaction bonuses to Jason Redman, CEO, and Michael Gisser, Chair of the Board, in addition to bonus allocations to other members of the management team. As a result of the transaction bonus paid to Mr. Gisser, the Board determined that Mr. Gisser no longer satisfies the independence requirements set forth in National Instrument 52-110, and accordingly, Mr. Gisser stepped down as a member of the Audit Committee and as Chair of the Board so that a Chair may be appointed who is independent for purposes of National Instrument 52-110 in furtherance of corporate governance best practices. The Board has appointed Adina Storch as the new independent Chair of the Board.
TORONTO, Nov. 28, 2024 /CNW/ - Medical Facilities Corporation ("Medical Facilities" or the "Corporation") (TSX: DR), announced today that the Toronto Stock Exchange has approved its notice of intention to make a normal course issuer bid ("NCIB") for up to 2,339,066 of its 23,398,762 outstanding common shares ("Common Shares"), representing 10% of the Corporation's public float of 23,390,662 Common Shares as of November 19, 2024. The Corporation may purchase the Common Shares at prevailing market prices during the period from December 1, 2024, to November 30, 2025, through the facilities of the Toronto Stock Exchange, other designated exchanges and/or alternative Canadian trading systems in accordance with applicable regulatory requirements. Purchases will be made at market prices in accordance with the rules and policies of the Toronto Stock Exchange. Subject to the Toronto Stock Exchange's block purchase exceptions, daily purchases will be limited to 8,354 Common Shares on any trading day, representing 25% of the average daily trading volume of 33,416 Common Shares for the past six months. All securities purchased by Medical Facilities under the normal course issuer bid will be cancelled. As of November 19, 2024, Medical Facilities repurchased 1,427,400 of its Common Shares for a volume-weighted average price of $12.17 under its prior normal course issuer bid for up to 2,481,256 Common Shares, which commenced on December 1, 2023, and expires on November 30, 2024.
TORONTO, Nov. 18, 2024 /CNW/ - Medical Facilities Corporation ("MFC" or the "Corporation") (TSX: DR), announced that one of MFC's specialty surgical hospitals, Black Hills Surgical Hospital, LLP, located in Rapid City, SD, closed its previously announced sale to Sanford Health on November 15, 2024.
About Medical Facilities
Medical Facilities, in partnership with physicians, owns a portfolio of highly rated, high-quality surgical facilities in the United States. MFC's ownership includes controlling interests in three specialty surgical hospitals located in Arkansas, Oklahoma, and South Dakota, and an ambulatory surgery center ("ASC") located in California. The specialty surgical 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 ASC specializes in outpatient surgical procedures, with patient stays of less than 24 hours. For more information, please visit www.medicalfacilitiescorp.ca.
TORONTO, Nov. 14, 2024 /CNW/ - Medical Facilities Corporation ("MFC" or the "Corporation") (TSX: DR), announced that one of MFC's specialty surgical hospitals, Black Hills Surgical Hospital, LLP ("BHSH"), located in Rapid City, SD, has entered into a definitive agreement to sell BHSH to Sanford Health (with certain affiliates, "Sanford"). The proposed transaction is structured as a merger in which Sanford would acquire 100% of the equity securities of BHSH for a total purchase price of $194 million, subject to customary purchase price adjustments (the "Transaction"). The Transaction is expected to yield gross proceeds of approximately $105.2 million for MFC's 54.22% ownership share of BHSH. MFC's minority partner in BHSH, Black Hills Surgical Physicians, LLC, is also participating in the Transaction. The Transaction is expected to close within the week. All amounts are expressed in U.S. dollars.
TORONTO, Nov. 7, 2024 /CNW/ - Medical Facilities Corporation ("Medical Facilities," "MFC," or the "Corporation") (TSX: DR), reported its financial results today for the three-month and nine-month periods ended September 30, 2024. All amounts are expressed in U.S. dollars unless indicated otherwise.
Q3 2024 Highlights(Compared to Q3 2023 and excluding the divested MFC Nueterra ambulatory surgery centers)
Facility service revenue increased 0.2% to $103.6 millionRecognized government stimulus income of $11.4 million ($12.0 million when including $0.6 million in relation to MFC Nueterra) after receiving forgiveness on all outstanding Paycheck Protection Program ("PPP") loansIncome from operations increased 11.7% to $14.2 million when excluding government stimulus income and non-controllable, non-cash corporate level charges related to share-based compensation plansEBITDA1 increased 8.3% to $19.1 million when excluding government stimulus income and non-controllable, non-cash corporate level charges related to share-based compensation plansSurgical case volumes increased 3.1%Purchased 554,900 of its common shares for a total consideration of $5.7 million under its normal course issuer bid ("NCIB")Repaid $2.0 million on its corporate credit facilityTORONTO, Oct. 24, 2024 /CNW/ - Medical Facilities Corporation (TSX: DR) ("Medical Facilities" or "MFC") will release its third quarter 2024 financial results prior to market open on Thursday, November 7, 2024. MFC's financial statements and management's discussion and analysis for the three-month period ended September 30, 2024 will be filed on SEDAR+ at www.sedarplus.ca following the release, and will also be available on the same day on MFC's website at www.medicalfacilitiescorp.ca. Management will host an earnings conference call to review the financial results at 8:30 a.m. ET the same morning.
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Sept. 19, 2024 /CNW/ - Medical Facilities Corporation (TSX: DR) ("Medical Facilities") announced today that a cash dividend payment of Cdn $0.09 per common share will be payable on October 15, 2024, to holders of record of common shares at the close of business on September 30, 2024.
Medical Facilities designates this dividend to be an "eligible dividend" pursuant to subsection 89(14) of the Income Tax Act (Canada) and its equivalent in any provinces of Canad
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