Adding Chief Development Officer and
appointing CEO to Board
TORONTO, Sept. 2, 2016 /CNW/ - Medical Facilities
Corporation (TSX: DR) ("Medical Facilities" "MFC" or the
"Corporation") is pleased to announce that it has appointed
James Rolfe as Chief Development
Officer of the Corporation. Mr. Rolfe will join Medical Facilities
on or before September 19, 2016.
"The addition of a Chief Development Officer is a reflection of
our stated strategy to grow both through acquisition and through
organic enhancements and initiatives at our existing facilities.
We're glad that Jim is joining the team," said Britt T. Reynolds, CEO of Medical Facilities.
"Jim and I have worked together for over a decade and he brings a
vast array of experience at successfully identifying, evaluating,
acquiring and integrating healthcare assets of all types, including
physician joint ventures in hospitals and outpatient
facilities."
Prior to joining Medical Facilities, Mr. Rolfe was Managing
Director of Business Development and Transaction Advisory for one
of the largest healthcare valuation and transaction advisory firms
in the U.S. and worked with many large proprietary for-profit and
not-for-profit health systems. Prior to this role he was Vice
President of Acquisitions and Development for one of the largest
publicly-traded healthcare systems in the
United States. Here, he focused on the
acquisition/divestiture of acute care hospitals, outpatient
facilities, and physician practices. In total he has over 25 years'
experience in the financial services and healthcare sectors and
holds a BBA from the University of
Mississippi.
"I'm excited to be joining Medical Facilities Corporation at
this stage of its development," stated Mr. Rolfe. "In the current
market, there are solid opportunities to add quality assets and
MFC's reputation as a prudent manager with a sensitivity to
physicians and their patients make it the ideal choice for those
facilities looking to expand or enhance their current structure. I
look forward to deploying my experience and network to identify and
execute on acquisitions that will be accretive and augment organic
growth in our existing portfolio."
Board appointment
The Board of Medical Facilities
Corporation is also pleased to announce that Britt T. Reynolds, the Corporation's Chief
Executive Officer ("CEO"), has been appointed as a director of the
Corporation. Mr. Reynolds, who commenced in his new role as
CEO on May 1, 2016, is a talented
health services executive with over 28 years' experience in the
hospital and ambulatory care management industry whose vision and
skills position him well as a director to continue Medical
Facilities' strong momentum and growth.
About Medical Facilities
Medical Facilities owns
controlling interests in four 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. 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