TORONTO, Nov. 21, 2016 /CNW/ - Medical Facilities
Corporation (TSX: DR) ("Medical Facilities" "MFC" or the
"Corporation") is pleased to announced that it has appointed
Tyler Murphy as Executive Vice
President, Finance of the Corporation. Mr. Murphy will report to
Michael Salter, the Chief Financial
Officer of MFC and is expected to assume the role of CFO on Mr.
Salter's retirement on December 31,
2016. Mr. Murphy joins Medical Facilities today,
November 21, 2016.
"With his experience working at large U.S. publicly-listed
healthcare companies, we are very pleased that Tyler is joining us,
particularly at this phase of our evolution," said Britt T. Reynolds, CEO of Medical Facilities.
"He brings robust financial management skills, keen business
insight and expertise in the healthcare sector, and direct working
knowledge of capital markets and investor relations."
Mr. Murphy has over 15 years' experience in senior financial
management in the healthcare industry and most recently served as
Vice President and Treasurer with one of the largest
publicly-traded healthcare companies in the United States. Prior to this he was with
another large investor-owned organization as Senior Vice-President,
responsible for treasury, risk management and investor relations.
He holds a Bachelor of Science degree in Business Administration
from Auburn University and an MBA from
the University of Alabama at
Birmingham.
"Tyler and I have worked together for several years previously
and I have observed his skill at integrating acquisitions," added
Mr. Reynolds. "We are extremely excited to have him on board, both
for his financial management and oversight as well as the
contributions he will make to our growth strategy. We expect him to
make a smooth transition into the role of CFO on January 1, 2017."
Michael Salter
retirement
Michael Salter,
the current Chief Financial Officer of Medical Facilities
Corporation has previously announced his retirement effective
December 31, 2016. Mr. Salter has
served as CFO of the Corporation since its inception in 2004.
"We thank Michael for his years of dedication," said
Marilynne Day-Linton, the Chair of
Medical Facilities Corporation. "He played a key role in the
formation and initial public offering of MFC and the establishment
of a solid financial foundation that has generated value for our
shareholders, including reliable cash flows and the payment of 151
consecutive monthly dividends."
About Medical Facilities
Medical Facilities owns
controlling interests in five specialty surgical hospitals located
in Arkansas, Indiana, Oklahoma and South
Dakota, 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