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First Choice Healthcare Solutions Inc (PK)

First Choice Healthcare Solutions Inc (PK) (FCHS)

0.006
0.00
(0.00%)
Closed July 15 4:00PM

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Key stats and details

Current Price
0.006
Bid
0.005
Ask
0.0067
Volume
-
0.00 Day's Range 0.00
0.0015 52 Week Range 0.015
Market Cap
Previous Close
0.006
Open
-
Last Trade
Last Trade Time
Financial Volume
-
VWAP
-
Average Volume (3m)
88,646
Shares Outstanding
32,958,288
Dividend Yield
-
PE Ratio
-0.04
Earnings Per Share (EPS)
-0.25
Revenue
30k
Net Profit
-8.26M

About First Choice Healthcare Solutions Inc (PK)

Headquartered in Melbourne, Florida, First Choice Healthcare Solutions, Inc. ("FCHS," "the Company," "we," "our" or "us") is actively engaged in implementing a defined growth strategy aimed at building a network of localized, integrated healthcare services platforms comprised of primary care using d... Headquartered in Melbourne, Florida, First Choice Healthcare Solutions, Inc. ("FCHS," "the Company," "we," "our" or "us") is actively engaged in implementing a defined growth strategy aimed at building a network of localized, integrated healthcare services platforms comprised of primary care using doctors, nurse practitioners, health and well services (anti-aging, weight management and stem cells), rehabilitative therapy, pain management, and pharmacy- services. in key high growth markets throughout the U.S. Serving Florida's Space Coast region, FCMG comprises our Company's integrated healthcare services delivery platform. It is our goal to replicate our integrated platform model in other geographic markets throughout the southeast region of the United States. By centralizing current and future systems and business management functions, including call center operations, scheduling, billing, compliance, accounting, marketing, advertising, legal, information technology and record-keeping at our corporate headquarters, we will maintain efficiencies and economies of scale. We believe our structure will enable our staff physicians to focus on the practice of medicine and the delivery of quality care to the patients we serve, as opposed to having their time and attention focused on business administration responsibilities and day to day business concerns. Show more

Sector
Medical Laboratories
Industry
Medical Laboratories
Website
Headquarters
Wilmington, Delaware, USA
Founded
1970
First Choice Healthcare Solutions Inc (PK) is listed in the Medical Laboratories sector of the OTCMarkets with ticker FCHS. The last closing price for First Choice Healthcare ... (PK) was $0.01. Over the last year, First Choice Healthcare ... (PK) shares have traded in a share price range of $ 0.0015 to $ 0.015.

First Choice Healthcare ... (PK) currently has 32,958,288 shares outstanding. The market capitalization of First Choice Healthcare ... (PK) is $197,749.73 . First Choice Healthcare ... (PK) has a price to earnings ratio (PE ratio) of -0.04.
PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
1-0.000455-7.048799380330.0064550.0064550.006212000.006CS
4-0.0019-24.05063291140.00790.00790.006109450.00604407CS
120.002500.0040.00990.0032886460.00735134CS
260.001946.34146341460.00410.00990.0021993190.00558119CS
52-0.006-500.0120.0150.00151693500.00408039CS
156-0.124-95.38461538460.130.510.0015731350.0115404CS
260-0.234-97.50.240.510.0015432210.04538841CS

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FCHS Discussion

View Posts
Longer Than Most Longer Than Most 3 months ago
Story starting here?
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BeardOfWallSt BeardOfWallSt 3 months ago
She moves so easy lol
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Longer Than Most Longer Than Most 6 months ago
Absolutely. Low floater could get locked quick. Today looks like loading
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MattyTrader MattyTrader 6 months ago
Ya, curious why all the volume today
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BeardOfWallSt BeardOfWallSt 6 months ago
Could turn into a straight rocket down the road with the right news/fluff imo
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MattyTrader MattyTrader 6 months ago
Sick SS here , getting some action today
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Longer Than Most Longer Than Most 7 months ago
Grabbed some too looks nice
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BeardOfWallSt BeardOfWallSt 7 months ago
Nice grab
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Coniba Coniba 7 months ago
Bought some FCHS .0019 . 100M A/S
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dazetrader dazetrader 10 months ago
I think it can, I think it can.
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BeardOfWallSt BeardOfWallSt 1 year ago
I wonder if this could come back for just a low float pump
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john_hackworth john_hackworth 4 years ago
Some news -

I spoke to Phillip J Keller, the interim CEO today - found his cell number online.

Steward Heatlhcare sued FCHS in February; "VIA Acquisition Corp" sued last December.

Phillip said (1) the company is still operating - Florida re-opened from covid-19 for elective medical procedures on Monday - and (2) there's a hearing on Thursday in Delaware Chancery court that precludes him from giving me an answer on when there would be a shareholder's meeting.

The only thing I can find through the Delaware Courts website are this case: https://courtconnect.courts.delaware.gov/public/ck_public_qry_doct.cp_dktrpt_frames?backto=P&case_id=2019-1024&begin_date=&end_date=

and this case: https://courtconnect.courts.delaware.gov/public/ck_public_qry_doct.cp_dktrpt_frames?backto=P&case_id=2020-0131&begin_date=&end_date=

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Shredder13 Shredder13 5 years ago
Yes, that's what I meant. I would not take that bet, because I imagine that is highly likely. They just filed the notice of late filing for the 10-Q...waiting on the auditors...
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Mermelstein Mermelstein 5 years ago
10-K has to be filed before the 10-Q. I'll bet you $1 Romandetti was stealing money from the company, and the delay is for forensic accounting. Probably not anything major, but the nature of his departure probably had the auditors taking a second look over everything.

Either that or they're going to need to take a write-off on accounts receivable for bad debts. Seems like a few other companies in the industry have been having issues with that.

Either way, they need to let investors know what the hold up is. They said at the beginning of April the 10-K would be filed within 2 weeks...that was 6 weeks ago.
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Shredder13 Shredder13 5 years ago
Any thoughts on when the 10Q will be filed? It's becoming worrisome
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Mermelstein Mermelstein 5 years ago
I'd almost guarantee Romandetti didn't know about any pending litigation when the Steward agreement was signed. The way I understood it was his house was basically raided the morning of his arrest...so he was probably as surprised as anyone.

Agree his remaining stake could be an issue if he decides to sell, but if current management can show operations are still on track, I think the market will easily absorb his shares. I'm wanting to buy more myself, but am waiting on the 10-K.
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Shredder13 Shredder13 5 years ago
I agree, it can't really get much worse and trading around an EV/Revenue multiple of 0.1x it seems cheap. Yes, that is something that should be disclosed as stated in the stock purchase agreement with Steward Health, and he signed off on not knowing about any pending litigation...maybe he didn't know buy I highly doubt that.

One risk for the stock price in the short-term is will Romandetti sell his shares onto the market (21.5% ownership)? Not involved with the company anymore and surely racking up legal bills. Along with his friend Mark Burnett of Fuse Capital(5.4%) who was also named in the indictment.
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Mermelstein Mermelstein 5 years ago
Provided Romandetti's illegalities were limited to the pump and dump scheme, I don't see how Steward was screwed over. Was Chris going to disclose to them in 2018 something illegal he may have been involved in from 2014-2016? I highly doubt anyone would. Obviously, Steward is probably not thrilled about the current share price, but if there are no additional problems related to the operations/financials, the company is basically sitting the same as it was before Chris's arrest.

Issue here is if Chris was involved with something illegal like a pump and dump, there's the possibility he was also doing something illegal related to the actual business. And with the 10-K still not yet filed, that risk is obviously spooking investors.

Stock price is currently in the gutter, and it can't get much worse at this point, so the stock could see a nice rebound when/if the issues are resolved.
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Shredder13 Shredder13 5 years ago
Dr. Thomas Gill resigned from the board of directors. I guess that tells us how Steward Healthcare feels about the situation. Romandetti clearly lied directly to their faces before Steward made the direct investment in FCHS, and I bet they want their money back. James Renna, who also represents Steward, is still on the board...for now. Get your popcorn ready this should be fun. Steward is backed by Cerberus Capital...$7.5 million is a drop in the bucket for them, but probably not someone you want to screw over. Very interesting at this valuation if the financials are up to par, which you think Steward/Cerberus would have confirmed.
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john_hackworth john_hackworth 5 years ago
Anyone have thoughts on this chain of PRs from lawyers talking about class actions?

I don't know a ton about this.
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greendolphin11 greendolphin11 5 years ago
Sorry for not posting for a while

I am slammed at work

Every day the stock keeps looking better and better

10K report will make it very clear that this company is fundamentally the same as it was a few months ago before all the crap hit the fan with CR.

I expect to see a dollar again by end of March at the latest

GD11
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ProfitScout ProfitScout 6 years ago
First Choice Healthcare Solutions Announces Physical/Occupational Therapy Expansion

MELBOURNE, Fla., Jan. 08, 2019 (GLOBE NEWSWIRE) -- First Choice Healthcare Solutions, Inc. (OTCQB: FCHS) ("First Choice" or the "Company"), a physician-driven, patient-centric healthcare delivery platform providing a full life cycle of Orthopaedic and Spine care for patients through diagnosis, treatment and recovery, today announced the opening of the Company’s fifth therapy location in Brevard County, Florida.

“With our experienced, caring physical therapist team, coupled with our state-of-the-art equipment, we are truly passionate about delivering clinically superior, patient-centric care,” said Dr. Steve Ryland, DPT and Director of Therapy and Ancillary Services for First Choice. “Our new location was designed to ensure our patients get back to doing what they love in a comfortable environment that is close to home.”

First Choice Physical Therapy’s newest location is located at 4311 Norfolk Parkway, West Melbourne, FL 32904. The operating hours are 7 a.m. to 6 p.m. Monday through Friday. The modern 3,450-square-foot advanced treatment center includes three private exam rooms, the most up-to-date equipment to ensure evidenced based outcomes, and highly skilled therapists, who emphasize a hands-on approach to patient care. Our other locations are in Melbourne, Viera, Suntree and Indian Harbor Beach.

“Our team of expertly trained occupational and physical therapists are ready to help you,” said Phillip Keller, the Company’s interim Chief Executive Officer said. “Three-out-of-four of our patients avoid surgery, allowing them to get back to a normal life. First Choice delivers verifiable, lasting results, to keep patients healthy and living an active lifestyle.”

Safe Harbor Statement
Certain information set forth in this news announcement may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of First Choice Healthcare Solutions, Inc. Such forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management beliefs and certain assumptions made by its management. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Information concerning factors that could cause the Company's actual results to differ materially from those contained in these forward-looking statements can be found in the Company's periodic reports on Form 10-K and Form 10-Q, and in its Current Reports on Form 8-K, filed with the Securities and Exchange Commission. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether because of new information, future events, or otherwise to reflect future events or circumstances or reflect the occurrence of unanticipated events.

About First Choice Healthcare Solutions, Inc.
Headquartered in Melbourne, Florida, First Choice Healthcare Solutions (FCHS) operates medical Centers of Excellence which concentrate on treating patients in the following specialties: Orthopedics, Spine Surgery, Interventional Pain Management, Physical Therapy and other ancillary and diagnostic services. We focus on serving Florida's Space Coast where the Company's flagship integrated platform currently administers over 150,000 patient visits each year and is comprised of First Choice Medical Group, The B.A.C.K. Center and Crane Creek Surgery Center. For more information, please visit www.myfchs.com, www.myfcmg.com, www.thebackcenter.net and www.cranecreeksurgerycenter.com.

Contact Information:
First Choice Healthcare Solutions, Inc.
Gillian Lee
Phone: 321-725-0090 ext. 160
Email: IR@myfchs.com

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greendolphin11 greendolphin11 6 years ago
FCHS files 8K - Romandetti OUT!

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officer; Compensatory Arrangements of Certain Officers.


(b) On December 28, 2018, the Company’s Board of Directors notified Chris Romandetti, Sr., the Company’s President and CEO who has been on administrative leave since November 15, 2018, of the termination, effective December 28, 2018, of his March 20, 2014 Employment Agreement with the Company and his employment thereunder for Cause, as defined thereunder, due to material, gross and willful misconduct in connection with his employment duties under the Employment Agreement demonstrated by his actions that provided a basis for a grand jury indictment against him and a Securities and Exchange Commission lawsuit against him.

Mr. Romandetti will only receive accrued but unpaid compensation and vacation pay through the December 28, 2018 date of termination of his Employment Agreement. All options, whether or not vested, held by Mr. Romandetti will immediately expire and all shares of restricted stock for which restrictions have not lapsed will be forfeited effective as of the December 28, 2018 date of termination.
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02opida 02opida 6 years ago
Recent Trades - Last 10 of 15

Time ET Ex Price Change Volume

14:52:37 Q 0.25 0.0145 2,500
13:07:58 Q 0.24 0.0045 100
13:05:26 Q 0.24 0.0045 900
12:29:22 Q 0.25 0.0145 5,000
12:29:12 Q 0.25 0.0145 5,000
12:24:18 Q 0.25 0.0145 2,500
11:00:59 Q 0.24 0.0045 20,000
10:35:50 Q 0.24 0.0045 5,000
09:56:54 Q 0.2355 1,415
09:56:37 Q 0.2355 5,585
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willlbone willlbone 6 years ago
Fat fingers. Got some teens.
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greendolphin11 greendolphin11 6 years ago
This is the news I was expecting!

Next should be a letter to shareholders by the end of the year, explaining in detail what is going on with the company moving forward

Then they should drop a PR or 2 in the first 2 weeks of 2019 after the tax loss selling is over

Just BTW, I have absolutely no idea if all of that is going to happen or not, I have never spoken with the company or its officers ever

Just think that the above is what they should do in order to maximize their return to the $1.00 level

Where they DESERVE to be, based upon their FUNDAMENTALS

Nothing else should matter, although I know there is a tremendous amount of emotion out there, especially anger and fear

Those emotions do not belong in the trading arena, IMO

GD11
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ProfitScout ProfitScout 6 years ago
FIRST CHOICE HEALTHCARE SOLUTIONS GOVERNANCE APPOINTMENTS

The Independent Board of Directors Announce Additional Updates

Melbourne, Fla., Dec. 06, 2018 (GLOBE NEWSWIRE) -- First Choice Healthcare Solutions, Inc. (OTCQB: FCHS) ("First Choice" or the "Company"), a physician driven, patient centric healthcare delivery platform providing a full life cycle of Orthopaedic and Spine care for patients through diagnosis, treatment and recovery, today announced a series of corporate actions:

The establishment of three Board Committees to align with governance structure recommendations for public companies of major stock exchanges. Specifically, the creation of:
Governance and Nominating Committee, chaired by Gary Augusta
Audit Committee, chaired by James Renna
Compensation Committee, chaired by Shelia Schweitzer

The First Choice Board of Directors is currently comprised of four Independent Directors:
Sheila Schweitzer
James Renna
Gary Augusta
Dr. Thomas Gill

The Board will continue to actively support and advise interim CEO and President Phillip Keller in the clinical and operating performance of the company and growth into 2019
“First Choice is founded on the premise of providing the highest quality care to our patients”, said Dr. Thomas Gill, First Choice Board Director and Chairman of the Company’s Medical Advisory Board. Gill added, “Our physicians know the needs of our patients and as a company, we are committed to empowering physicians, and all our care providers, in the First Choice growth model.”

Mr. Phillip Keller, the Company’s interim CEO stated, “the establishment of these new Board committees reflects our commitment to the highest standards of corporate governance. I look forward to continuing to work with our Board to ensure that First Choice delivers superior outcomes for our patients, physicians, employees and shareholders.”

Safe Harbor Statement
Certain information set forth in this news announcement may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of First Choice Healthcare Solutions, Inc. Such forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management beliefs and certain assumptions made by its management. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Information concerning factors that could cause the Company's actual results to differ materially from those contained in these forward-looking statements can be found in the Company's periodic reports on Form 10-K and Form 10-Q, and in its Current Reports on Form 8-K, filed with the Securities and Exchange Commission. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether because of new information, future events, or otherwise to reflect future events or circumstances or reflect the occurrence of unanticipated events.

About First Choice Healthcare Solutions, Inc.
Headquartered in Melbourne, Florida, First Choice Healthcare Solutions (FCHS) operates medical and care delivery Centers of Excellence which concentrate on treating patients in the following specialties: Orthopedics, Spine Surgery, Interventional Pain Management, Physical Therapy and other ancillary and diagnostic services. We focus on serving Florida's Space Coast where the Company's flagship integrated platform currently administers over 150,000 patient visits each year and is comprised of First Choice Medical Group, The B.A.C.K. Center and Crane Creek Surgery Center. For more information, please visit www.myfchs.com, www.myfcmg.com, www.thebackcenter.net and www.cranecreeksurgerycenter.com.

Contact Information:
First Choice Healthcare Solutions, Inc.
Gillian Lee
Phone: 321-725-0090 ext. 160
Email: IR@myfchs.com
👍️0
Fedel Fedel 6 years ago
Good news! Back price 1$.
👍️0
greendolphin11 greendolphin11 6 years ago
First Choice Healthcare Solutions Appoints Phillip Keller as Interim CEO

8:00 AM ET 11/19/18 | GlobeNewswire

First Choice Healthcare Solutions Appoints Phillip Keller as Interim CEO

The Independent Board of Directors Announce Additional Updates

MELBOURNE, Fla., Nov. 19, 2018 (GLOBE NEWSWIRE) -- First Choice Healthcare Solutions, Inc. (OTCQB: FCHS) ("First Choice" or the "Company"), a fully integrated, physician driven, publicly traded healthcare delivery platform providing a full life cycle of Orthopaedic and Spine care for patients through diagnosis, treatment and recovery, today announced a series of corporate actions:

-- Appointment of Phillip Keller as Interim CEO.

Keller has served as the Company CFO since July 2017 and has significant financial and operational experience and in Healthcare Services. His previous roles include CFO of RehabCare, SVP of Finance at Pharmerica and SVP at BioScrip.

-- Increased involvement from the Independent Board of Directors, whom were all appointed in 2018. Dr. Thomas Gill, James Renna, Sheila Schweitzer and Gary Augusta will work with Keller, the management team and the First Choice physicians and care providers to continue to drive the growth of the Company.

-- The Independent Board of Directors will nominate a Chief Medical Officer that will report directly to the Board.

-- Dr. Thomas Gill will be Chairman of a new Medical Advisory Board for the Company. The Medical Advisory Board will focus on furthering physician leadership, clinical integration and additional growth segments.

-- The Company will further grow its strategic partnership and clinical integration with Steward Healthcare; the Company's second largest shareholder.

"The First Choice Healthcare delivery platform remains solid and positioned to grow with a focus on quality patient care," said Keller. "Our relationship with Steward Healthcare remains strong and we continue to believe our strategic partnership will benefit the shareholders of First Choice. I look forward to the strategic involvement of the Company's Independent Board of Directors and advancing the financial and clinical outcomes of the company."
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greendolphin11 greendolphin11 6 years ago
Do not believe the negative talk!

All that has happened is that the CEO has been removed.

Has anyone bothered to check out the incredible credentials of the Board of Directors?

Any one of THEM could immediately step in as CEO of this company

As far as fundamentals, the stock was trading at a dollar because it DESERVES to trade at a dollar or more

They have 24 cents of CASH on hand, over $7 million. Just using a basic 3x - 4x factor shows that it should be trading at a dollar on the CASH BASIS ALONE.

And that disregards all of the facitlities, equipment, and services that they are providing

Look at the chart, this "massive" run from a dollar to 3.40 (sarc), happened back in 2014, almost 5 YEARS AGO!

The release of yesterday's 8-K shows that the board is on top of this matter

As for the stock being revoked, under what pretext?

I can understand if this was a grey sheet or a non-reporting piece of junk. This is a fully reporting company listed on the OTCQX, and it always has been.

Watch for news early next week about the hiring of a new interim or perhaps even permanent CEO

Do not fall prey to the fear.

This company has not fundamentally changed one little bit

I am personally betting that this stock will be back to a dollar before the end of the year, and perhaps sooner

FCHS will continue on, regardless of where Romandetti winds up

The statement about the stock price and timing of a new CEO are IMHO

The statements about the fundamentals of the company are FACT

GD11
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elkonig elkonig 6 years ago
Due to the nature of the PR pump and dumps and the charging of the chairman/CEO of the company this ticker FCHS is on the verge of an SEC suspension and revocation. Investors had paid up to $3.50 per share here in the past and its now at 23 cents.
This ticker is doomed!
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Fedel Fedel 6 years ago
Appoint a new director. And the price for a few days will return to $ 1. It's a question of time. Look at the company's profits!
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willlbone willlbone 6 years ago
“Florida Today” released CEO arrest news story at 1:51 PM today.
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willlbone willlbone 6 years ago
Price started dropping at 3:30.
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willlbone willlbone 6 years ago
They will get a new CEO and price will bounce back.
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jockinmikeg jockinmikeg 6 years ago
8-k release. Romandetti indicted.
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willlbone willlbone 6 years ago
What happened? News?
👍️0
geodan geodan 6 years ago
Thanks Jock, had not seen. Last Q indicates they are back on track.
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jockinmikeg jockinmikeg 6 years ago
http://www.taglichbrothers.com/companyreports/firstchoicehealthcare/firstchoicehealthcare-06262018.pdf
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jockinmikeg jockinmikeg 6 years ago
Taglich Brothers Initiates Coverage of First Choice Healthcare Solutions, Inc.

6/27/18, 9:30 AM
NEW YORK, June 27, 2018 (GLOBE NEWSWIRE) -- Taglich Brothers, Inc. announces that it has initiated coverage of First Choice Healthcare Solutions, Inc. (OTC:FCHS).

First Choice Healthcare Solutions, Inc., headquartered in Melbourne, Florida operates a network of localized, integrated care platforms comprised of non-physician-owned medical centers (First Choice Medical Group, The B.A.C.K. Center, and Crane Creek Surgery Center). The company is primarily focused on treating and servicing patients in orthopaedics and spinal surgeries, as well as related diagnostic imaging and ancillary services such as physical and occupation therapy. In 2017, FCHS managed over 100,000 patient visits.

The complete 19-page report is available at www.taglichbrothers.com.

Taglich Brothers, Inc. is a full-service broker dealer focused exclusively on microcap companies. The Company defines the microcap segment of the equity market as companies with less than $250 million in market capitalization. Taglich Brothers currently offers institutional and retail brokerage services, investment banking and comprehensive research coverage to the investment community.

We do not undertake to advise you as to changes in figures or our views. This is not a solicitation of any order to buy or sell. Taglich Brothers, Inc. is fully disclosed with its clearing firm, Pershing, LLC, is not a market maker and does not sell to or buy from customers on a principal basis. The above statement is the opinion of Taglich Brothers, Inc. and is not a guarantee that the target price for the stock will be met or that predicted business results for the company will occur. There may be instances when fundamental, technical and quantitative opinions contained in this report are not in concert. We, our affiliates, any officer, director or stockholder or any member of their families may from time to time purchase or sell any of the above-mentioned or related securities. Analysts and members of the Research Department are prohibited from buying or selling securities issued by the companies that Taglich Brothers, Inc. has a research relationship with, except if ownership of such securities was prior to the start of such relationship, then an Analyst or member of the Research Department may sell such securities after obtaining expressed written permission from Compliance. All research issued by Taglich Brothers, Inc. is based on public information. As of the date of this report, we, our affiliates, any officer, director or stockholder, or any member of their families do not have a position in the stock of the company mentioned in this report. Taglich Brothers, Inc. does not currently have an Investment Banking relationship with the company mentioned in this report and was not a manager or co-manager of any offering for the company with in the last three years. All research issued by Taglich Brothers, Inc. is based on public information. In May 2018, the company paid Taglich Brothers a monetary fee of $6,000 (USD) representing payment for the creation and dissemination of research reports for three months. In October 2018, the company will begin paying Taglich Brothers a monthly monetary fee of $2,000 (USD) for the creation and dissemination of research reports.

Contact:
Rick Oh
Taglich Brothers, Inc.
631-757-1500
Primary Logo

Source: Taglich Brothers Inc
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geodan geodan 6 years ago
somehow missed this, does look good, thanks
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jockinmikeg jockinmikeg 6 years ago
Dougherty Initiates Coverage On First Choice Healthcare Solutions, Inc. with Buy Rating, Announces $2.50 Price Target

6/22/18, 10:05 AM
June 22, 2018 10:05 AM ET (BZ Newswire) -- News

Dougherty initiates coverage on FIRST CHOICE HLTHCRE INC by First Choice Healthcare Solutions, Inc. (OTCMKTS: FCHS) with a Buy rating and a $2.50 price target.

Copyright © 2018 Benzinga (BZ Newswire, http://www.benzinga.com/licensing). Benzinga does not provide investmentadvice. All rights reserved. Write to editorial@benzinga.com with any questions about this content. Subscribe to Benzinga Pro (http://pro.benzinga.com).

© 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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ProfitScout ProfitScout 6 years ago
First Choice Healthcare Solutions Reports First Quarter 2018 Results and Expansion into New Territory

MELBOURNE, Fla., May 09, 2018 (GLOBE NEWSWIRE) -- First Choice Healthcare Solutions, Inc. (OTCQB:FCHS) ("First Choice" or the "Company"), a fully integrated, non-physician-owned, publicly traded healthcare delivery platform providing a full life cycle of othopaedic and spine care for patients through diagnosis, treatment and recovery, today reported its financial results for the three-month period ended March 31, 2018.

Chris Romandetti, President and CEO of First Choice, stated, “We are pleased to report that we achieved record net patient service revenue of $8.2 million and over 51% Adjusted EBITDA growth year-over-year for the first quarter of 2018. With the recent strategic partnership with Steward Health Care we are happy to announce our expansion of the First Choice healthcare delivery platform into Indian River County, Florida. We are in the final steps of our site selection that will house our Indian River County platform. When completed, our facilities will include an imaging center, physical therapy locations and physician offices. We expect our new location will enable us to service up to an additional 3,000 surgeries per year. Given our positive first quarter 2018 results and our expansion into Vero Beach and Sebastian, Florida, we believe First Choice is well positioned to continue this momentum and growth in 2018 and beyond.”

Recent Financial and Operational Highlights

32% Increase in surgery count over comparable quarter
Crane Creek Surgery Center turned profitable in first quarter 2018
Approaching 1,000 physical therapy visits per week
Cash balance of $8.5mm or $0.26 per share
DSO improved by 20%
Extended invitations to three independent board members
Financial Results for First Quarter of 2018
Total revenue was $8.8 million for the first quarter of 2018, an increase of 14% compared to $7.7 million for the same period in 2017.

Net income attributable to First Choice was $279,338 for the first quarter of 2018, compared to net income of $202,519 for the same period in 2017, representing an increase of 38%.

Non-GAAP adjusted EBITDA was $736,077 for the first quarter of 2018, an increase of 51% compared to $487,405 for the same period in 2017. *

Conference Call and Webcast Information
The Company will host a conference call with the investment community on Wednesday, May 9th at 11:00 a.m. Eastern Time featuring remarks by Chris Romandetti, President and CEO of First Choice, and Phillip Keller, CFO of First Choice.

To access the call, please use the following information:
Date: Wednesday, May 9, 2018
Time: 11:00 a.m. EST, 8:00 a.m. PST
Toll-free dial-in number: (866) 682-6100
International dial-in number: (862) 298-0702

Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gillian Lee at 321-725-0090 extension 160.

The conference call will be broadcast live and available for replay at https://www.webcaster4.com/Webcast/Page/1527/25785 and via the investor relations section of the Company's website at http://ir.myfchs.com/.

(*) Use of Non-GAAP Financial Information
To supplement our consolidated financial statements, which are prepared and presented in accordance with GAAP, we use non-GAAP EBITDA. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. We use non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Our management believes that this non-GAAP financial measure provides meaningful supplemental information regarding our performance and liquidity by excluding certain items that may not be indicative of our recurring core business operating results. We believe that both management and investors benefit from referring to this non-GAAP financial measure in assessing our performance and when planning, forecasting, and analyzing future periods. This non-GAAP financial measure also facilitates management's internal comparisons to our historical performance and liquidity. We believe this non-GAAP financial measure is useful to investors both because they allow for greater transparency with respect to a key metric used by management in its financial and operational decision-making. For more information on this non-GAAP financial measure, please see the table captioned "Reconciliation of non-GAAP Adjusted EBITDA Performance".

Safe Harbor Statement
Certain information set forth in this news announcement may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of First Choice Healthcare Solutions, Inc. Such forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management beliefs and certain assumptions made by its management. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Information concerning factors that could cause the Company's actual results to differ materially from those contained in these forward-looking statements can be found in the Company's periodic reports on Form 10-K and Form 10-Q, and in its Current Reports on Form 8-K, filed with the Securities and Exchange Commission. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether because of new information, future events, or otherwise to reflect future events or circumstances or reflect the occurrence of unanticipated events.

About First Choice Healthcare Solutions, Inc.
Headquartered in Melbourne, Florida, First Choice Healthcare Solutions (FCHS) is implementing a defined growth strategy aimed at expanding its network of non-physician-owned medical centers of excellence, which concentrate on treating patients in the following specialties: Orthopaedics, Spine Surgery, Interventional Pain Management, Physical Therapy and other ancillary and diagnostic services in key expansion markets throughout the U.S. Serving Florida's Space Coast, the Company's flagship integrated platform currently administers over 100,000 patient visits each year and is comprised of First Choice Medical Group, The B.A.C.K. Center and Crane Creek Surgery Center. For more information, please visit www.myfchs.com, www.myfcmg.com, www.thebackcenter.net and www.cranecreeksurgerycenter.com.

Contact Information:
First Choice Healthcare Solutions, Inc.
Gillian Lee
Phone: 321-725-0090 ext. 160
Email: IR@myfchs.com

Investor Contact:
Scott Eckstein / Allison Soss
KCSA Strategic Communications
Phone: +1 (212) 896-1210/+1 (212) 896-1267
Email: FCHS@KCSA.com


FIRST CHOICE HEALTHCARE SOLUTIONS, INC
CONSOLIDATED BALANCE SHEETS
March 31, December 31,
2018 2017
ASSETS unaudited
Current assets
Cash $ 8,474,437 $ 2,015,534
Accounts receivable, net 9,908,563 8,699,714
Employee loans 1,268,487 1,155,109
Prepaid and other current assets 630,285 676,931
Total current assets 20,281,772 12,547,288
Property, plant and equipment, net 2,519,638 2,295,163
Other assets 3,824,483 3,908,781
Total assets $ 26,625,893 $ 18,751,232

LIABILITIES AND EQUITY
Current liabilities
Accounts payable and accrued expenses $ 2,545,295 $ 2,379,404
Accounts payable, related party 251,588 251,588
AMT tax payable 230,037 223,899
Line of credit, short term 440,024 440,024
Notes payable, current portion 49,515 29,552
Unearned revenue 44,557 44,607
Deferred rent, short term portion 81,410 105,171
Total current liabilities 3,642,426 3,474,245

Long term liabilities:
Deposits held 41,930 41,930
Line of Credit 1,100,000 1,100,000
Notes payable, long term portion 149,288 60,146
Deferred rent, long term portion 2,641,579 2,589,568
Total long term 3,932,797 3,791,644

Total liabilities 7,575,223 7,265,889

Temporary equity 2022 Put option 7,500,000 -

Equity
Preferred stock - -
Common stock 32,172 27,357
Additional paid in capital 24,982,457 25,185,487
Treasury stock - (249,265 )
Accumulated deficit (13,709,680 ) (13,989,018 )
Total stockholders' equity attributable to FCHS 11,304,949 10,974,561
Non-controlling interest (note 12) 245,721 510,782
Total equity 11,550,670 11,485,343
Total liabilities and equity $ 26,625,893 $ 18,751,232



FIRST CHOICE HEALTHCARE SOLUTIONS, INC
CONSOLIDATED STATEMENTS OF OPERATIONS


For the three months ended March 31,
2018 2017
Revenues: unaudited unaudited
Patient Service Revenue $ 8,481,672 $ 7,406,986
Allowance for bad debts (278,562 ) (264,996 )
Net patient service revenue less provision for bad debts 8,203,110 7,141,990
Rental Revenue 582,787 578,363
Total Revenue 8,785,897 7,720,353

Operating expenses:
Salaries and benefits 4,329,285 3,716,375
Other operating expenses 2,632,786 2,529,183
General and administrative 1,353,836 1,173,834
Depreciation and amortization 201,912 189,488
Total operating expenses 8,517,819 7,608,880

Net (loss) income from operations 268,078 111,473

Other income (expense):
Miscellaneous income (expense) 40,322 50,102
Interest expense, net (23,512 ) (32,074 )
Total other income 16,810 18,028

Net (loss) income before provision for income taxes 284,888 129,501

Income taxes (benefit) - -

Net (loss) income 284,888 129,501

Non-controlling interest (note 10) (5,550 ) 73,018

NET (LOSS) INCOME ATTRIBUTABLE TO FIRST CHOICE HEALTHCARE SOLUTIONS, INC. $ 279,338 $ 202,519

Net (loss) income per common share, basic $ 0.01 $ 0.01

Net (loss) income per common share, diluted $ 0.01 $ 0.01

Weighted average number of common shares outstanding, basic 28,610,793 26,252,505

Weighted average number of common shares outstanding, diluted 29,410,793 27,052,505




FIRST CHOICE HEALTHCARE SOLUTIONS, INC
CONSOLIDATED STATEMENTS OF CASH FLOWS

For the three months ended March 31,
2018 2017
CASH FLOWS FROM OPERATING ACTIVITIES: unaudited unaudited
Net Income $ 284,888 $ 129,501
Adjustments to reconcile net income to cash used in operating activities:
Depreciation and amortization 201,912 189,488
Bad debt expense 278,562 264,996
Stock based compensation 180,439 63,324
Changes in operating assets and liabilities:
Accounts receivable (1,487,411 ) (1,118,306 )
Prepaid expenses and other current assets 46,646 (229,258 )
Employee loans (113,378 ) (132,791 )
Accounts payable and accrued expenses 165,891 353,849
Deferred rent 28,250 51,871
Unearned income (50 ) 16,918
Net cash used in operating activities (414,251 ) (410,408 )

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of 25% interest in Crane Creek (400,000 ) -
Purchase of equipment (335,951 ) (173,729 )
Net cash (used in) provided by investing activities (735,951 ) (173,729 )

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sale of common stock 7,500,000 -
Proceeds from notes payable 120,709 22,113
Purchase of treasury stock (11,604 ) (130,125 )
Net cash provided by (used in) financing activities 7,609,105 (108,012 )

Net increase in cash, cash equivalents and restricted cash 6,458,903 (692,149 )
Cash and cash equivalents, beginning of period 2,015,534 4,593,638

Cash, cash equivalents and restricted cash, end of period $ 8,474,437 $ 3,901,489



FIRST CHOICE HEALTHCARE SOLUTIONS, INC
NON GAAP EBITDA

For the three months ended March 31,
2018 2017
NET (LOSS) INCOME ATTRIBUTABLE TO FIRST CHOICE HEALTHCARE SOLUTIONS $ 279,338 $ 202,519
Interest 23,512 32,074
Taxes - -
Depreciation and Amortization 201,912 189,488
Stock Based Compensation 231,315 63,324
Adjusted EBITDA 736,077 487,405
8.4 % 6.3 %

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jockinmikeg jockinmikeg 6 years ago
Agree. Long term I think this stock goes to $3-4. Buy and hold.
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geodan geodan 6 years ago
The deal is a big deal
Closed strategic partnership with Steward, the largest private hospital operator in the United States, to expand the FCHS business model into Steward’s national footprint.
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ProfitScout ProfitScout 6 years ago
First Choice Healthcare Solutions Reports 2017 Results and Update on Strategic Partnership with Steward Health Care

MELBOURNE, Fla., April 03, 2018 (GLOBE NEWSWIRE) -- First Choice Healthcare Solutions, Inc. (OTCQB:FCHS) ("First Choice" or the "Company"), a fully integrated, non-physician-owned, publicly traded healthcare delivery platform providing a full life cycle of orthopedic and spine care for patients through diagnosis, treatment and recovery, today reported its financial results for the year ended December 31, 2017.

Chris Romandetti, President and CEO of First Choice, stated, “2017 was a transformative year for First Choice, having achieved several significant milestones in our business that have successfully laid the foundation for future growth. Most notable is our strategic partnership with Steward Health Care (“Steward") which provides us with a large geographic opportunity to rollout our unique delivery platform to Steward’s nationwide hospital network. Additionally, Steward’s $7.5 million investment in First Choice as part of this relationship demonstrates their confidence in our business model and commitment to our partnership going forward. Since the closing, we have been working closely on the integration of the FCHS platform into Steward’s network.”

Recent Operational Highlights

Closed strategic partnership with Steward, the largest private hospital operator in the United States, to expand the FCHS business model into Steward’s national footprint.
Received investment of $7.5 million from Steward in exchange for 5 million shares of FCHS stock.
Acquired an additional 25% ownership interest in Crane Creek Surgery Center (“Crane Creek”) bringing its total ownership interest to 65%.
Assumed management responsibility of Crane Creek and appointed an experienced senior healthcare executive and administrator, Luis Allende-Ruiz, to lead operations.
Strengthened management team with the hiring of Steve Ryland, Director of Physical/Occupational Therapy and Michael Lamb, Director of Ancillary Services.
Appointed Sheila Schweitzer to the Board of Directors.
Financial Results for Full Year 2017
Total revenue was $28.7 million for the full year 2017, a decrease of approximately 2.0% from $29.5 million the prior year. Net patient service revenue was $26.5 million of total revenue in 2017, and rental revenue was $2.3 million. This is compared to net patient service revenue of $27.0 million and rental revenue of $2.4 million for the full year 2016.

Net loss from operations was $4.4 million for the full year 2017, compared to net income from operations of $0.1 million for the prior year.

Non-GAAP adjusted EBITDA was $2.5 million for the full year 2017, compared to $3.3 million for the prior year. *

In the year ended 2017, the Company changed its estimates of the allowance for doubtful accounts related to its customers, primarily based on historical experience of write-offs of outstanding accounts receivable. This change resulted in an increase compared to the year ended December 31, 2016 to the allowance for doubtful accounts by approximately $3.2 million in the year ended 2017.

Conference Call and Webcast Information
The Company will host a conference call with the investment community on Tuesday, April 3rd at 11:00 a.m. Eastern Time featuring remarks by Chris Romandetti, President and CEO of First Choice, and Phillip Keller, CFO of First Choice.

To access the call, please use the following information:
Date: Tuesday, April 3, 2018
Time: 11:00 a.m. EDT, 8:00 a.m. PDT
Toll-free dial-in number: (866) 682-6100
International dial-in number: (404) 267-0373
Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Julie Hardesty at 321-725-0090 extension 288.

The conference call will be broadcast live and available for replay at https://www.webcaster4.com/Webcast/Page/1527/25257 and via the investor relations section of the Company's website at http://ir.myfchs.com/.

(*) Use of Non-GAAP Financial Information
To supplement our consolidated financial statements, which are prepared and presented in accordance with GAAP, we use non-GAAP EBITDA. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. We use non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Our management believes that this non-GAAP financial measure provides meaningful supplemental information regarding our performance and liquidity by excluding certain items that may not be indicative of our recurring core business operating results. We believe that both management and investors benefit from referring to this non-GAAP financial measure in assessing our performance and when planning, forecasting, and analyzing future periods. This non-GAAP financial measure also facilitates management's internal comparisons to our historical performance and liquidity. We believe this non-GAAP financial measure is useful to investors both because they allow for greater transparency with respect to a key metric used by management in its financial and operational decision-making. For more information on this non-GAAP financial measure, please see the table captioned "Reconciliation of non-GAAP Adjusted EBITDA Performance".

Safe Harbor Statement
Certain information set forth in this news announcement may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of First Choice Healthcare Solutions, Inc. Such forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management beliefs and certain assumptions made by its management. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Information concerning factors that could cause the Company's actual results to differ materially from those contained in these forward-looking statements can be found in the Company's periodic reports on Form 10-K and Form 10-Q, and in its Current Reports on Form 8-K, filed with the Securities and Exchange Commission. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise to reflect future events or circumstances or reflect the occurrence of unanticipated events.

About First Choice Healthcare Solutions, Inc.
Headquartered in Melbourne, Florida, First Choice Healthcare Solutions (FCHS) is implementing a defined growth strategy aimed at expanding its network of non-physician-owned medical centers of excellence, which concentrate on treating patients in the following specialties: Orthopaedics, Spine Surgery, Interventional Pain Management, Physical Therapy and other ancillary and diagnostic services in key expansion markets throughout the U.S. Serving Florida's Space Coast, the Company's flagship integrated platform currently administers over 100,000 patient visits each year and is comprised of First Choice Medical Group, The B.A.C.K. Center and Crane Creek Surgery Center. For more information, please visit http://www.myfchs.com, http://www.myfcmg.com, http://www.thebackcenter.net and http://www.cranecreeksurgerycenter.com.

Contact Information:
First Choice Healthcare Solutions, Inc.
Julie Hardesty
Phone: 321-725-0090 ext. 288
Email: IR@myfchs.com

Investor Contact:
Valter Pinto / Allison Soss
KCSA Strategic Communications
Phone: +1 (212) 896-1254/+1 (212) 896-1267
Email: FCHS@KCSA.com

CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 2017 AND 2016
2017 2016
ASSETS
Current assets
Cash $ 2,015,534 $ 4,593,638
Accounts receivable, net 8,699,714 9,536,830
Employee loans 1,155,109 820,341
Prepaid and other current assets 676,931 422,512
Total current assets 12,547,288 15,373,321

Property, plant and equipment, net 2,295,162 2,544,816

Other assets
Total other assets 3,908,781 4,227,957

Total assets $ 18,751,232 $ 22,146,094


LIABILITIES AND EQUITY
Current liabilities
Accounts payable and accrued expenses $ 2,379,404 $ 2,083,231
Accounts payable, related party 251,588 251,588
AMT tax payable 223,899 181,029
Line of credit, short term 1,540,024 1,539,524
Notes payable, current portion 29,552 519,452
Unearned revenue 44,607 26,936
Deferred rent, short term portion 105,171 237,923
Total current liabilities 4,574,245 4,839,683

Long term liabilities:
Deposits held 41,930 41,930
Notes payable, long term portion 60,146 14,531
Deferred rent, long term portion 2,589,568 2,293,594
Total long term liabilities 2,691,644 2,350,055

Total liabilities 7,265,889 7,189,738

Equity
Preferred stock - -
Common stock 27,357 24,631
Additional paid in capital 25,185,487 24,020,610
Treasury stock (249,265 ) -
Accumulated deficit (13,989,018 ) (10,100,534 )
Total stockholders' equity attributable to FCHS 10,974,561 13,944,707
Non-controlling interest (note 12) 510,782 1,011,649
Total equity 11,485,343 14,956,356
Total liabilities and equity $ 18,751,232 $ 22,146,094


FIRST CHOICE HEALTHCARE SOLUTIONS, INC
CONSOLIDATED STATEMENTS OF OPERATIONS

For the year ended December 31,
2017 2016
Revenues:
Patient Service Revenue $ 30,678,449 $ 27,978,106
Allowance for bad debts (4,209,820 ) (924,916 )
Net patient service revenue less provision for bad debts 26,468,629 27,053,190
Rental Revenue 2,275,418 2,410,892
Total Revenue 28,744,047 29,464,082

Operating expenses:
Salaries and benefits 16,291,238 13,696,590
Other operating expenses 10,327,434 9,271,684
General and administrative 5,593,705 5,534,446
Depreciation and amortization 941,836 821,709
Total operating expenses 33,154,213 29,324,429

Net (loss) income from operations (4,410,166 ) 139,653

Other income (expense):
Gain on sale of property and improvements - 9,207,846
Miscellaneous income (expense) 120,799 278,358
Amortization financing costs - (15,654 )
Interest expense, net (99,984 ) (343,161 )
Total other income 20,815 9,127,389

Net (loss) income before provision for income taxes (4,389,351 ) 9,267,042

Income taxes (benefit) - -

Net (loss) income (4,389,351 ) 9,267,042

Non-controlling interest (note 10) 500,867 (92,659 )

NET (LOSS) INCOME ATTRIBUTABLE TO FIRST CHOICE HEALTHCARE SOLUTIONS, INC. $ (3,888,484 ) $ 9,174,383

Net (loss) income per common share, basic $ (0.15 ) $ 0.38

Net (loss) income per common share, diluted $ (0.15 ) $ 0.37

Weighted average number of common shares outstanding, basic 26,658,926
23,843,239

Weighted average number of common shares outstanding, diluted 26,658,926 24,643,239


FIRST CHOICE HEALTHCARE SOLUTIONS, INC
CONSOLIDATED STATEMENTS OF CASH FLOWS

For the year ended December 31,
2017 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) Income $ (4,389,351 ) $ 9,267,042
Adjustments to reconcile net (loss) income to cash used in operating activities:
Depreciation and amortization 941,836 821,709
Amortization of financing costs - 15,654
Bad debt expense 4,209,820 924,916
Gain on sale of property - (9,207,846 )
Stock based compensation 1,167,603 1,276,681
Changes in operating assets and liabilities:
Accounts receivable (3,372,704 ) (3,837,852 )
Prepaid expenses and other current assets (266,819 ) (105,739 )
Restricted funds - 359,414
Employee loans (334,768 ) (148,048 )
Accounts payable and accrued expenses 296,173 (2,502,528 )
Income taxes payable 42,870 -
Settlement payable - (600,000 )
Deposits 302 (25,502 )
Deferred rent 132,752 271,508
Unearned income 17,671 (15,768 )
Net cash used in operating activities (1,554,615 ) (3,506,359 )

CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sale of property - 15,113,497
Purchase of equipment (330,439 ) (254,627 )
Net cash (used in) provided by investing activities (330,439 ) 14,858,870

CASH FLOWS FROM FINANCING ACTIVITIES:
(Repayments) of advances - (43,082 )
Proceeds from notes payable 86,713 -
Proceeds from line of credit 500 372,636
Payment to acquire previously issued warrants - (600,000 )
Purchase of treasury stock (249,265 ) -
Net payments on notes payable (530,998 ) (8,083,425 )
Net cash provided by (used in) financing activities (693,050 ) (8,353,871 )

Net increase in cash, cash equivalents and restricted cash (2,578,104 ) 2,998,640
Cash and cash equivalents, beginning of period 4,593,638 1,594,998

Cash, cash equivalents and restricted cash, end of period $ 2,015,534 $ 4,593,638
FIRST CHOICE HEALTHCARE SOLUTIONS, INC
RECONCILIATION OF NON-GAAP ADJUSTED EBITDA PERFORMANCE

For the year ended December 31,
2017 2016
NET (LOSS) INCOME ATTRIBUTABLE TO FIRST CHOICE HEALTHCARE SOLUTIONS $ (3,888,484 ) $ 9,174,383
Interest 99,984 343,161
Taxes - -
Depreciation and Amortization 941,836 837,363
Bad Debt 4,209,820 924,916
Stock Based Compensation 1,144,147 1,276,681
Gain on Sale of Building - (9,207,846 )
Adjusted EBITDA $ 2,507,303 $ 3,348,658
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ProfitScout ProfitScout 6 years ago
First Choice Healthcare Solutions to Report Fourth Quarter and Full Year 2017 Results and Update on Strategic Partnership with Steward Health Care on April 3, 2018

MELBOURNE, Fla., April 02, 2018 (GLOBE NEWSWIRE) -- First Choice Healthcare Solutions, Inc. (OTCQB:FCHS) ("First Choice" or the "Company"), a fully integrated, non-physician-owned, publicly traded healthcare delivery platform providing a full life cycle of care for patients through diagnosis, treatment and recovery, today announced that it will release its financial results for the three-month period and year ended December 31, 2017, and provide an update on the strategic partnership with Steward Health Care.

The Company will host a conference call with the investment community on Tuesday, April 3rd at 11:00 a.m. Eastern Time featuring remarks by Chris Romandetti, President and CEO of First Choice, and Phillip Keller, CFO of First Choice.

To access the call, please use the following information:
Date: Tuesday, April 3, 2018
Time: 11:00 a.m. EDT, 8:00 a.m. PDT
Toll-free dial-in number: (866) 682-6100
International dial-in number: (404) 267-0373

Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Julie Hardesty at 321-725-0090 extension 288.

The conference call will be broadcast live and available for replay at https://www.webcaster4.com/Webcast/Page/1527/25257 and via the investor relations section of the Company's website at http://ir.myfchs.com/.

About First Choice Healthcare Solutions, Inc.
Headquartered in Melbourne, Florida, First Choice Healthcare Solutions (FCHS) is implementing a defined growth strategy aimed at expanding its network of non-physician-owned medical centers of excellence, which concentrate on treating patients in the following specialties: Orthopaedics, Spine Surgery, Interventional Pain Management, Physical Therapy and other ancillary and diagnostic services in key expansion markets throughout the U.S. Serving Florida's Space Coast, the Company's flagship integrated platform currently administers over 100,000 patient visits each year and is comprised of First Choice Medical Group, The B.A.C.K. Center and Crane Creek Surgery Center. For more information, please visit http://www.myfchs.com, http://www.myfcmg.com, http://www.thebackcenter.net and http://www.cranecreeksurgerycenter.com.

Contact Information:
First Choice Healthcare Solutions, Inc.
Julie Hardesty
Phone: 321-725-0090 ext. 288
Email: IR@myfchs.com

Investor Contact:
Valter Pinto / Allison Soss
KCSA Strategic Communications
Phone: +1 (212) 896-1254/+1 (212) 896-1267
Email: FCHS@KCSA.com
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ProfitScout ProfitScout 6 years ago
First Choice Healthcare Solutions Announces Appointment of Sheila Schweitzer to Board of Directors and Retirement of Donald Bittar

MELBOURNE, Fla., March 09, 2018 (GLOBE NEWSWIRE) -- First Choice Healthcare Solutions, Inc. (OTCQB:FCHS) ("First Choice" or the "Company"), one of the nation's only non-physician-owned, publicly traded healthcare services companies focused on the delivery of total musculoskeletal solutions with an emphasis on Orthopaedics and spine care, today announced the appointment of Ms. Sheila Schweitzer to the Board of Directors.

"We are honored to have an accomplished healthcare professional such as Sheila join our Board of Directors. Sheila’s wealth of experience with patients and providers will be instrumental at this critical juncture in our company history. Her involvement and advisement will allow us to continue with the growth of our business organically as well as continuing to evaluate M&A and strategic opportunities,” stated Chris Romandetti, President and CEO of First Choice.

Sheila has over 30 years of experience in the healthcare industry bringing tremendous depth of experience and success as a C-level executive, investor, and advisor. Sheila is also the founder and serves on the Board of PatientMatters Holding LLC, a technology and patient engagement firm helping healthcare providers manage patient financial obligations. Previously, she was Chairman and CEO of CareMedic, a HCIT revenue cycle management company; COO of MedUnite, a consortium of insurance/managed care companies that created a health data exchange; CEO of Presideo, a biometric security platform for HCIT systems; and SVP Operations of Envoy, the nation’s largest healthcare clearinghouse. Sheila is a recognized expert in the healthcare industry and has testified before the U.S. Congress and the Ministers of Health of the European Union on the topic of electronic transaction and claim processing. As an investor and executive, Sheila has been involved in over 40 deals totaling $3 billion.

Sheila served on the boards of Aventura, the leading provider of awareness computing, Recondo Health, and National Electronic Attachment and led its sale to KKR. Sheila was a founding member of WEDI, Workgroup for Electronic Data Interchange, and served on the ANSI X12 committee and participated in the development of the HIPAA legislation. She was Chairperson of AFEHCT, Association for Electronic Healthcare Transactions, and The Medical Banking Project and led the mergers of both with HIMSS. She has also held advisory roles with Aetna, Blue Cross and Blue Shield Association and NDC Health. Sheila holds a BS in Chemistry from Western Kentucky University.

Ms. Sheila Schweitzer commented, "Being based locally in Florida near First Choice’s facilities and intimately involved in the healthcare system of the state, I have watched closely with admiration the successful company Chris and his team have built. I look forward to working closely with the team, providing strategic insight and guidance through this transformative period.”

In conjunction with the appointment of Ms. Schweitzer, the Company also announced the retirement of Mr. Donald Bittar as a director of the Company effective March 6, 2018. "We want to thank Donald for his service and contributions to the First Choice board and wish him the best in his retirement," said Chris Romandetti.

As previously announced, Steward, the Company’s strategic partner, is in the process of nominating two directors to the FCHS board. The Company is in the final stages of seating the fifth candidate for our proposed Board of Directors.

About First Choice Healthcare Solutions, Inc.
Headquartered in Melbourne, Florida, First Choice Healthcare Solutions (FCHS) is implementing a defined growth strategy aimed at expanding its network of non-physician-owned medical centers of excellence, which concentrate on treating patients in the following specialties: Orthopaedics, Spine Surgery, Interventional Pain Management, Physical Therapy and other ancillary and diagnostic services in key expansion markets throughout the U.S. Serving Florida's Space Coast, the Company's flagship integrated platform currently administers over 100,000 patient visits each year and is comprised of First Choice Medical Group, The B.A.C.K. Center and Crane Creek Surgery Center. For more information, please visit http://www.myfchs.com, http://www.myfcmg.com, http://www.thebackcenter.net and http://www.cranecreeksurgerycenter.com.

Safe Harbor Statement
Certain information set forth in this news announcement may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of First Choice Healthcare Solutions, Inc. Such forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management beliefs and certain assumptions made by its management. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Information concerning factors that could cause the Company's actual results to differ materially from those contained in these forward-looking statements can be found in the Company's periodic reports on Form 10-K and Form 10-Q, and in its Current Reports on Form 8-K, filed with the Securities and Exchange Commission. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise to reflect future events or circumstances or reflect the occurrence of unanticipated events.

Contact Information:
First Choice Healthcare Solutions, Inc.
Julie Hardesty
Phone: 321-725-0090 ext 288
Email: IR@myfchs.com

Investor Contact:
Valter Pinto / Allison Soss
KCSA Strategic Communications
Phone: +1 (212) 896-1254/+1 (212) 896-1267
Email: FCHS@KCSA.com
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ProfitScout ProfitScout 6 years ago
First Choice Healthcare Solutions Announces Closing of Strategic Partnership with Steward Health Care

MELBOURNE, Fla., March 02, 2018 (GLOBE NEWSWIRE) -- First Choice Healthcare Solutions, Inc. (OTCQB:FCHS) ("First Choice" or the "Company"), a fully integrated, non-physician-owned, publicly traded healthcare delivery platform providing a full life cycle of care for patients through diagnosis, treatment and recovery, today announced the closing of its strategic partnership with Steward Health Care System (“Steward”), the largest private hospital operator in the United States. The closing was formalized with Steward’s investment of $7.5 million in exchange for 5 million shares of FCHS stock.

First Choice has been given the opportunity to expand its orthopaedic and spine care delivery platform into Steward’s nationwide hospital network. As strategic partners, First Choice and Steward are in the process of evaluating the next Steward Hospital System where First Choice can implement its targeted delivery platform. Also, as previously announced, Steward is now in the final steps of identifying two board members for appointment to First Choice’s board of directors.

Chris Romandetti, President and CEO of First Choice, stated, "The finalization and closing of this strategic partnership with Steward provides excellent momentum for all parties involved. An investment of this magnitude allows First Choice to expeditiously continue to rollout our unique and proven delivery platform among Steward’s nationwide network. Our team is proud to create a healthcare delivery platform that is capable of changing the lives of so many throughout the nation. Both teams have worked long and hard to improve healthcare, and the alignment of our two Companies will allow this growth to flourish.”

About Steward Health Care
Steward Health Care, the largest private hospital operator in the United States, is a physician-led health care services organization committed to providing the highest quality of care in the communities where patients live. Headquartered in Boston, Massachusetts, Steward operates 36 community hospitals nationwide that employ approximately 37,000 people and regularly receive top awards for quality and safety. The Steward network includes more than 26 urgent care centers, 42 preferred skilled nursing facilities, substantial behavioral health services, over 7,300 beds under management, and more than 1.5 million full risk covered lives through the company’s managed care and health insurance services. The total number of paneled lives within Steward’s integrated care network is projected to reach 3 million in 2018.

Steward’s unique health care service delivery model leverages technology, innovation, and care coordination to keep patients healthier. With a culture that prioritizes agility, resourcefulness, and continuous improvement, Steward is recognized as one of the nation’s leading accountable care organizations. The Steward Health Care Network includes thousands of physicians who help to provide more than 12 million patient encounters per year. Steward Medical Group, the company’s employed physician group, provides more than 1 million patient encounters per year. The Steward Hospital Group operates hospitals in Arizona, Arkansas, Colorado, Florida, Louisiana, Massachusetts, Ohio, Pennsylvania, Texas, and Utah.

About First Choice Healthcare Solutions, Inc.
Headquartered in Melbourne, Florida, First Choice Healthcare Solutions (FCHS) is implementing a defined growth strategy aimed at expanding its network of non-physician-owned medical centers of excellence, which concentrate on treating patients in the following specialties: Orthopaedics, Spine Surgery, Interventional Pain Management, Physical Therapy and other ancillary and diagnostic services in key expansion markets throughout the U.S. Serving Florida's Space Coast, the Company's flagship integrated platform currently administers over 100,000 patient visits each year and is comprised of First Choice Medical Group, The B.A.C.K. Center and Crane Creek Surgery Center. For more information, please visit http://www.myfchs.com, http://www.myfcmg.com, http://www.thebackcenter.net and http://www.cranecreeksurgerycenter.com.

Safe Harbor Statement
Certain information set forth in this news announcement may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of First Choice Healthcare Solutions, Inc. Such forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management beliefs and certain assumptions made by its management. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Information concerning factors that could cause the Company's actual results to differ materially from those contained in these forward-looking statements can be found in the Company's periodic reports on Form 10-K and Form 10-Q, and in its Current Reports on Form 8-K, filed with the Securities and Exchange Commission. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise to reflect future events or circumstances or reflect the occurrence of unanticipated events.

Contact Information:
First Choice Healthcare Solutions, Inc.
Julie Hardesty
Phone: 321-725-0090 ext 288
Email: IR@myfchs.com

Investor Contact:
Valter Pinto / Allison Soss
KCSA Strategic Communications
Phone: +1 (212) 896-1254/+1 (212) 896-1267
Email: FCHS@KCSA.com
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jockinmikeg jockinmikeg 6 years ago
FCHS trading heavy volume HOD ($1.44) in a bloody market. Shares priced in the partnership @ $1.50 share, no additional shares issued, and Steward entered clause to not sell any of its 5M shares until 2022. Looks like a big win.
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