Medical Facilities Corporation Announces Leadership Change

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Jason Redman to run a healthcare business

TORONTO, October 21, 2022 /CNW/ – Medical Facilities Corporation (TSX: DR) (“Medical Facilities” or the “Company”) today announced the appointment of Jason Redman as Interim President and Chief Executive Officer, replacing Rob Horary who stepped down as President and Chief Executive Officer and as a member of the Board of Directors. Mr. Redman joined the Medical Facilities Board earlier this year and will remain a board member.

Mr. Redman brings over 20 years of experience in operations and financial management. He is an experienced senior executive who served as Chief Financial Officer at Newstrike Brands Ltd., Chief Financial Officer at SiriusXM Canada and President at Armtec Infrastructure Inc.

Mr. Redman is a Canadian Chartered Accountant, Chartered Professional Accountant and US Certified Public Accountant from Delaware. He holds a master’s degree in accounting from the University of Waterloo and a Masters in Business Administration from the Kellogg School of Management – Northwestern University. He is also a recipient of the Governor General’s Medal of Canada and a former member of the Young Presidents’ Organization – Toronto Chapter.

“The Board of Directors is confident that we have in Jason an extraordinary person to lead medical facilities towards their strategic goals, while maintaining support for our hospitals and centers and continuing the excellence in patient care for which our institutions are so well known in their communities,” said Michael Gisser, Chairman of the Board of Medical Facilities. “Jason has had a distinguished career in executive leadership during which he has demonstrated an outstanding track record of success. . With the combination of his deep operational and financial skills and his commitment to delivering results, we are confident that the company is on the right trajectory as we execute on our announced value creation initiatives. »

“I am honored to assume leadership of the medical facilities during this exciting time,” Mr. Redman said. “The company has always met the stringent demands of the U.S. healthcare environment and is in an excellent position to drive financial performance and deliver value to our stakeholders. Together with our hospital management and centers and our physician partners, we look forward to unlocking additional shareholder value.”

Rob Horary was President and CEO of Medical Facilities since 2017 and Chief Operating Officer prior to his appointment as CEO.

“On behalf of the Board of Directors, I would like to thank Rob Horrar for his years of dedicated leadership and professionalism as CEO of Medical Facilities and for his significant contributions to society. We wish Rob every success in his future endeavours,” Mr. Gisser commented.

About the Medical Facilities Corporation

Medical Facilities, in partnership with physicians, has a diverse portfolio of highly rated, high quality surgical facilities in United States. MFC’s ownership includes a controlling interest in four specialty surgical hospitals located in Arkansas, Oklahomaand South Dakotaand an Ambulatory Surgery Center (“ASC”) located at California. Additionally, through a partnership with NueHealth LLC, Medical Facilities owns a controlling interest in five ambulatory surgery centers located in Michigan, Missouri, Nebraska, Ohioand Pennsylvania. MFC also has non-controlling interests in a specialty surgical hospital in Indiana and an ASC in Missouri. Specialty surgical hospitals perform surgical, imaging, diagnostic and other procedures, including primary and urgent care, and derive their income from fees charged for the use of their facilities. ASCs specialize in outpatient surgery, with stays of less than 24 hours. For more information, please visit www.medicalfacilitiescorp.ca.

Caution Regarding Forward-Looking Statements

Statements made in this press release, other than those regarding historical financial information, may be forward-looking and therefore subject to various risks and uncertainties. Certain forward-looking statements may be identified by words such as “may”, “will”, “anticipate”, “estimate”, “expect”, “intend” or “continue” or their negative form or similar variants and include statements about the Company’s normal course issuer bid. Certain important factors or assumptions are applied to make forward-looking statements and actual results may differ materially from those expressed or implied by such statements. Factors that could cause results to vary include those identified in filings by medical institutions with Canadian securities regulators, such as legislative or regulatory developments, increased competition, changes in technology and market conditions. general economics. All forward-looking statements presented herein should be read in conjunction with these materials. Medical Facilities does not undertake to update any forward-looking statements; these statements speak only as of the date on which they were made.

SOURCE Medical Facilities Society

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View original content: http://www.newswire.ca/en/releases/archive/October2022/21/c1921.html

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