Healthcare Veteran Robert O. Horrar to Lead
Growing Company
TORONTO, Oct. 24, 2017 /CNW/ - Medical Facilities
Corporation ("Medical Facilities" or the "Company") (TSX: DR)
announced today the appointment of Robert
O. Horrar as President and Chief Executive Officer effective
October 25, 2017. Mr. Horrar
previously served as Chief Operating Officer of Medical
Facilities.
"After a thorough search process, the Board of Directors is
confident we have found the best individual to assume leadership of
Medical Facilities," said Marilynne
Day-Linton, Chair of the Board of Directors. "Rob brings a
track record of strong leadership, which he has demonstrated during
his tenure as the Company's COO. With the combination of his deep
industry knowledge, effective personal style and commitment to
producing results, we are confident of Rob's ability to lead the
Company."
As President and CEO, Mr. Horrar will work closely with the
Board, Hospital and Center leadership, and physician partners to
ensure the Company further strengthens the excellent patient care
offered at its facilities throughout the U.S. and pursues dynamic
growth opportunities in today's evolving healthcare landscape.
"I am honored to assume leadership of Medical Facilities during
such an exciting time of change and opportunity in the industry,"
said Mr. Horrar. "The Company has successfully evolved to meet the
ever-changing demands of the U.S. healthcare environment and is in
an excellent position to achieve both organic and acquisitive
growth. In tandem with our Hospital and Center leadership and
physician partners, I look forward to further building shareholder
value."
Rob Horrar is a 25-year
healthcare veteran, having served in various leadership positions
at prominent healthcare organizations including Community Health
Systems (CHS), Inc. and Humana, Inc. Most recently, he served as a
Division President of CHS where he was responsible for overseeing
the operations of affiliated hospitals in Indiana, Tennessee and West
Virginia. Before CHS, Rob served in several key management
positions at Humana, Inc. He holds a Bachelor of Science degree in
economics from Centre College in
Kentucky and a Master of Science
in Healthcare Administration from Trinity
University in Texas.
Rob Horrar replaces Jeffrey Lozon, interim President and CEO of
Medical Facilities. Mr. Lozon will continue as a director of the
Company.
"On behalf of the Board I would like to thank Jeff Lozon for his leadership, professionalism
and guidance as interim President and CEO, and I look forward to a
seamless transition and the continued execution of our growth
strategy," added Ms. Day-Linton.
About Medical Facilities Corporation
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.
Caution concerning forward-looking
statements
Statements made in this news release, other
than those concerning historical financial information, may be
forward-looking and therefore subject to various risks and
uncertainties. Some forward-looking statements may be
identified by words like "may", "will", "anticipate", "estimate",
"expect", "intend", or "continue" or the negative thereof or
similar variations. Certain material factors or assumptions
are applied in making forward-looking statements and actual results
may differ materially from those expressed or implied in such
statements. Factors that could cause results to vary include
those identified in Medical Facilities' filings with Canadian
securities regulatory authorities such as legislative or regulatory
developments, intensifying competition, technological change and
general economic conditions. All forward-looking statements
presented herein should be considered in conjunction with such
filings. Medical Facilities does not undertake to update any
forward-looking statements; such statements speak only as of the
date made.
SOURCE Medical Facilities Corporation