TORONTO,
June 12, 2017
/CNW/ - Medical Facilities Corporation (TSX: DR) ("Medical
Facilities" "MFC," the "Company," or the "Corporation") today
announced that President and CEO Britt T.
Reynolds has left the Corporation and resigned as a member
of the board.
Jeffrey Lozon CM, a member of the board, has been
appointed interim CEO and will work with the Corporation's senior
management team including Chief Financial Officer, Tyler Murphy, Chief Development Officer,
James Rolfe and newly appointed
Chief Operating Officer, Rob
Horrar.
Mr. Lozon has more than 30 years' experience in leading
healthcare organizations in both Canada and the U.S. This experience includes
serving as CEO of St. Michael's
Hospital, a University of Toronto
teaching hospital, and CEO of Revera Living Inc., a leading
provider of seniors' care and accommodation in Canada and the
United States. He has also served as Deputy Minister of
Health for the Province of Ontario. On the MFC board, he served as
co-chair of the Corporate Governance, Nominating and Compensation
Committee and as a member of the Business Development and
Acquisition Committee. Jeff will remain a director of the
Corporation.
"We are pleased that Jeff is stepping into this role,"
stated Marilynne Day-Linton, Chair
of the Board. "His leadership experience in both the U.S. and
Canadian healthcare markets, as well as his knowledge of MFC's
business and strategy, make him well-suited to direct the
Corporation through this transition. The Company's growth strategy
and the strong expertise in both the senior management team and
leadership at the centers securely positions MFC for continued
success."
"Medical Facilities Corporation has a track record of
delivering shareholder value, and is well-positioned to take
advantage of the opportunities for accretive growth in the U.S.
healthcare market," said Jeff Lozon.
"I am committed to working with our senior management and our local
leadership teams to ensure that we successfully execute on our
strategy to capture these opportunities."
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