Medical Facilities Corporation Announces Board Changes
TORONTO, March 3, 2025 /CNW/ - Medical Facilities Corporation ("MFC" or the "Corporation") (TSX: DR), today announced the appointment of Peter Brimm and Jeremy Klaperman to the Board of Directors of the Corporation (the "Board") and the resignation of Yanick Blanchard from the Board as part of a Board refresh. The Corporation expects that Erin Enright and Reza Shahim will not be standing for re-election as Directors of the Corporation at the next annual general meeting of the Corporation ("AGM"), and thus the Board will consist of five directors following the AGM. Mr. Brimm and Mr. Klaperman have joined the Audit Committee of the Board, with Mr. Klaperman being appointed as Chair of the Audit Committee, replacing Mr. Blanchard.
"Both Mr. Brimm and Mr. Klaperman bring extensive financial acumen to the Board, as well as C-suite and board leadership experience. We are thrilled to have both of them join the MFC Board as we continue to execute on our strategy," noted Jason Redman, CEO.
Adina Storch, Chair of the Board, expressed her gratitude to Mr. Blanchard, "The Board would like to thank Mr. Blanchard for his insightful contributions and dedication to the Corporation throughout his tenure on the Board, particularly as Chair of the Audit Committee, and we wish him continued success."
About Medical Facilities
Medical Facilities, in partnership with physicians, owns a portfolio of highly rated, high-quality surgical facilities in the United States. MFC's ownership includes controlling interests in three specialty surgical hospitals located in Arkansas, Oklahoma, and South Dakota, and an ambulatory surgery center ("ASC") located in California. The specialty surgical 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 ASC specializes in outpatient surgical procedures, with patient stays of less than 24 hours. 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 and include statements about the Company's future Board composition. 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