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Medical Facilities Corporation Announces Discharge, Termination and Delisting of Debentures

December 02, 2019

TORONTO, Dec. 2, 2019 /CNW/ - Medical Facilities Corporation ("Medical Facilities", "MFC" or the "Corporation") today announced that it plans to discharge its outstanding 5.9% convertible unsecured subordinated debentures.  The debentures are listed for trading on the Toronto Stock Exchange (the "TSX") under the symbol "DR.DB.A." and are scheduled to mature on December 31, 2019.

The Corporation intends to discharge the trust indenture governing the debentures, and to immediately terminate the debentures, as of December 31, 2019.  MFC will pay to the holders of debentures as of that date, the principal amount of the debentures, plus the interest payments on the debentures through to the maturity date.  The funds will be deposited with the indenture trustee. The debentures will be de-listed from the TSX on or about December 31, 2019.

About Medical Facilities
Medical Facilities, in partnership with physicians, owns surgical facilities in the United States. Medical Facilities' portfolio includes controlling interest in five specialty surgical hospitals located in Arkansas, Indiana, Oklahoma, and South Dakota, and an ambulatory surgery center located in California. In addition, through a partnership with NueHealth LLC, Medical Facilities owns controlling interest in seven ambulatory surgery centers located in Arkansas, Michigan, Missouri, Nebraska, Ohio, Oregon, and Pennsylvania. 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 ambulatory surgery centers specialize 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. 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

David Watson, Chief Financial Officer, Medical Facilities Corporation, 416.848.7380 or 1.877.402.7162, investors@medicalfc.com; Trevor Heisler, Investor Relations, NATIONAL Capital Markets, 416.848.1434, theisler@national.ca