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Medical Facilities Corporation Announces Expansion at Arkansas Surgical Hospital

March 29, 2021

TORONTO, March 29, 2021 /CNW/ - Medical Facilities Corporation ("Medical Facilities," "MFC," or the "Corporation") (TSX: DR) announced today that Arkansas Surgical Hospital ("ASH" or the "Hospital") is undertaking a 4,590 square foot expansion project to add two operating rooms and three new recovery beds in its post-anesthesia care unit. The project is expected to be completed by the end of the year.

"The additional space is required for five new surgeons who joined the Hospital last year," said Brian Fowler, Chief Executive Officer of ASH. "This expansion will ultimately allow more patients to access specialty care in our five-star hospital that prides itself on efficient, high quality service in a hotel-like setting."

"We are excited about the expansion project underway at ASH," said Robert O. Horrar, President and Chief Executive Officer of Medical Facilities. "Our facilities, including ASH, continue to rank as the best hospitals in the United States for high quality of care. ASH was the only hospital in Arkansas named among Healthgrades' 100 best U.S. hospitals for spine surgery in 2020, having also won awards for outstanding patient experience and patient safety excellence."

Once the expansion project is complete, the Hospital, in which MFC, through its wholly-owned subsidiaries, has a 51% ownership interest, will have 13 operating rooms. Located in North Little Rock, Arkansas, ASH specializes in orthopedic and spine surgeries. Additional services include breast oncology and reconstructive surgeries, pain management, and diagnostic imaging procedures, including computerized tomography (CT), Magnetic resonance imaging (MRI) and myelography.

About Medical Facilities

Medical Facilities, in partnership with physicians, owns a diverse portfolio of highly rated, high-quality surgical facilities in the United States. MFC's ownership includes controlling interest in four specialty surgical hospitals located in Arkansas, Oklahoma, and South Dakota, and an ambulatory surgery center ("ASC") located in California. In addition, through a partnership with NueHealth LLC, Medical Facilities owns a controlling interest in five ambulatory surgery centers located in Michigan, Missouri, Nebraska, Ohio, and Pennsylvania. MFC also owns non-controlling interests in a specialty surgical hospital in Indiana and an ASC in Missouri. 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 ASCs 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