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Medical Facilities Corporation Announces Results of 2022 Annual and Special Meeting of Shareholders

June 21, 2022

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, June 21, 2022 /CNW/ - Medical Facilities Corporation (TSX: DR) ("Medical Facilities" or the "Corporation") announced that the nominees listed in the management information circular for the 2022 Annual and Special Meeting of Shareholders (the "Meeting") held on June 21, 2022 via online webcast were elected as directors of the Corporation.

Detailed results of the votes by proxy for the election of directors are set out below.

Nominee

Votes
For

% of Votes
For

Votes
Withheld

% of Votes
Withheld

Lois Cormack

11,199,829

83.56 %

2,203,457

16.44 %

Stephen Dineley

12,351,576

92.15 %

1,051,710

7.85 %

Erin S. Enright

12,498,913

93.25 %

904,373

6.75 %

Michael Gisser

13,184,839

98.37 %

218,447

1.63 %

Robert O. Horrar

12,302,940

91.79 %

1,100,346

8.21 %

Jason Redman

12,707,881

94.81 %

695,405

5.19 %

Reza Shahim

12,431,605

92.75 %

971,681

7.25 %

At the Meeting, the shareholders of the Corporation also approved (i) the re-appointment of KPMG LLP as auditors of the Corporation and authorized the board of directors of the Corporation to fix their remuneration, with 93.48% of the votes in favour, and (ii) a special resolution in respect of an amendment to the articles of the Corporation to remove the requirement that majority of directors be resident Canadians, with 94.04% of the votes in favour.

About Medical Facilities Corporation

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