Medical Facilities Corporation Announces Third Quarter Results
Medical Facilities Corporation Announces Third Quarter Results |
| [06-November-2025] |
TORONTO, Nov. 6, 2025 /CNW/ - Medical Facilities Corporation ("Medical Facilities," "MFC," or the "Corporation") (TSX: DR), reported its financial results today for the three-month and nine-month periods ended September 30, 2025. All amounts are expressed in U.S. dollars unless indicated otherwise. Q3 2025 Highlights
"Our third quarter results reflect the strength and stability of our highly rated, high-quality surgical facilities," said Jason Redman, President and CEO of Medical Facilities. "As expected, surgical case volumes at Sioux Falls Specialty Hospital rebounded nicely after a key referral group moved its clinic to a new location earlier in the year. On a consolidated basis, favourable impacts from case and payor mix, along with payor rate increases and higher surgical case volumes, drove growth in facility service revenue as well as increased income from operations and EBITDA on a normalized basis. Our balance sheet remained strong, and we continued to buy back shares under our NCIB."
Net income fluctuates significantly between the periods, primarily due to variations in non-cash finance costs (change in the value of exchangeable interest liability) and income taxes; these charges are incurred at the corporate level rather than at the facility level.
During the quarter, MFC paid a quarterly cash dividend of C$0.09 per common share (or C$0.36 per share on an annualized basis), which represented an annualized yield of 2.55% on the September 30, 2025, closing price of C$14.14 per common share. On September 30, 2025, MFC had consolidated net working capital of $43.0 million and cash and cash equivalents of $46.8 million compared to net working capital of $76.4 million and cash and cash equivalents of $108.5 million as at December 31, 2024. The change in consolidated net working capital was mainly due to the completion of the substantial issuer bid in March 2025, resulting in a decrease in cash and cash equivalents, in addition to the $14.4 million tax payment in April 2025 related to the sale of Black Hills Surgical Hospital. MFC's financial statements and management's discussion and analysis, for the three and nine months ended September 30, 2025, will be filed on SEDAR+ at www.sedarplus.ca on Thursday, November 6, 2025, and will also be available on Medical Facilities' website at www.medicalfacilitiescorp.ca. Notice of Conference Call Management of MFC will host a conference call today at 8:30 am ET to discuss its third quarter financial results. You may join the conference call by dialing 1-888-699-1199 approximately 15 minutes prior to the call to secure a line. To join the call without operator assistance, you may register and enter your phone number at https://emportal.ink/3WImckZ to receive an instant automated call back. A live audio webcast of the call will be available at https://app.webinar.net/3BAxwRZwVdq. Please connect at least 15 minutes prior to the call to allow time for any software download that may be required to join the webcast. The webcast will be archived on MFC's website following the call date. About Medical Facilities Medical Facilities, in partnership with physicians, owns a portfolio of highly rated, high-quality surgical facilities in the United States. Medical Facilities' 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. 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, except as required by applicable law; such statements speak only as of the date made.
SOURCE Medical Facilities Corporation | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Company Codes: Toronto:DR | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
