Medical Facilities Corporation (MFC) owns 51%+ interest
in five specialty surgical hospitals, located in South Dakota, Oklahoma,
and Arkansas, as well as 51% in an ambulatory surgery center in
California. The specialty surgical hospitals ("SSHs")
perform scheduled surgical, imaging and diagnostic procedures and,
combined, have a total of 43 operating rooms and 142 overnight rooms.
The ambulatory surgery center ("ASC") specializes in outpatient
procedures, with patient stays of less than 24 hours. The ASC has
three operating rooms and one procedure room.
Our unique management philosophy focuses on efficiency
and productivity of our facilities. MFC revenues come from the facility
fee charged to the patient, or their insurer. This facility fee
is for the use of our infrastructure, surgical equipment, nursing
staff, non-surgical professional services, drugs and supplies, and
other support services.
The MFC specialty hospitals are dramatically different
than traditional hospitals. Our goal is to create a superior environment
so that use of our facilities is the first choice of patients and
their surgeons. We achieve a superior environment by focusing on
a limited number of surgical, imaging and diagnostic procedures,
and by offering 'five star hotel' surroundings and service. For
the surgeon, the MFC hospitals provide efficiency and increased
productivity as well as a pleasant work environment. We offer surgeons
such benefits as the ability to schedule consecutive cases without
pre-emption by emergency procedures, efficient turnaround time between
cases and simplified administrative procedures. For the payor, we
provide a competitive alternative to traditional hospitals.
MFC pays out a majority of its free cash flows
from operations to holders of its common shares in the form of a
monthly dividend. MFC is a British Columbia corporation and is considered
Canadian property. Its common shares trade on the Toronto Stock
Exchange under the symbol DR.