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Last updated on April 16, 2014 at 4:54 EDT

Northstar Healthcare Announces Closing Second Round of Re-Syndication at Dallas-Area Surgery Center

January 7, 2013

HOUSTON, TX, Jan. 7, 2013 /CNW/ – Northstar Healthcare Inc. (TSX: NHC)
today announced the closing on December 31, 2012 of a private placement
offering for equity at Northstar’s affiliated Dallas-area ambulatory
surgery center, Microsurgery Institute, LLC.  As a result of the
placement three well-respected physicians either individually or
through investment vehicles will now be affiliated with Microsurgery.

Dr. Donald Kramer, Chief Executive Officer of Northstar, commented that,
“finalizing the second round of re-syndication at our Dallas center
represents another milestone in Northstar’s continuing turnaround.  In
August we finalized a new strategic partnership with a busy and
reputable spine surgeon and then set ourselves a goal of attracting new
physician-talent to the center.  Now, several well-respected Dallas
practitioners have affiliated with Microsurgery and are performing
cases there. We hope that as Microsurgery continues to grow, it will
also continue to attract this caliber of talent. Physician acquisition
is a key part of our two-pronged growth strategy.  The other being
Northstar’s direct-to-consumer marketing, which also continues to
expand.”

About Northstar Healthcare Inc.
Northstar partners with physicians in the ownership and management of
ambulatory facilities and healthcare services. Northstar owns and
manages interests in three ambulatory surgery centers, two in Houston
and the third in Dallas.

Forward-looking statements
This news release may contain forward-looking statements (within the
meaning of applicable securities laws) relating to business of
Northstar Healthcare Inc. (the “Company”) and the environment in which
it operates. Forward-looking statements are identified by words such as
“believe”, “anticipate”, “expect”, “intend”, “plan”, “will”, “may” and
other similar expressions. These statements are based on the Company’s
expectations, estimates, forecasts and projections. They are not
guarantees of future performance and involve risks and uncertainties
that are difficult to control or predict. These risks and uncertainties
are discussed in the Company’s regulatory filings available on the
Company’s web site at www.Northstar-Healthcare.com or at www.sedar.com. There can be no assurance that forward-looking statements will prove
to be accurate as actual outcomes and results may differ materially
from those expressed in these forward-looking statements. Readers,
therefore, should not place undue reliance on any such forward-looking
statements. Further, a forward-looking statement speaks only as of the
date on which such statement is made. The Company undertakes no
obligation to publicly update any such statement or to reflect new
information or the occurrence of future events or circumstances.

SOURCE Northstar Healthcare Inc.


Source: PR Newswire