Pacer Health Corporation Signs LOI to Acquire Interest in Louisiana Hospital; Group of Physician Investors Selects Pacer Health As Management and Equity Partner
Posted on: Thursday, 17 November 2005, 09:00 CST
Pacer Health Corporation (OTCBB: PHLH), an owner-operator of acute care hospitals, medical treatment centers and psychiatric care facilities in the Southeastern United States, announced today that it has signed a binding letter of intent to acquire a majority interest in Southpark Community Hospital, a 54,000-square foot, acute care hospital located in South Lafayette, Louisiana.
Southpark was developed by a group consisting of 37 physician investors, who have selected Pacer Health as their management and equity partner. Under the terms of the agreement, Pacer Health will assume full management of the facility by December 1, 2005.
"We are honored that this group of doctors has selected Pacer Health as their equity partner; it is a wonderful vote of confidence from a very esteemed group of healthcare professionals," said Rainier Gonzalez, chairman and CEO of Pacer Health. "We believe that together with our new physician partners, we can grow Southpark to become a flagship for our company."
Southpark Community Hospital primarily serves the residents of South Lafayette, Youngsville and Broussard, Louisiana - areas that have experienced considerable, recent population growth. The hospital, opened in August of this year, offers a comprehensive suite of acute care services including inpatient and outpatient surgery, radiology services and 24-hour laboratory. Southpark's facilities include beautiful private patient rooms, 16 PACU/RR observation beds, 16 acute care beds and three intensive care beds. Its medical staff consists of more than 90 physicians in all.
Pacer Health specializes in the operation of medical facilities. The company plans to continue expanding its business over the next several years, largely through the acquisition of additional medical facilities and the consolidation of these properties under the Pacer Health business model.
About Pacer Health Corporation
Pacer Health Corporation is an owner-operator of acute care hospitals, medical treatment centers, and psychiatric care facilities, primarily serving the growing senior citizen population and non-urban areas throughout the Southeast. Please visit http://www.pacerhealth.com for more information.
Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. Pacer Health disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new services and markets for our services, the level of demand and market acceptance of our services, and changes in our business strategies.
Source: Business Wire
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