Medical Facilities Corporation Announces Exemptive Relief in Substantial Issuer Bid

TORONTO, Feb. 11, 2025 /CNW/ - Medical Facilities Corporation ("Medical Facilities" or the "Corporation") (TSX: DR), announced today that, in connection with the Corporation's ongoing substantial issuer bid (the "Offer"), the Ontario Securities Commission has granted an order (the "Relief Order") permitting Medical Facilities to extend the Offer, if it determines to do so, without first taking up any common shares of the Corporation (the "Common Shares") previously deposited.  For technical reasons the Offer could not be extended without the Relief Order.

At this time, Medical Facilities has not yet determined if it will extend the Offer, and the expiration of the Offer remains 11:59 p.m. (Eastern time) on February 24, 2025 (the "Expiry Time"). In the event the Offer is extended, the Corporation will provide a further news release disclosing the details of such extension.

Details of the Offer, including instructions for tendering Common Shares, are included in the offer to purchase and issuer bid circular, letter of transmittal and the notice of guaranteed delivery filed by the Corporation in connection with the Offer (collectively, the "Offer Documents"). Provided that the notice of guaranteed delivery is received prior to the Expiry Time, the Corporation will accept the associated share certificates and letter of transmittal that are received on or before the end of the second trading day on the Toronto Stock Exchange after the Expiry Time.

The Offer Documents are available on SEDAR+ at www.sedarplus.ca, as well as on the Corporation's website at www.medicalfacilitiescorp.ca. Shareholders should carefully read the Offer Documents prior to making a decision with respect to the Offer.

This press release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell the Common Shares. The solicitation and the offer to buy the Common Shares will only be made pursuant to the Offer Documents.

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 and include statements about the Offer. 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

For further information, please contact: David Watson, Chief Financial Officer, Medical Facilities Corporation, 615.721.2290, [email protected]; Trevor Heisler, Vice President, MBC Capital Markets Advisors, 416.848.7380, [email protected]