Northstar Healthcare Announces Closing of Private Placement of Two Million Common Shares

HOUSTON, TX, Feb. 9, 2012 /CNW/ - Northstar Healthcare Inc. (TSX:NHC) today announced that it has approval to close the $0.20 non-brokered private placement announced on January 30, 2012 (the "Private Placement").

The Company raised gross proceeds of $400,000.00 from the sale of 2,000,000 common shares at a price of CDN $0.20 (US$0.20) per share.  The shares are subject to a two year hold period expiring February 8, 2014.

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.

Thomas Foster
Tel: [phone]
E-mail: [email protected]