First Choice Healthcare Solutio (FCHS) research, news, and more from GeoInvesting

Company description

Thu, 08 Feb 2018 13:51:12 GMT

First Choice Healthcare Solutions, Inc., through its subsidiaries, provides healthcare services in the United States. The company's network of non-physician-owned medical centers offer musculoskeletal and rehabilitative care services specializing in orthopaedics, spine surgery, neurology, interventional pain management, and ambulatory surgical care. It also provides ancillary and diagnostic services comprising magnetic resonance imaging, X-ray, durable medical equipment, and physical/occupational therapy. In addition, the company subleases 29,629 square feet of commercial office space to affiliated and nonaffiliated tenants. The company is headquartered in Melbourne, Florida.

Research

Wed, 15 Aug 2018 14:48:55 GMT

First Choice Health Care (OOTC:FCHS) ($1.20; $39.0M market cap), a provider of healthcare services through a network of non-physician-owned medical centers in the United States announced Q2 2018 results:

Sales of $9.4 million vs $8.2 million
EPS of $0.01 vs $0.00

Results were via the company’s 10-Q, with no press release at this time.

Research

Fri, 22 Jun 2018 15:31:13 GMT

First Choice Health Care (OOTC:FCHS) ($1.26; $41.0M market cap), a provider of healthcare services through a network of non-physician-owned medical centers in the United States, sat down with Maj in late May to discuss:

An introduction of the new Steward Health relationship
Efficiencies created by this relationship
How Steward helps capital expenditures
EBITDA expansion

First Choice joined the Executive Casts platform, currently hosted on GeoInvesting, in 2017. You can see his discussion on these topics here and for the remaining segments of the latest interview, please go here.

Research

Wed, 09 May 2018 14:26:39 GMT

First Choice Health Care (OOTC:FCHS) ($1.28; $41.1M market cap), a provider of healthcare services through a network of non-physician-owned medical centers in the United States, announced Q1 2018 results:

Sales of $8.8 million vs $7.7 million in the prior year
EPS of $0.01 vs $0.01 in the prior year

Quotes from management:

“We are pleased to report that we achieved record net patient service revenue of $8.2 million and over 51% Adjusted EBITDA growth year-over-year for the first quarter of 2018. With the recent strategic partnership with Steward Health Care we are happy to announce our expansion of the First Choice healthcare delivery platform into Indian River County, Florida. We are in the final steps of our site selection that will house our Indian River County platform. When completed, our facilities will include an imaging center, physical therapy locations and physician offices. We expect our new location will enable us to service up to an additional 3,000 surgeries per year. Given our positive first quarter 2018 results and our expansion into Vero Beach and Sebastian, Florida, we believe First Choice is well positioned to continue this momentum and growth in 2018 and beyond.”

First Choice joined the Executive Casts platform on GeoInvesting in 2017. In the latest update, posted on January 8, 2018, CEO Chris Romandetti commented on his goals for 2018 and beyond. You can see the segments of that interview here. We have a follow up interview coming soon.

Research

Thu, 08 Feb 2018 05:00:00 GMT

First Choice Health Care (OOTC:FCHS) ($1.30; $35.3M market cap), a provider of healthcare services through a network of non-physician-owned medical centers in the United States, announced that it has entered into a strategic partnership with Steward Health Care wherein Steward will make an investment of $7.5M to purchase $5M shares of stock. This partnership will allow FCHS to expand its delivery system of orthopaedic and spine care, with the assistance of Steward and its resources.

Currently, First Choice Medical Group of Brevard, a subsidiary of FCHS, utilizes two of Steward’s Florida facilities. Through such utilization, FCHS has proven their ability to deliver high quality patient care, while reducing costs and maintaining patient outcomes at rankings above the national averages. This success is a leading factor in Steward’s desire to expand its partnership with FCHS. As such, Steward has entered into a Stock Purchase Agreement with FCHS, February 6th, 2018, whereby Steward will make an investment into FCHS of $7.5mm to purchase 5mm shares of FCHS stock. The transaction is expected to close on or before March 1, 2018. This investment will allow FCHS to continue expanding its business model and geographic footprint nationally. Additionally, upon closing of the investment, Steward plans to designate two of the five individuals who shall serve on the post-closing Board of Directors of FCHS.

Management commented:

“We are pleased to officially enter into a strategic partnership with FCHS after building a successful working relationship. We look forward to assisting the company with their expansion plans as they implement their platform into our network,” said Dr. Michael Callum, Executive Vice President of the Physician Services Group of Steward Health Care System. “As a result of our partnership, we anticipate outcomes to improve, while simultaneously reducing healthcare costs across our network.”

First Choice joined the Executive Casts platform on GeoInvesting in 2017. In the latest update posted on January 8, 2018, CEO Chris Romandetti commented on his goals for 2018 and beyond. You can see the segments of that interview here.

Digging into this development to see what it means for revenues.