TORONTO, May 9, 2022
/CNW/ - Medical Facilities Corporation (TSX: DR) ("Medical
Facilities" or the "Corporation") today announced changes to the
Board of Directors (the "Board") of the Corporation, including the
appointments of Michael Gisser and
Jason Redman as independent
directors, effective immediately. Mr. Gisser and Mr. Redman will
stand for election at the Corporation's upcoming annual meeting of
shareholders (the "Meeting"), which will be held on June 21, 2022. Bios for both Mr. Gisser and Mr.
Redman are included later in this release.
The appointments follow a recruitment process the Board
initiated after learning that Jeffrey
Lozon and Dale Lawr had
decided not to stand for re-election as directors at the Meeting.
Mr. Lozon will retire from the Board following the Meeting and Ms.
Lawr will retire as of May 13,
2022.
Mr. Lozon joined the Board as an independent director in 2015
and was appointed Chair in 2019. Mr. Lozon is currently a member of
the Audit Committee, Corporate Governance, Nominating and
Compensation ("CGNC") Committee, and the Investment Committee.
Following the Meeting, Mr. Stephen
Dineley will be appointed as the new Chair of the Board. Mr.
Dineley has been an independent director since 2016 and is
currently the Chair of the Audit Committee and a member of the
Investment Committee.
Ms. Lawr has been an independent member of the Board since 2014
and has served on both the Audit Committee and the CGNC Committee,
the latter of which she co-chaired from May
2016 to May 2019 and chaired
from May 2019 to May 2021.
"We are pleased to welcome Michael and Jason to the Board.
Together, they bring decades of varied experience spanning
corporate governance, operations, finance and accounting, and
legal, adding to our Board's depth and diversity of expertise,"
Robert O. Horrar, President and CEO
of Medical Facilities commented. "On behalf of Medical Facilities
and its Board, I would like to thank both Jeff Lozon and Dale
Lawr for their dedicated service and significant
contributions to the Corporation. I am fortunate to have had the
opportunity to work with Jeff and Dale over the past five years and
have benefited from their advice and direction. We wish them all
the best in their future endeavours."
Jeffrey Lozon, Chair of the
Board, commented: "It has been an honour to serve on the Board of
Medical Facilities these past seven years. With both Dale and I
deciding to step down for various personal reasons, the Board was
able to take advantage of natural turnover, helping to facilitate
fresh and diverse perspectives and ideas. The addition of Michael
and Jason ensure that the Board composition continues to exhibit a
balance of tenure, skills, experiences, and backgrounds. Medical
Facilities has a solid business plan and an even brighter future. I
look forward to following the Corporation's progress."
New Independent Director
Bios
Mr. Gisser is an experienced executive, board member and
advisor. He currently serves as Chairman of the Compensation
Committee and a member of the Audit Committee at Continental
General Insurance (a regulated underwriter of long-term care
insurance), a Senior Advisor at Atomico (Europe's largest venture capital firm),
Advisor at Cognitive Leap (a digital medicine company) and teaches
international corporate law classes at Stanford Law School and
NYU Law School. As a lawyer, Mr. Gisser
led the development of the Asia
Pacific region for Skadden over twenty years as the firm's
senior M&A partner in Greater
China. Mr. Gisser spearheaded legal representations in
M&A deals involving billion dollar-plus transactions on four
continents. He is a leader in global change of control transactions
and fundraising, as well as an advisor on financial and governance
matters.
Mr. Redman brings over 20 years experience in operations and
financial management as well as a proven ability to execute growth
strategies and complete complex M&A transactions across
numerous sectors. He is an experienced C-suite executive who has
served as Chief Financial Officer at Newstrike Brands Ltd; Chief
Financial Officer at SiriusXM Canada and President at Armtec
Infrastructure Inc. Mr. Redman holds a Master of Accounting
from the University of Waterloo in
addition to an MBA from the Kellogg School of Management at
Northwestern University. He is a
Canadian Chartered Accountant, Chartered Professional Accountant,
and a U.S. Certified Public Accountant-Delaware.
About Medical Facilities
Corporation
Medical Facilities, in partnership with physicians, owns a
diverse portfolio of highly rated, high-quality surgical facilities
in the United States. MFC's
ownership includes controlling interest in four specialty surgical
hospitals located in Arkansas,
Oklahoma, and South Dakota, and an ambulatory surgery center
("ASC") located in California. In
addition, through a partnership with NueHealth LLC, Medical
Facilities owns a controlling interest in five ambulatory surgery
centers located in Michigan,
Missouri, Nebraska, Ohio, and Pennsylvania. MFC also owns non-controlling
interests in a specialty surgical hospital in Indiana and an ASC in Missouri. 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
ASCs specialize in outpatient surgical procedures, with patient
stays of less than 24 hours. For more information, please visit
www.medicalfacilitiescorp.ca.
SOURCE Medical Facilities Corporation