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Medical Facilities Corp. Q1-2018 and Price Trend Update

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Medical Facilities Corp. owns controlling interests in, and derives substantially all of its income from, 13 medical facilities. The 13 facilities are comprised of five Speciality Surgery Hospitals(SSH)s located in Arkansas, Indiana, Oklahoma, and South Dakota, and eight Ambulatory Service Centres(ASC) located in Arkansas, California, Michigan, Nebraska, Ohio, Oregon and Pennsylvania. In Jan-2018, Medical Facilities acquired 94.25% for $43.9M of a newly formed partnership between and Nueterra MF Holdings, LLC and Medical Facilities.

ASCs are specialized surgical centers that only provide outpatient procedures, whereas SSHs are licensed for both inpatient and outpatient surgeries. The SSHs and ASCs provide facilities, including staffing, surgical materials and supplies, and other support necessary for scheduled surgical, pain management, imaging, and diagnostic procedures and derive their revenue primarily from the fees charged for the use of these facilities. The facilities mainly focus on a limited number of clinical specialties such as orthopaedics, neurosurgery, pain management and other non-emergency elective procedures. In addition, three of the SSHs provide urgent care services and two of the SSHs provide primary care services to their communities. Medical Facilities holds a 51% controlling interest in Integrated Medical Delivery,L.L.C. (IMD), a diversified healthcare service company located in Oklahoma City, that provides third-party business solutions to healthcare entities such as physician practices, facilities, and insurance companies. Medical Facilities owns between 50% to 60% of five facilities with minority interests owned primarily by physicians practicing at the Centers.

Medical Facilities has a 92% interest in RRI Mishawaka Hospital, LP, which owns the real estate assets underlying Unity Medical and Surgical Hospital (UMASH). Medical Facilities generally records higher revenue in the fourth quarter as many patients tend to seek medical procedures at the end of the year, primarily as a result of their inability to carry over unused insurance benefits into the following calendar year.

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