On the same day Foundation HealthCare announced a reverse stock split, the company also lauded two facilities for exceptional performance in the fourth quarter.
Foundation HealthCare's majority-owned Foundation Surgical Hospital of El Paso is expecting fourth quarter EBITDA to exceed EBITDA reported for the third quarter as a result of increased surgeries and additional ancillary income.
Foundation Surgical Hospital of San Antonio — in which the company also holds majority ownership — was successful in increasing surgical volumes. The hospital also added new physician partners, and as a result, is planning to expand its facility. The expanded facility is expected to generate 720 to 1,200 surgical cases annually.
"Foundation ended 2014 on a very positive note with the continued financial improvement in our hospital in El Paso," said Foundation HealthCare CEO Stanton Nelson. "In addition, the announcement of the future expansion at our hospital in San Antonio allows us to accommodate the demand from our current and new physician partners while remaining focused on providing high-quality clinical care for the patients we serve."