Medical Facilities Corp. grows surgical case volume 14.2% in Q1 — 5 insights

Toronto-based Medical Facilities Corp. increased its revenue to $99.1 million despite drastically decreased operations-derived income.

What you should know:

1. The company's revenue increased 1.5 percent year over year to $99.1 million

2. Medical Facilities' surgical case load increased 14.2 percent from the previous year.

3. Income from operations decreased 27.8 percent to $10.2 million.

4. Quarterly EBITDA was $19.3 million, down from $20.1 million in the same period of 2018.

5. Payout ratio was 166.3 percent for the quarter, compared to 92.2 percent in the first quarter of 2018.

MFC CEO and President Robert Horrar said: "This past quarter, the changes in our payor and case mix resulted in lower revenue growth and impacted our operating results. That being said, our strategy has not changed. We remain focused on capitalizing on opportunities to diversify our assets through strategic acquisitions and development of physician-aligned ambulatory surgical centers and surgical hospitals, as well as driving same-facility growth."

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