SOURCE: First Choice Healthcare Solutions, Inc.

First Choice Healthcare Solutions, Inc.

March 25, 2015 10:41 ET

First Choice Healthcare Solutions Exercises Right to Extend First Periodic Redemption Payment to Hillair Capital

MELBOURNE, FL--(Marketwired - Mar 25, 2015) -  First Choice Healthcare Solutions, Inc. (OTCQB: FCHS) ("FCHS" or "First Choice"), a diversified holding company focused on delivering clinically superior, patient-centric, multi-specialty care through state-of-the-art medical centers of excellence, today announced that it has elected to exercise its right to extend the first periodic redemption payment ("Periodic Redemption") to Hillair Capital Investments, LLC ("Hillair") from April 1, 2015 to May 1, 2015.

In a Form 8-K filed with the U.S. Securities and Exchange Commission on February 5, 2015, First Choice reported that the Company and Hillair entered into an Extension Agreement amending the 8% Original Issue Discount Secured Convertible Debenture due November 1, 2015, in order to extend the Periodic Redemption, in the principal amount of $580,000, due February 1, 2015 to April 1, 2015. In consideration of remitting $20,000 and providing written notice to Hillair, the Company was granted the right to extend the Periodic Redemption an additional 30 days. For more details relating to the Extension Agreement, please refer to the Form 8-K to be available for viewing on www.sec.gov this afternoon.

"This extension is expected to provide First Choice with the necessary flexibility to continue executing key growth strategies that we have undertaken to enhance our business-building platform and support future expansion initiatives. Hillair has proven to be a tremendous financial partner to our Company and we continue to be very appreciative of their ongoing support through this exciting evolutionary phase of our business," stated Christian Romandetti, Chairman, President and CEO of First Choice.

About First Choice Healthcare Solutions, Inc.

Headquartered in Melbourne, Florida, First Choice Healthcare Solutions (FCHS) is actively engaged in developing a network of multi-specialty medical centers of excellence throughout the southeastern U.S., which are distinguished as premier destinations for clinically superior, patient-centric care. Through its wholly owned subsidiary FCID Medical, Inc., the Company currently operates one Medical Center of Excellence, First Choice Medical Group of Brevard, which specializes in the delivery of musculoskeletal medicine and rehabilitative care. FCHS' commercial real estate interests, which house its medical centers of excellence, are managed by its wholly owned subsidiary, FCID Holdings, Inc. For more information, please visit www.myfchs.com or www.myfcmg.com

Safe Harbor Statement

Certain information set forth in this news announcement may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of First Choice Healthcare Solutions, Inc. Such forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management beliefs and certain assumptions made by its management. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Information concerning factors that could cause the Company's actual results to differ materially from those contained in these forward-looking statements can be found in the Company's periodic reports on Form 10-K and Form 10-Q, and in its Current Reports on Form 8-K, filed with the Securities and Exchange Commission. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise to reflect future events or circumstances or reflect the occurrence of unanticipated events.

Contact Information

  • For additional information, please contact:
    First Choice Healthcare Solutions, Inc.
    Julie Hardesty
    800-941-0090, Extension 288