SOURCE: First Choice Healthcare Solutions, Inc.

First Choice Healthcare Solutions, Inc.

November 11, 2013 08:30 ET

First Choice Healthcare Solutions Issues Formal Corporate Update

CEO Chris Romandetti Provides Insight and Perspective on Recent Developments, Key Growth Strategies and Milestones in View

MELBOURNE, FL--(Marketwired - Nov 11, 2013) - Chris Romandetti, Chairman, President and CEO of First Choice Healthcare Solutions, Inc. (OTCQB: FCHS) ("FCHS"), a diversified holding company focused on delivering clinically superior, patient-centric, multi-specialty care through state-of-the-art medical centers of excellence, today commented on recent developments, key growth strategies and anticipated milestones expected to be achieved by the Company in the very near term. Romandetti stated:

"There is no question that the business of healthcare is undergoing unprecedented change and transformation -- and First Choice sits right at the very heart of it. As we come into the home stretch of 2013 and I reflect on the many challenges we've encountered and the successes we've enjoyed since the year first began, I feel very privileged to be at the helm of a company that is thoughtfully implementing care delivery strategies designed to achieve optimal outcomes for the patients and families we serve. After all, we view providing 'clinically superior, patient-centric care' as not just a lofty goal to pursue, but as our promise each and every day.

"With this promise underpinning the ongoing development and daily operations of our flagship medical center of excellence in Melbourne, Florida, we continue to experience a steady increase in monthly new patient visits at First Choice Medical Group ("FCMG"), which is, in turn, continuing to fuel momentum in our quarterly revenue growth. In fact, we expect to report our fourth consecutive quarter of revenue growth later this week when we file our 10-Q with the U.S. Securities & Exchange Commission. Our positive performance continues to demonstrate that our approach to delivering well-coordinated, multi-specialty care with a high human touch is indeed validating our 'Medical Center of Excellence Model' and is positioning us well to launch our next planned phase of business development.

"In order to materially accelerate FCMG's growth, meet and exceed our revenue goal of $12+ million in 2014, and begin replicating our 'Medical Center of Excellence Model' in other geographic markets currently being evaluated, our team is squarely focused on executing a series of exciting expansion initiatives. These initiatives include the following, some of which may be subject to securing additional growth capital:

  • The build-out of our new, state-of-the-art, out-patient orthopedic rehabilitative center located in FCMG's medical offices. The build-out is currently underway and expected to be completed and fully operational in Q1 2014. This new center will provide a comprehensive range of physical and occupational therapies tailored to each patient with a goal of restoring maximum possible function and independence -- whether it is restoring full mobility after a knee replacement or taking the first step after a major orthopedic trauma.

  • Because FCHS' leadership view ourselves as guardians of our ideals relating to optimal patient experience of care, we have been carefully evaluating several top rated care specialists as possible candidates for employment by FCMG to enhance and complement our existing interdisciplinary team of physicians. To that end, we have recently welcomed three new highly accomplished orthopaedic surgeons to the FCMG team and look forward to hiring up to two additional qualified surgeons within the next several months.

  • Our operations team has also been carefully evaluating areas of our infrastructure that will benefit from our investment in advanced technology, administrative systems and human resources that will empower us to support and accelerate our growth over the next several years. More specifically, we have been conducting extensive due diligence on products, services and strategies that we believe can be efficiently scaled and leveraged to support multiple centers of medical excellence, remove unnecessary redundancies in our systems and ultimately address three common underpinning objectives -- those being, enhancing patient care, improving productivity and promoting profitable growth. We recognize that the decisions we make today in these regards will have long range impact on our future performance, so we are spending considerable time and manpower to educate ourselves on the many innovative solutions available to us.

  • In addition, it is our hope to be in position to pursue a listing on either the NYSE MKT or NASDAQ in the coming year. To that end, we have engaged Hanover|Elite as the Company's investor and public relations counsel of record. In collaboration with our management team, Hanover|Elite is charged with developing, implementing and supporting a fully integrated corporate and shareholder communications platform; and generating meaningful awareness among and measurable support from the retail and institutional investment banking community for FCHS and our compelling business plan and promising future growth potential. Jim Hock, Co-Managing Partner of Hanover|Elite and Co-Chairman of the National Investment Banking Association, will lead the IR/PR effort and provide strategic counsel to us.

"The accomplishments of the past 10+ months are evidence of our persistent adherence to a long term strategy focused on transforming, via acquisition and restructuring, multi-specialty clinics or physician-owned practices in select U.S. markets into world class, state-of-the-art medical centers of excellence; thereby establishing First Choice Healthcare Solutions' brand and reputation as a profitable, well-managed enterprise committed to improving the quality of lives of the caregivers it employs and the health and wellness of the patients and families we serve. By building on our successes, effectively addressing any perceived weaknesses, and implementing new business development strategies with forethought and purpose, we are confident in our ability to accelerate FCHS' growth and win enduring leadership in the Healthcare Services industry.

"In closing, I'd like to use this opportunity to express my sincere appreciation to all of our Company's employees, collaborators and advisors for their commitment to excellence and their unyielding devotion to our mission. I'd also like to thank all of my fellow shareholders -- both longstanding and new -- for your belief in us and for your continued support and confidence. With the end of 2013 fast approaching, we are already looking forward to 2014 with great expectations and believe it will indeed prove to be a defining year for us," concluded Romandetti.

About First Choice Healthcare Solutions, Inc.

Headquartered in Melbourne, Florida, First Choice Healthcare Solutions (FCHS) is actively engaged in owning and operating 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 operates its flagship center, First Choice Medical Group, 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 our industry, management beliefs and certain assumptions made by our 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, we undertake 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:
    HANOVER|ELITE
    Kathy Addison
    Chief Operating Officer
    Phone: 407-585-1080
    Email: FCHS@hanoverelite.com