SOURCE: First Choice Healthcare Solutions, Inc.

First Choice Healthcare Solutions, Inc.

November 22, 2016 08:30 ET

First Choice Healthcare Solutions Issues Formal Financial Guidance for 2017 Full Year Revenues and Adjusted EBITDA Margin

MELBOURNE, FL--(Marketwired - Nov 22, 2016) - First Choice Healthcare Solutions, Inc. (OTCQB: FCHS) ("FCHS," "First Choice" or the "Company"), one of the nation's only non-physician-owned, publicly traded healthcare services companies focused on the delivery of total musculoskeletal solutions with an emphasis on Orthopaedics, including spine care and treatment, today issued formal financial guidance of $40-$45 million for 2017 full year revenues and 15%-20% for 2017 full year adjusted EBITDA margin.

Company President and CEO Chris Romandetti, noted, "As discussed on our recent third quarter results conference call, we are very confident in First Choice's ability to perpetuate our success with executing key organic and strategic initiatives designed to fuel our revenue and earnings growth through 2017. More specifically, organic growth will stem from the following:

  • the addition of new surgeons and physician assistants who have signed to join our clinical teams between now and the first quarter of next year;
  • increasing the number of Orthopaedic and Spine surgical procedures we perform each year due to the aforementioned expansion of our medical team -- in 2016, we saw this number grow from an annualized run-rate of approximately 2400+ in Q116 to 3100+ in Q316, and expect to increase it to 5,000 in 2017;
  • expansion of our Physical and Occupational Therapy division throughout the greater Space Coast, Florida service region; and
  • materially increasing utilization of our ambulatory surgery center facilities and services.

"First Choice's strategic growth will be propelled by possible acquisition of other healthcare service businesses that will either enhance or expand our current ancillary service lines and through the launch of our Orthopaedic bundled payment pilot programs early in the new year," Romandetti added. "Given our confidence in successfully executing these, among other initiatives, we have no reservations about issuing formal revenue guidance of $40-$45 million for next year and adjusted EBITDA guidance of 15-20%. However, as we move through the new year, we will reevaluate our guidance quarterly and revise or reiterate our expectations, as appropriate."

For those unable to participate on First Choice's live third quarter results conference call, an audio replay of the event is available on the Company's website investor relations page, found at http://ir.myfchs.com/

About First Choice Healthcare Solutions, Inc.
Headquartered in Melbourne, Florida, First Choice Healthcare Solutions (FCHS) is implementing a defined growth strategy aimed at expanding its network of non-physician-owned medical centers of excellence, which concentrate on treating patients in the following specialties: Orthopaedics, Spine Surgery, Neurology, Interventional Pain Management and related diagnostic and ancillary services in key expansion markets throughout the Southeastern U.S. Serving Florida's Space Coast, the Company's flagship integrated platform currently administers over 100,000 patient visits each year and is comprised of First Choice Medical Group, The B.A.C.K. Center and Crane Creek Surgery Center. For more information, please visit www.myfchs.com, www.myfcmg.com, www.thebackcenter.net and www.cranecreeksurgerycenter.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.

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