SOURCE: Montecito Corporation

April 22, 2008 10:10 ET

Montecito Medical Launches New Venture Capital Division

Montecito Medical Ventures Will Develop Financial Partnerships With Health Care Providers in Strategic Markets

SANTA BARBARA, CA--(Marketwire - April 22, 2008) - Montecito Medical Investment Company (MMIC), a premier owner of medical properties throughout the United States, announced today it is launching a new division focused on providing venture capital and partnership opportunities to physician groups in key markets across the country. Montecito Medical Ventures (MMV) will target its resources in markets where it has determined there is a need for expanded medical services, and where it has identified strong partners in the local health-care provider community.

"Our principal goal at Montecito Medical Ventures will be to create productive partnerships with health care providers who are developing innovative ways to provide state-of-the-art medical services to their patients," said Chip Conk. "We are focusing on markets that our research division, Montecito Market Research & Analytics (MMRA), has identified as in need of high quality facility development and additional medical service lines in the medical facilities that fit the population's unique characteristics and demands."

Prior to initiating new financial partnerships, MMV coordinates with the research division to conduct extensive analysis. The analysis is done to methodically determine the markets around the country that will benefit from an infusion of venture capital into the respective health care sectors. MMV then finds the premier medical operators and physician relationships in those markets, focusing on providers that have demonstrated an approach to health care that is both technologically innovative and cost effective. Capital investments target enhancements in medical operations and development opportunities that compliment MMIC's real estate acquisition and portfolio holdings.

In addition to investing with health care providers, MMV seeks out opportunities in the medical technology field in order to link its provider partners with companies that can meet their most critical technology needs. MMV provides capital for the development and operation of new and existing facilities while leveraging the expertise of MMIC for a long-term hold of the asset. MMV operates as a freestanding division of MMIC, one of the nation's largest privately held real estate companies specializing in the acquisition of medical facilities. MMIC owns a diverse portfolio of more than 35 properties throughout the U.S.

"Montecito Medical Ventures is in an ideal position because we build on the successes at MMIC," said Michael Burress, managing partner of MMV. "Because of our extensive background in the medical capital and real estate markets, we know how to build partnerships with providers that will be mutually beneficial, and most important, will serve the health care needs of the community. It is a market-driven approach that we are confident will provide dividends to everyone involved: investors, health care providers and patients."

Montecito Medical Ventures

Montecito Medical Ventures (MMV) specializes in identifying, analyzing and funding development and operating partnership opportunities with medical facility operators and physician groups in key markets across the country, seeking to increase their respective financial opportunities and provide quality, state-of-the-art services to patients in need. Based in Dallas, MMV has plans to continue to expand its presence in attractive medical markets that exhibit and are characterized by strong growth opportunities.

Montecito Medical Investment Company

Montecito Medical Investment Company (MMIC) is one of the nation's largest privately held real estate companies specializing in the acquisition and development of hospitals, medical office buildings, surgery centers, long-term acute care facilities and skilled nursing facilities. The firm, headquartered in Santa Barbara, California, partners with medical real estate owners, enabling them to monetize their equity and improve their facilities, technology, and patient care. MMIC owns more than 35 properties in 12 states, representing more than 1.5 million square feet and in excess of $500 million in valuation. For more information, please visit www.MontecitoMedical.com.

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