SOURCE: Northstar Healthcare Inc.

Northstar Healthcare Inc.

October 07, 2013 18:07 ET

Northstar Healthcare Inc. Announces Highest Quarterly Revenues Since Q4 2008

HOUSTON, TX--(Marketwired - Oct 7, 2013) - Northstar Healthcare Inc. (TSX: NHC) today announced preliminary revenue results for the quarter ended September 30, 2013 of approximately $7 million.

"I am proud to say that these revenues are the strongest we have seen at Northstar in almost five years," said Donald Kramer, chairman and CEO. "Our third quarter performance reaffirms our confidence that Northstar's direct to consumer marketing campaigns and physician contracting program will be successful revenue generation models in the outpatient surgical center industry. Although we do not have final third quarter numbers to report, we expect Northstar's growth to continue and for revenues to be significantly higher in the fourth quarter. The company has just invested heavily in the development of a direct-to-consumer spine campaign as a follow on to the ongoing successful podiatry campaign that has contributed significantly to our third quarter results. In addition, we are currently developing and will soon be launching a Dallas bariatric marketing campaign," said Dr. Kramer.

"Due to Northstar's recent business development activity, we will be issuing monthly financial updates through January 2014 in an effort to be highly transparent to our shareholders," stated Harry Fleming, Northstar's Chief Financial Officer.

Third Quarter Earnings Release

Northstar will be releasing its third quarter financial results on November 13th, 2013.

About Northstar Healthcare Inc.

Northstar partners with physicians in the ownership and management of ambulatory facilities and healthcare services. Northstar owns and manages interests in three ambulatory surgery centers, two in Houston and the third in Dallas.

Forward-looking statements

This news release may contain forward-looking statements (within the meaning of applicable securities laws) relating to business of Northstar Healthcare Inc. (the "Company") and the environment in which it operates. Forward-looking statements are identified by words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" and other similar expressions. These statements are based on the Company's expectations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. These risks and uncertainties are discussed in the Company's regulatory filings available on the Company's web site at www.Northstar-Healthcare.com or at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. The Company undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances.

Contact Information

  • For more information, contact:
    Matthew Maruca
    Tel: (713) 840-5180
    E-mail: Email Contact