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Medical Facilities ( (TSE:DR) ) has provided an announcement.
Medical Facilities Corporation announced a substantial issuer bid to purchase and cancel up to $80,750,000 of its common shares. This decision follows the sale of Black Hills Surgical Hospital, with proceeds being used for the offer, reflecting the Board’s view that this move aligns with the company’s strategy to return capital to shareholders. The offer, structured as a modified Dutch auction, allows shareholders to tender shares within a specified price range or at a determined purchase price, ensuring the company retains sufficient resources for ongoing operations.
More about Medical Facilities
Medical Facilities Corporation is a company in the healthcare industry that focuses on owning and operating specialty surgical hospitals and ambulatory surgery centers. It aims to provide high-quality surgical services and is listed on the Toronto Stock Exchange.
YTD Price Performance: 0.93%
Average Trading Volume: 6,592
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $247.8M
For a thorough assessment of DR stock, go to TipRanks’ Stock Analysis page.
