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FCHS chart is coiling. If we break this congestion in the $1.30s it is going much higher. Was at $1.75 this time a year ago, and that was before they acquired the ancillary services business. Should have a favorable impact on earnings moving forward.
Yes, it has been doing much better
Like the chart look here. Took advantage of loading zone .90s-1.00s. Hurricane Irma impacted results, but I like the acquisition.
yep its finally has turned up
FCHS chart reversal; first target 1.35
First Choice Healthcare Solutions Announces Execution of Letter of Intent for Acquisition of Ancillary Services Business and Release of Third Quarter 2017 Results
MELBOURNE, FL--(Marketwired - Nov 9, 2017) - 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 and spine care, announced it has signed a non-binding letter of intent for the acquisition of a multi-site ancillary services business to expand its market presence and also has released its financial results for the three months and nine months ended September 30, 2017.
Chris Romandetti, President and CEO of First Choice, stated, "We are pleased to have signed our letter of intent to acquire a complementary business, which if completed, will expand our footprint within our industry, and will also generate incremental revenue and offer additional revenue streams. We anticipate closing the transaction during the first quarter of 2018."
Letter of Intent for Ancillary Services Business
Offers an expanded market presence through multiple locations
Additional revenue streams from ancillary modalities not currently offered by FCHS
Ability to manage broader base of patient pre-and post-operative ancillary services
Anticipated incremental revenue of $7 to $9 million
Transaction is subject to due diligence and negotiation of definitive agreements (no assurance can be given that FCHS will consummate the transaction)
Third Quarter Highlights:
The Company's results of operations were negatively impacted by Hurricane Irma. Most of the Company's revenues are generated from elective procedures. Therefore, anticipation of the hurricane and its subsequent impact, the Company experienced a significant number of postponed or canceled surgeries. The Company estimates results were negatively impacted by up to $1.2 million.
Total revenues increased 0.2% in the third quarter of 2017 to $7,688,493 from $7,669,743 in the same period of 2016.
2017 third quarter net patient service revenue rose 0.6% to $7,127,045 from $7,083,765 in the same period of 2016.
Net loss attributable to First Choice for the third quarter totaled $440,398 or $0.02 loss per share, compared to a net income of $544,940, or $0.02 earnings per share for the third quarter of 2016.
Non-GAAP adjusted EBITDA*, after deducting certain non-cash and one-time cash gains and expenses, totaled $417,106 in the third quarter of 2017, compared to $1,438,798 for the same period in 2016.
During the third quarter of 2017 the Company repurchased 96,303 shares of common stock under the share buyback program and has continued purchasing shares. The total shares purchased through November 6, 2017 is 155,089 shares.
Mr. Romandetti concluded, "While the impact of Irma on our operations was greater than we initially forecast, our disaster preparedness plan has already allowed us to return to normal operations." Mr. Romandetti further stated, "We continue to remain excited about our future growth in our core business and the expected growth stemming from our strategic acquisition pipeline."
Details for Conference Call and Webcast
First Choice's management team will host a conference call and webcast for the investment community later today beginning at 10 AM Eastern Time to discuss the results and recent corporate developments. Participants can register and access the conference call by dialing toll-free 1-866-682-6100 (for U.S. and Canada dial-in) or 1-404-267-0373 (for international dial-in). The conference call will also be webcasted and available for replay at https://www.webcaster4.com/Webcast/Page/1527/23447 and via the investor relations section of the Company's website at http://ir.myfchs.com/. For those who cannot listen to the live broadcast, a replay will be available shortly after the call on the investor relations page of First Choice's website, found at http://ir.myfchs.com/.
* Non-GAAP Financial Measures
To supplement our consolidated financial statements, which are prepared and presented in accordance with GAAP, we use non-GAAP EBITDA. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. We use this non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Our management believes that this non-GAAP financial measure provides meaningful supplemental information regarding our performance and liquidity by excluding certain items that may not be indicative of our recurring core business operating results. We believe that both management and investors benefit from referring to this non-GAAP financial measure in assessing our performance and when planning, forecasting, and analyzing future periods. This non-GAAP financial measure also facilitates management's internal comparisons to our historical performance and liquidity. We believe this non-GAAP financial measure is useful to investors both because they allow for greater transparency with respect to a key metric used by management in its financial and operational decision-making. For more information on this non-GAAP financial measure, please see the table captioned "Reconciliation of non-GAAP Adjusted EBITDA Performance".
For additional details relating to First Choice's Third Quarter 2017 results, please refer to the Interim Report on Form 10-Q filed with the U.S. Securities and Exchange Commission and found at www.sec.gov.
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.
FIRST CHOICE HEALTHCARE SOLUTIONS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
September 30, December 31,
2017 2016
(unaudited)
ASSETS
Current assets
Cash (amounts related to VIE of $1,118,749 and $708,858) $ 2,695,482 $ 4,593,638
Cash -restricted (amounts related to VIE of $6,522,191) 6,522,191 -
Accounts receivable, net (amounts related to VIE of $6,131,720 and $6,010,961) 11,119,757 9,536,830
Employee loans (amounts related to VIE of $490,900 and $491,850) 1,129,131 820,341
Prepaid and other current assets (amounts related to VIE of $418,435 and $329,427) 646,184 422,512
Total current assets 22,112,745 15,373,321
Property, plant and equipment, net of accumulated depreciation of $1,640,400 and $1,165,219 (amounts related to VIE of $506,621 and $693,629) 2,353,150 2,544,816
Other assets 3,956,649 4,227,957
Total assets $ 28,422,544 $ 22,146,094
LIABILITIES AND EQUITY
Current liabilities
Accounts payable and accrued expenses (amounts related to VIE of $1,867,340 and $1,366,143) $ 2,499,396 $ 2,083,231
Accounts payable, related party (amount related to VIE of $251,588) 251,588 251,588
AMT tax payable 181,029 181,029
Settlement payable, due to non controlling interest (amount related to VIE of $6,521,655) 6,521,655 -
Line of credit, short term (amount related to VIE of $440,024) 1,540,024 1,539,524
Notes payable, current portion - 519,452
Unearned revenue 44,638 26,936
Deferred rent, short term portion (amount related to VIE of $45,203 and $237,923) 105,171 237,923
Total current liabilities 11,143,501 4,839,683
Long term debt:
Deposits held 41,930 41,930
Notes payable, long term portion 223,101 14,531
Deferred rent, long term portion (amount related to VIE of $2,484,558 and $2,214,909) 2,556,515 2,293,594
Total long term debt 2,821,546 2,350,055
Total liabilities 13,965,047 7,189,738
Equity
Preferred stock, $0.01 par value; 1,000,000 shares authorized, Nil issued and outstanding - -
Common stock, $0.001 par value; 100,000,000 shares authorized, 26,828,538 and 24,631,327 shares issued; 26,699,847 and 24,631,327 shares outstanding as of September 30, 2017 and December 31, 2016, respectively 26,829 24,631
Additional paid in capital 24,492,194 24,020,610
Treasury stock, 128,691 and 0 common shares, at cost, respectively (187,121 ) -
Accumulated deficit (10,469,988 ) (10,100,534 )
Total stockholders' equity attributable to First Choice Healthcare Solutions, Inc. 13,861,914 13,944,707
Non-controlling interest (note 10) 595,583 1,011,649
Total equity 14,457,497 14,956,356
Total liabilities and equity $ 28,422,544 $ 22,146,094
FIRST CHOICE HEALTHCARE SOLUTIONS, INC
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
For the three months ended September 30, For the nine months ended September 30,
2017 2016 2017 2016
Revenues:
Patient Service Revenue $ 7,333,547 $ 7,403,084 $ 22,610,804 $ 21,571,205
Allowance for bad debts (206,502 ) (319,319 ) (710,852 ) (849,037 )
Net patient service revenue less provision for bad debts 7,127,045 7,083,765 21,899,952 20,722,168
Rental Revenue 561,448 585,978 1,723,585 1,842,428
Total Revenue 7,688,493 7,669,743 23,623,537 22,564,596
Operating expenses:
Salaries and benefits 3,609,494 3,158,172 10,555,321 9,077,783
Other operating expenses 1,855,642 2,255,334 7,016,648 6,729,219
General and administrative 2,592,989 1,555,151 6,147,641 4,783,534
Depreciation and amortization 361,680 195,821 744,592 631,571
Total operating expenses 8,419,805 7,164,478 24,464,202 21,222,107
Net (loss) income from operations (731,312 ) 505,265 (840,665 ) 1,342,489
Other income (expense):
Gain on sale of property and improvements - - - 9,212,346
Miscellaneous income (expense) 41,153 135,544 144,951 241,213
Amortization financing costs - - - (15,654 )
Interest expense, net (27,625 ) (56,560 ) (89,806 ) (288,748 )
Total other income 13,528 78,984 55,145 9,149,157
Net (loss) income before provision for income taxes (717,784 ) 584,249 (785,520 ) 10,491,646
Income taxes (benefit) - - - -
Net (loss) income (717,784 ) 584,249 (785,520 ) 10,491,646
Non-controlling interest (note 10) 277,386 (39,309 ) 416,066 (226,628 )
NET (LOSS) INCOME ATTRIBUTABLE TO FIRST CHOICE HEALTHCARE SOLUTIONS, INC. $ (440,398 ) $ 544,940 $ (369,454 ) $ 10,265,018
Net (loss) income per common share, basic $ (0.02 ) $ 0.02 $ (0.01 ) $ 0.43
Net (loss) income per common share, diluted $ (0.02 ) $ 0.02 $ (0.01 ) $ 0.38
Weighted average number of common shares outstanding, basic 26,765,021 24,238,613 26,622,335 23,664,723
Weighted average number of common shares outstanding, diluted 26,765,021 27,751,946 26,622,335 26,998,057
FIRST CHOICE HEALTHCARE SOLUTIONS, INC
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
For the nine months ended September 30,
2017 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) Income $ (785,520 ) $ 10,491,646
Adjustments to reconcile net (loss) income to cash used in operating activities:
Depreciation and amortization 744,592 631,571
Amortization of financing costs - 15,654
Bad debt expense 710,852 849,037
Gain on sale of property - (9,212,346 )
Stock based compensation 473,782 668,591
Changes in operating assets and liabilities:
Accounts receivable (2,293,779 ) (3,702,212 )
Prepaid expenses and other current assets (223,672 ) (129,948 )
Restricted funds - 359,414
Employee loans (308,790 ) (110,716 )
Accounts payable and accrued expenses 416,165 (1,718,516 )
Settlement payable - (600,000 )
Deposits - (25,502 )
Deferred rent 130,169 230,671
Unearned income 17,702 946
Net cash used in operating activities (1,118,499 ) (2,251,710 )
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sale of property - 15,113,497
Purchase of equipment (281,618 ) (239,418 )
Net cash (used in) provided by investing activities (281,618 ) 14,874,079
CASH FLOWS FROM FINANCING ACTIVITIES:
(Repayments) of advances - (43,082 )
Proceeds from settlement, due to non controlling interest 6,521,655 -
Proceeds from notes payable 86,713 -
Proceeds from line of credit 500 372,636
Purchase of treasury stock (187,121 ) -
Net payments on notes payable (397,595 ) (7,955,886 )
Net cash provided by (used in) financing activities 6,024,152 (7,626,332 )
Net increase in cash, cash equivalents and resticted cash 4,624,035 4,996,037
Cash and cash equivalents, beginning of period 4,593,638 1,594,998
Cash, cash equivalents and restricted cash, end of period $ 9,217,673 $ 6,591,035
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for interest $ 90,386 $ 288,748
Cash paid during the period for taxes $ - $ -
Supplemental disclosure of non-cash investing and financing activities:
Common stock issued in settlement of accrued expenses $ - $ 481,900
FIRST CHOICE HEALTHCARE SOLUTIONS, INC.
RECONCILIATION OF NON-GAAP ADJUSTED EBITDA PERFORMANCE
For the three months ended September 30,
2017 2016
Net income (loss) $ (440,398 ) $ 544,940
Interest 27,625 56,560
Taxes - -
Depreciation and Amortization 361,680 195,821
Bad Debt 206,502 319,319
Stock Issuance- non cash transactions 261,697 322,158
Building - -
Adjusted EBITDA $ 417,106 $ 1,438,798
For the nine months ended September 30,
2017 2016
Net income (loss) $ (369,454 ) $ 10,265,018
Building - (9,212,346 )
Interest 89,806 288,748
Taxes - -
Depreciation and Amortization 383,142 647,225
Bad Debt 710,852 849,037
Stock Issuance- non cash transactions 325,021 720,174
Adjusted EBITDA $ 1,139,368 $ 3,557,856
CONTACT INFORMATION
First Choice Healthcare Solutions, Inc.
Julie Hardesty
Phone: 321-725-0090 ext 288
Email: IR@myfchs.com
yes Jock, he Q is what has hurt stock, do not know what it is, maybe Obamacare? but results have dropped.
First Choice Healthcare Solutions to Present at Upcoming Investor Conferences in September
MELBOURNE, Fla., Sept. 18, 2017 (GLOBE NEWSWIRE) -- 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 and Spine care, today announced that Chris Romandetti, CEO of First Choice Healthcare Solutions, will host one-on-one meetings with investors and present at the following investor conferences in September.
Dougherty & Company Institutional Investor Conference
Date: Tuesday, September 19, 2017
Presentation Time: 3:00 p.m. Central time
Location: Millennium Hotel Minneapolis - 1313 Nicollet Mall, Minneapolis, MN, 55403
MicroCap Leadership Summit
Date: Thursday, September 21, 2017
Presentation Time: 12:00 p.m. Central time
Location: Westin Chicago Northwest Hotel - 400 Park Blvd., Itasca, IL, 60143
About the Dougherty & Company Institutional Investor Conference
Founded in 1977, Dougherty & Company is a full-service financial services firm that delivers a wide array of products and solutions to both institutions and individuals nationwide. Headquartered in Minneapolis, they have extensive experience in public finance where Dougherty has originated more than $48 billion in financings as managing/co-managing underwriter, placement agent and financial advisor. Dougherty has particular expertise in the Midwest and been a leader in the municipal fixed income industry since inception. Leveraging its research experience across multiple sectors in small-cap companies, Dougherty created a full-day conference at the Millennium Hotel in Minneapolis that includes hosted one-on-one and small group meetings with the management teams of some of their best ideas. For more information, please visit http://www.doughertymarkets.com.
About MicroCapClub
MicroCapClub is an exclusive forum for experienced microcap investors focused on microcap companies (sub $300m market cap) trading on United States, Canadian, UK, and Australian equity marketplaces. MicroCapClub was created to be a platform for experienced microcap investors to share and discuss stock ideas. Investors can join our community by applying to become a member or subscribing to gain instant view only access. MicroCapClub's mission is to foster the highest quality microcap investor Community, produce Educational content for investors, and promote better Leadership in the microcap arena. For more information, visit http://microcapclub.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.
CONTACT INFORMATION
Investor Relations Contact:
Mike Cole
Vice President
MZ North America
949-259-4988
mike.cole@mzgroup.us
www.mzgroup.us
Primary Logo
Copyright © 2017 GlobeNewswire. All Rights Reserved
FCHS rough quarter. Chart is oversold. I jumped back in for a position trade. Still think this is an intriguing LT play, and would like to hear what the strategy is to get them back on the side of profitability.
Quick Comparison 2GrowthStocks AMZN and FCHS
First growth?
AMZN 2 year Compounded Growth 23.6%
FCHS 2 year Compounded Growth 73.6% Not even close, that is one of the advantages of smaller companies they can grow so much more than big companies, Amazon was once $50 million in sales, now $440 Billion, 880 times more. Can the keep it up? No impossible that would be $39 Trillion is sales, people do not spend that much even if they only bot things from Amazon.
Is it growth by low profits?
Amazon Gross Profit 1.7% yep looks like they are doing it by selling near breakeven.
How about FCHS? Gross Profit 30%, more than 15 TIMES the Gross Profit margin of AMZN.
How about safety, Price/Book? Amazon P/B = 3.24, not too bad for a growth company.
How about FCHS? P/B 1.43, Much Better
(all numbers from Yahoo) https://finance.yahoo.com/quote/FCHS/key-statistics?p=FCHS
Interesting, FCHS (First Choice Health Solutions) has much higher growth, and in future can grow so much faster than AMAZON in fact Zacks has said FCHS has "Unlimited growth potential" and FCHS has much higher profit margins and FCHS has much better book value too.
So one would think the stock is doing better than Amazon. Well it is. Amazon is up 38% in last 2 years and FCHS is up 84% in the same time.
Sometimes the market is rational.
Comparison Chart FCHS/AMZN
https://finance.yahoo.com/chart/AMZN#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%3D%3D
smart move Jason on buy. I was totally impressed with the report.
Added some shares here today.
Yes,fantastic Report,50% Sales Growth+ProfitsEvenBetterGrowth,Now 4P/E stock!
A stock that grew sales 50% last year and projects it will grow another 50% next year AND is just 4 P/E, wow. And went from loss to high profitability, another wow. This is why FCHS is maybe the best growth stock there is.
EBITDA up 90% to boot
Key 2016 Financial Highlights Compared to 2015
Total revenues increased 51% to $29,464,082 from $19,517,664.
Net patient service revenue rose 52% to $27,053,190 from $17,770,697.
Non-GAAP adjusted EBITDA*, after deducting non-cash and one-time cash gains and expenses, increased 90% to $3,348,658 from $1,727,693.
Non-GAAP adjusted EBITDA* as a percentage of net patient service revenues improved to 14% from 10% after deducting non-controlling revenues contributed by Crane Creek Surgery Center of $3,046,034 in 2016 and $674,878 in 2015.
Net income attributable to First Choice totaled $9,174,383, or $0.38 earnings per share, compared to a net loss of $3,421,841, or $0.17 loss per share.
As of December 31, 2016, cash on the balance sheet totaled $4,593,638 and accounts receivable totaled $9,536,830. This compared to cash of $1,594,998, restricted cash of $359,414 and accounts receivable of $6,623,894 as of the end of 2015.
Chris Romandetti, President and CEO of First Choice, stated, "We are pleased with our Company's strong year-over-year results and take pride in the fact that our business model continues to prove that our approach to managing the business of healthcare is delivering results. We were particularly pleased with the improvement in our non-GAAP adjusted EBITDA results, which nearly doubled. When evaluating our overall performance, it is important to note that our net patient service revenues were impacted by the recently announced temporary loss of Dr. Richard Harrison, one of First Choice Medical Group's Board Certified Orthopaedic surgeons and a decorated colonel in the United States Army Reserves Medical Corps, who was deployed this past October through the end of January in Iraq as a key trauma surgeon for a joint U.S. Military and Coalition Task Force fighting the war on terror. Nonetheless, 2016 was a year in which all of our providers distinguished themselves as world class physicians and medical specialists, helping to establish First Choice through our Medical Centers of Excellence in Melbourne, Florida as the largest provider of Orthopaedic and Spine care and treatment on Florida's high growth Space Coast."
Continuing, Romandetti said, "Looking ahead, we are reiterating our 2017 guidance of $40-$45 million in revenues and adjusted EBITDA of 15%-20% of revenues. We have been experiencing continued growth in our ancillary service areas, particularly in our Physical and Occupational Therapy unit, which is on pace to open four new centers serving Brevard and surrounding counties in Florida this year. Moreover, earlier this year, we were delighted to welcome another top-rated Spine surgeon to The B.A.C.K. Center, Dr. James Billys. With additional providers expected to be joining the First Choice family in the coming months and given several other expansion initiatives being actively pursued, the future has never looked brighter for our Company."
Details for Conference Call and Webcast
First Choice's management team will host a conference call and webcast for the investment community later today beginning at 1:30 PM Eastern Time to discuss the results and recent corporate developments. Participants can register and access the conference call by dialing toll-free 866-682-6100 (for U.S. and Canada dial-in) or 862-255-5401 (for international dial-in). The conference call will also be webcasted, which will be accessible through First Choice's investor relations website on Monday morning by navigating to http://ir.myfchs.com/ and clicking on "2016 Year-End Conference Call and Webcast." Participants will be required to register to access the call. For those who cannot listen to the live broadcast, a replay will be available shortly after the call on the investor relations page of First Choice's website, found at http://ir.myfchs.com/.
I hate people that promote worthless stocks, which FCHS is opposite of, but see CHAT promos are generally profitable, whether their stocks are worthwhile or not, do not know.
Thanks for the info.
I check it over wknd
http://www.theotc.today/ the 5th column shows promo, click on and it will show who/what is promoing and u can even see their past plays as to wether they usually are any good at it or not
Thanks 3 wheeler, I see according to that site it has only had 2 promotions ever. I do not think company paid for it and have talked with the CEO for maybe an hour and he struck me as someone that would not pay for such things.
You might want to look at it. JMHO it is the best growth company out there, they are currently bringing in over $100 per every person per year in their region , outside of cable companies and walmart practically no one gets that much rev per person in area.
I came to same conclusions as ZACKS before reading their report.
Thanks for info.
I get em on my phone, so usually dont play any promos, unless Im already in then I know to sell by 10-11 as they crash soon after, didnt say anything on this one except to show it was being promoed as havent look at it at all
three wheeler, I do see it on list, however not aware of any promotion on FCHS, and see no movement on stock today when it supposedly is out. FCHS is a very real company that ZACKS has done 25 page plus report on with highest regard for company. tell us more.
In fact it is down with below average volume, any way to see the promotion if there is one?
Thanks
Here is ZACKS conclusion:
Zacks very high on FCHS
OUTLOOK
Industry Medical Service
First Choice Healthcare Solutions Inc. is a rapidly
growing provider of patient-centric care offered
through "Medical Centers of Excellence" which are
not owned by physicians. Currently concentrating on
Orthopaedic and related care the company is
expanding in what is, for it, an almost unlimited
market. As the company grows we expect higher
pretax margins as corporate overhead remains
relatively constant. Our target price is $2.00 a share.
I think that the annual report is due by the end of March. Might provide a powerful catalyst.
First Choice really on the move here, thanks I was just about to post the same PR. We got another top surgeon.
$FCHS First Choice Healthcare Solutions Welcomes Board Certified Orthopaedic and Spine Surgeon Dr. James Billys to The B.A.C.K. Center
MELBOURNE, FL--(Marketwired - Mar 8, 2017) - 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, is pleased to announce that James B. Billys, M.D. has joined the medical staff at The B.A.C.K. Center ("TBC") where he will specialize in minimally invasive spine surgery.
Dual board certified in Orthopaedic Surgery and Surgery of the Hand by the American Board of Orthopaedic Surgery, and fellowship trained in Spine Surgery at Stanford University and in Hand and Microvascular Reconstructive Surgery at Davies Medical Center in San Francisco, Dr. Billys has served as the Principal Investigator or sub-investigator of numerous groundbreaking clinical studies led by the Foundation for Orthopaedic Research and Education over the past 12 years.
Widely published and a prolific speaker at leading medical and scientific conferences worldwide on a broad range of spinal surgery, care and treatment advancements, Dr. Billys was also an Affiliate Assistant Professor at the University of South Florida Department of Orthopaedic and Sports Medicine and an Assistant Associate Professor at Stanford University. He earned a Bachelor of Science degree from University of Notre Dame and his Doctorate of Medicine from Jefferson Medical College in Philadelphia before completing residencies in Orthopaedic Surgery and Immunology Research at Duke University.
Immediately prior to joining TBC, Dr. Billys practiced medicine for 12 years at Florida Orthopaedic Institute in Tampa, where he specialized in disorders of the spine and hand surgery. He devoted the prior ten years of his career as an Orthopaedic Surgeon at Orthopaedic Associates Medical Clinical, Inc. in Visalia, California. He is a member of the American Medical Association, American Academy of Orthopaedic Surgeons, North American Spine Society, and the American Society of Surgery of the Hand.
Kris Jones, Vice President of Medical Operations at First Choice, stated, "On behalf of everyone at First Choice, The B.A.C.K. Center and First Choice Medical Group, I am very pleased to welcome Dr. Billys to our dynamic, world class clinical team. As a prolific and globally respected physician, surgeon and researcher who shares our devotion to clinical excellence and human compassion, he is sure to have a marked, positive impact on the lives and care of our patients."
https://finance.yahoo.com/news/first-choice-healthcare-solutions-welcomes-140244288.html
Good report, thanks
• Perpetuating Organic Growth of Flagship Platform to Capture Significant Share of $150 Million Market Opportunity on Florida’s High Growth Space Coast
• Orthopaedic/Spine Surgeries
• Physical/Occupational Therapy
• Imaging Services
• Ambulatory Surgery Center
• DME/Home Health/Pharmacy
• Bundled Payment Contracts with Government Payers, Insurance Carriers & Major Employers
• Replicate Platform in Targeted Geographic Markets
• Accelerate Revenue Growth and Continue to Increase Adj. EBITDA Margin
• Profitable through Q316
• Strong Cash Position – Financing Flexibility
$FCHS over 30K VOLUME traded today! Up nicely! Great News Out! http://www.thesultansofswingtrading.com/2017/03/first-choice-healthcare-solutions-otcqb.html #Trumpcare #TrumpCARELESS
First Choice Appoints Dr. Steve Ryland to Lead Major Expansion of Physical/Occupational Therapy Division First Choice PT/OT Centers on Florida's Space Coast to Increase from One to Five in 2017 to Meet Robust Demand from Its Growing Orthopaedic and Spine Medical Practices
MARKET WIRE 7:17 AM ET 2/28/2017
This is big news, today the market is reacting finally, up 6%
Symbol Last Price Change
FCHS 1.59up +0.09 (+6%)
QUOTES AS OF 09:42:12 AM ET 03/07/2017
MELBOURNE, FL -- (Marketwired) -- 02/28/17 -- First Choice Healthcare Solutions, Inc.(FCHS) , 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 and Spine care, today announced that Steve Ryland, PT, DPT has been appointed to serve as the Company's Director of Physical/Occupational Therapy ("PT/OT").
In this role, Dr. Ryland will oversee the PT/OT Division and implement key expansion initiatives that will increase the number of First Choice-owned and operated, state-of-the-art PT/OT centers serving Florida's high growth Space Coast service region from one to five centers in 2017 -- with the second and third centers slated to open in March and the fourth and fifth center slated to open shortly thereafter. The new First Choice PT/OT centers will be strategically located throughout the service region, currently spanning 72 miles north to south on Florida's central east coast.
As the volume of both surgical and non-surgical patients served by First Choice's Medical Centers of Excellence in Brevard County have continued to increase through employment of additional world class physicians, so, too, has demand grown for best-in-class physical and occupational therapy services for thousands of First Choice patients. Whether prescribed for rehabilitation after a hip, shoulder or knee replacement or spinal fusion, or prescribed as conservative therapeutic care for a musculoskeletal condition or injury, PT/OT is a vital component of achieving optimal care outcomes for patients; and in many cases, PT may be mandated by a medical insurance payer prior to surgical remedies being pursued.
According to Kris Jones, First Choice's Vice President of Medical Operations, "Our surgical and non-surgical Orthopaedic and Spine patients each require, on average, a PT/OT regimen of 10 treatment sessions with qualified therapists to achieve the best possible outcomes. Considering that the Space Coast service region covers such a broad geographic footprint, to help ensure compliance with prescribed rehabilitative treatment, our physicians and surgeons were having to refer patients to other PT/OT providers. With our planned geographic expansion and leveraging Dr. Ryland's expertise and leadership, not only will First Choice maintain payer compliance with PT/OT mandates, but more importantly, we will be able to provide all of our patients requiring rehabilitation with optimal choice and travel convenience while retaining management and control of their full episodes of care -- from diagnosis to treatment to recovery."
Similar to First Choice's current PT/OT center located in Melbourne, each new PT/OT center will be equipped with the industry's most advanced rehabilitation equipment and staffed by the region's best-in-class physical and occupational therapists and care specialists. Once all First Choice PT/OT centers are operational, they will have total capacity to administer up to 85,000 patient visits each year, generating up to $8 million in annual revenues.
Prior to joining First Choice, Dr. Ryland was the founder of a very successful PT company, which operated five out-patient physical therapy clinics in Brevard County, Florida for over 15 years. After receiving a Bachelor's degree in Economics and International Affairs from Florida State University and a Bachelor's degree in Physical Therapy from the University of Central Florida, he earned his Doctorate in Physical Therapy from Boston University. Specializing in acute care, sub-acute rehabilitation, outpatient Orthopaedics and home health care, he has also provided preventative care and training to elite and professional athletes, including members of the Ladies Professional Golf Association and the Washington Nationals professional baseball organization. Since forming his private PT practice in 2002, Dr. Ryland has consulted several leading PT providers and business owners across the U.S. on building successful PT/OT practices through effective management systems and techniques.
Commenting on this key appointment, Chris Romandetti, Chairman, President and CEO of First Choice, said, "We are very pleased to welcome Dr. Ryland to First Choice and look forward to tapping his industry expertise and experience in building world class care facilities focused on achieving optimal outcomes for patients requiring physical rehabilitation. We believe he is the ideal choice for spearheading this exciting new growth initiative for our Company, and expect that our PT/OT division's future success will be positively and measurably impacted by his proven leadership."
Dr. Ryland added, "First Choice is widely viewed to be one of the most exciting, high growth healthcare companies on the Space Coast, which is succeeding at advancing the quality of care offered to patients who live, work and visit this area. It was clear from the start that everyone at First Choice shares my passion for establishing entirely new standards of excellence in healthcare, so I'm thrilled to be joining their impressive team. Moreover, I consider it a privilege to be taking the lead in helping the Company to manage and grow its physical and occupational therapy group and expect to make fast work of helping them to build this division into a significant contributor to its annual revenue and earnings growth."
In closing, Jones added, "The addition of Dr. Ryland and multiple new PT/OT locations is a true testament to our team's dedication and commitment to best-in-class patient treatment and full continuity of care -- for that I am immensely proud and grateful."
About First Choice Healthcare Solutions, Inc.(FCHS)
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,
VALUATION
The prime measure we use for valuation is a comparison of EV/EBITDA. The current valuation based on
L4Q data is in line with the median for the peer group and the stock price should increase as EBITDA
increases. Using estimated N4Q EBITDA and the current EV the ratio is 3.6, well below its potential
valuation.
It does not format well below, but Zacks shows FCHS's EV/EBITDA as twice as good as next best and about 5 times better than USPH
COMPARISON TABLE Ticker Price Mkt ROE P/E P/E P/B P/S EV/Rev. EV/EBITDA PEG Inst.
1/18/17 Cap (%) L4Q NFY LQ L4Q L4Q Ownership %
(in million)
First Choice Healthcare FCHS $1.48 $36.1 12.75 NM 22.3 2.83 1.42 1.16 5.16 0.7 NA
Solutions, Inc.
Community Health Systems CYH $7.11 $808 4.70 N/A 10.46 0.43 0.04 0.86 8.37 N/M 94.9
Envision Health Holdings EVHC $68.54 $8,050 14.65 107.10 13.81 6.22 2.67 2.00 8.32 1.18 100+
Foundation Healthcare Inc. FDNH $0.31 $6 N/A N/A N/A N/A 0.04 0.69 101.90 N/A 2.1
HealthSouth Inc HLS $41.74 $3,750 31.27 17.14 15.46 5.16 1.05 1.87 8.19 1.25 91.6
HCA Holdings HCA $80.93 $30,320 14.45 14.02 11.37 N/A 0.74 1.47 7.48 0.99 77.3
Kindred Healthcare Inc KND $7.75 $660 6.42 13.02 12.70 0.80 0.09 0.52 6.83 5.30 97.8
Lifepoint Health Inc. LPNT $61.35 $2,460 5.93 20.43 14.85 1.16 0.40 0.82 7.64 2.35 94.9
PRGX Global PRGX $5.95 $130 13.47 42.81 24.79 2.53 0.95 0.87 10.23 7.73 77.6
Select Medical Holdings SEM $14.80 $1,960 10.72 15.74 17.01 2.02 0.47 1.09 10.12 1.92 83.6
Surgery Partners Inc. SGRY $18.05 $875 23.72 82.22 21.24 N/A 0.81 2.05 9.62 0.32 N/A
Universal Health Services Inc. UHS $114.30 $10,990 17.04 16.99 14.16 2.75 1.14 1.51 8.52 1.83 95.6
US Physical Therapy Inc. USPH $70.80 $887 16.14 36.68 33.08 4.96 2.54 2.66 15.47 2.71 94.2
* Assumes zero net debt based on the sale of Marina Tow ers.
(Source: Yahoo Finance & Zacks eEsVtim/EaBteITsD)A for FCHS is based on N$Q estimates
Mean 14.27 36.62 17.60 2.89 0.95 1.35 15.99 2.39
Median 13.96 18.79 15.16 2.64 0.81 1.16 8.37 1.83
Zacks very high on FCHS
OUTLOOK
Industry Medical Service
First Choice Healthcare Solutions Inc. is a rapidly
growing provider of patient-centric care offered
through "Medical Centers of Excellence" which are
not owned by physicians. Currently concentrating on
Orthopaedic and related care the company is
expanding in what is, for it, an almost unlimited
market. As the company grows we expect higher
pretax margins as corporate overhead remains
relatively constant. Our target price is $2.00 a share.
I see it their way, at $100 per person revenue per year today and having stated they can go to $300 per person per year in their 1st market Melbourne FL, just think what their revenue could be in Florida alone.
If they cover just 5,000,000 population area in FL that would be $1.5 Billion in revenue and its a very high cash flow business. That is just one state, they do plan to go to multiple states. With $30 million last year in revenue that would be 50 times or 5,000% growth and the stock would likley go 100 times higher when they reach $1.5 billion. It is the best growth stock know of.
This is why FCHS is my #2 position have.
Fidelity has the full report dated Jan 2017, but it does not seem available for free on Zacks site.
Small snip from report:
KEY POINTS
Allowing Doctors to be Doctors.
Based in Melbourne, Florida, First Choice Healthcare Solutions is focused on building localized
integrated care platforms comprised of non-physician owned medical centers of excellence in
specific regions of the Southeast United States. Future growth is not limited by geography.
Current specialties are Neurology, Orthopaedics, Spine Surgery, Interventional Pain Medicine
and related ancillary and diagnostic services. The company's flagship platform serves Florida's
Space Coast region managing over 100,000 patient visits a year.
The company's strategy is to establish a significant presence in Melbourne, Florida achieving a
base to generate approximately $50 million annual revenue while replicating its Melbourne
model in other localized geographic markets with similar demographics throughout the country.
First Choice Healthcare Solutions aims to establish a national network of
integrated Medical Centers of Excellence serving specific geographic markets.
These Centers focus on Orthopaedic care and treatment and cost between $6.5 million
to $10 million each to assemble. Based on First Choice s business model and various
factors associated with a specific geographic market, each system would consist of 8 to
10 doctors of various disciplines, but mainly Orthopaedic surgeons, and be capable of
generating between $25-$50 million a year in revenue when fully built out with the
addition of ancillary and diagnostic services. Effective May 1, 2015, First Choice signed
an Operating and Control Agreement with The B.A.C.K. Center, which generated total
revenue of $9.8 million for the 8 months, which compared to generating $13 million in
both 2013 and 2014 for the full years. Effective October 1, 2015, the Company, through
its recently formed wholly owned subsidiary, CCSC Holdings, Inc., acquired a 40% interest
in Crane Creek Surgery Center and is entitled to 51% voting rights. The Company paid
$560 thousand for the 40% interest. For the three months ended December 31, 2016,
Crane Creek generated revenue of $1.12 million and operating profit of approximately
$350 thousand in its first full quarter of ownership (Q415).
Attractive career alternative for doctors. Working for First Choice, physicians are freed
from the day to day administrative burdens of managing their own practice and have
greater annual income potential. Moreover, they enjoy an enhanced quality of life and are
able to deliver better patient care through the use of First Choice s state-of-the-art
equipment and through collaborative care coordination with other First Choice providers
and specialists on its team.
1.73 the locomotive continues. This is the advantage of super value stocks, they can run and run and run. This August sold last of my CLGRF after a 27 bagger.
Cheers
I sold a good portion at 1.7. Im hoping that this drop below 1.6 so I can load up again.
Can we make $1.90 on this run? 1.69 now.
Looking at chart its obvious wave 3, JMHO looking like will go into 1.90s fairly soon. Being first week of Trump its making new highs indicates that new adm is not a bad thing for FCHS, and indicates mkt sees it as good thing for surgery stocks.
That is a new 2 year high Close 1.68 also new 2 year high
The breakout is holding,FCHS In ExtraStrongRally
1.63 now and it all makes sense this is possible the best high growth value in the mkt.
Cheers
Another New High, 1.62, if closes that high. Looks like touched 1.68 yesterday.
Its a total winner as an investment.
FCHS is moving very nicely.
Tony The Tiger
Indeed great company, great stock, great rally
It's great!!
4600Bid .55 100Ask @.59 looking good. See no news looked, but FCHS is under accumulation here, maybe a microcap fund is taking a position.
The high 2 days ago was 1.55 see 2 weeks it it was 1.60 and we are now 1.59+.11 so .02 more and we have a 3 year new high
prior high of 1.55 about to fall,only1,000 left 5,600 bid at 1.52. FCHS is acting like it should, a high growth stock with value and with a bull trend in place.
Cheers
It was 1.50 for 2,200 shares, then 800 shares near end, looks like tape painting.
But for a company that has grown 30 TIMES in last 5 years and has almost unlimited upside growth day to day movements are immaterial.
Cheers
Exactly! Been gone all day. Nice to see continued rise today for FCHS.
It worked, 1.47, classic correction and now resumption of rally. its textbook. nice when things work out as planned.
It does look sweet!. Glad I added yesterday.
FCHS!!!
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709 South Harbor City Boulevard, Suite 250
Melbourne, FL 32901
Phone: (321) 725-0090
Toll Free: (800) 914-0090
Fax: (321) 308-0635
For more investor information, please contact:
Evelyn Biancardi: (321) 725-0090 ext 208
First Choice Healthcare Solutions, Inc.
709 S. Harbor City Boulevard, Suite 250
Melbourne, Florida 32901
Phone: 321-725-0090 ext 202
info@myfchs.com
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