HOUSTON, April 19, 2002 (PRIMEZONE) -- SurgiCare, Inc. (AMEX:SRG), a Houston-based Ambulatory Surgical Center (ASC) company, updated its expansion plans at the 28th annual Federated Ambulatory Surgical Association (FASA) in San Antonio, Texas.
The company, a Gold Sponsor at the event, officially unveiled its nationwide expansion strategy. The company plans to seek acquisitions in markets outside of Texas, and anticipates that it will soon announce a transaction in a mid-western state.
"This has been the ideal forum for us to raise our profile nationally," said Charles S. Cohen, SurgiCare's Co-Chief Executive Officer. "Virtually every major ASC operator is here this week and we are aggressively pursuing accretive transactions. We have already received a strong response to our unique model, which takes our relationships with the physician partners to a new level."
The company also announced that it will not pursue additional opportunities with Cirrus Health Care beyond the one which is currently in operation in Pasadena, Texas.
About SurgiCare, Inc.
SurgiCare, Inc. offers licensed, freestanding Ambulatory Surgery Centers for use by physicians and its physician partners and their patients. Freestanding refers to the fact that the facilities are physically and organizationally independent from a hospital. Ambulatory Surgery means surgical procedures that do not require hospitalization after the surgery. The ASCs are run under the guidance of a committee of physician partners. SurgiCare's goal is to grow through mergers, acquisitions and turnkey management contracts in conjunction with physician-involved supervision and potential equity participation within a public company model. SurgiCare has assembled a team of highly qualified industry professionals that are equipped to effectively manage multiple ASCs, essentially cutting operational costs and increasing profit margins. For more information on SurgiCare, please visit the company's Website at http://www.surgicareinc.com.
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