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Northstar Healthcare Announces Closing Second Round Of Re-Syndication At Dallas-Area Surgery Center

Stock quotes in this article: NHC

HOUSTON, TX, Jan. 7, 2013 /CNW/ - Northstar Healthcare Inc. (TSX: NHC) today announced the closing on December 31, 2012 of a private placement offering for equity at Northstar's affiliated Dallas-area ambulatory surgery center, Microsurgery Institute, LLC.  As a result of the placement three well-respected physicians either individually or through investment vehicles will now be affiliated with Microsurgery.

Dr. Donald Kramer, Chief Executive Officer of Northstar, commented that, "finalizing the second round of re-syndication at our Dallas center represents another milestone in Northstar's continuing turnaround.  In August we finalized a new strategic partnership with a busy and reputable spine surgeon and then set ourselves a goal of attracting new physician-talent to the center.  Now, several well-respected Dallas practitioners have affiliated with Microsurgery and are performing cases there. We hope that as Microsurgery continues to grow, it will also continue to attract this caliber of talent. Physician acquisition is a key part of our two-pronged growth strategy.  The other being Northstar's direct-to-consumer marketing, which also continues to expand."

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.

SOURCE Northstar Healthcare Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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