GreeneStone Gives Go Ahead For Lease Extension And First Surgical Suite
TORONTO, March 18, 2013 (GLOBE NEWSWIRE) -- GreeneStone Healthcare Corporation (OTCBB:GRST) ("GreeneStone" or the "Company"), provider of Healthcare services and operator of several mental health clinics, announced the expansion of its services to include surgery. The Company will move forward with a multi-year lease extension at its North York facility which will allow the Company to make the investment in the addition of a surgical suite. This strategy was previously announced when the Company hired Dr. Chaklader, a Gastroenterologist who completed her Fellowship in Nutrition. Dr. Chaklader has been an important addition to GreeneStone's Endoscopy practice whose invaluable training in internal medicine and nutrition has helped the Company establish a 'Gastrointestinal Centre of Excellence.'
The surgical suite will be a Level 3 Out of Hospital Premise (OHP) as described in the guidelines of the College of Physicians and Surgeons (CPSO). This surgical suite will allow the Company to perform gastric banding as a natural extension to its gastroenterology work. It will also allow the Company to earn income from other non-related procedures such as plastic surgery. This additional revenue leverages much of our infrastructure at this clinic and will improve the bottom line. This suite is expected to be on line in the third quarter of 2013.
This specialization will be the foundation for building towards the Company's goal of providing services that will tackle the increasing problems of obesity and Type II diabetes. Shawn Leon, the company's President and CEO, commented, "We are sewing these threads together to increase the services offered to the Company's growing list of corporate clients as we continue to provide solutions to reduce corporate healthcare and disability costs. We believe this will be the most effective way to grow revenue quickly."About GreeneStone Healthcare Corporation GreeneStone Healthcare Corporation (OTCBB:GRST) operates medical and healthcare clinics in Ontario, Canada. GreeneStone's clinics serve to add overflow capacity to an increasingly stretched provincial healthcare system, and provide private alternatives to publicly available healthcare services. Its four medical clinics (three in Toronto, along with a facility in Muskoka, Ontario) offer various medical services, including addiction treatment, endoscopy, minor cosmetic procedures, and executive health care services. The company currently has more than 60 employees and is based in North York, Ontario.
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