Dynacq Acquires Additional Six Acres in Baton Rouge.Business Editors/Health & Medical Writers BIOWIRE2K HOUSTON--(BW HealthWire)--July 31, 2002 Dynacq International (Nasdaq:DYII) announced today that it has acquired an additional six acres of land adjacent to the Vista Surgical Hospital of Baton Rouge Baton Rouge (băt`ən r  zh) [Fr.,=red stick], city (1990 pop. 219,531), state capital and seat of East Baton Rouge parish, SE La. -- a 50,000-square-foot facility that Dynacq is
renovating into a surgical hospital. The renovated hospital will include
50 private patient rooms, newly constructed surgical suites, an
intensive care unit and diagnostic imaging facilities.
"Many of the surgeons interested in utilizing the new hospital have asked about available medical office space in close proximity. Although at this time we have not formalized for·mal·ize tr.v. for·mal·ized, for·mal·iz·ing, for·mal·iz·es 1. To give a definite form or shape to. 2. a. To make formal. b. plans to build a medical office building, we want to keep our options open. We feel that acquiring the additional acreage next to our hospital enables us to accommodate future growth," says Chiu M. Chan, chief executive officer of Dynacq International Inc. "We anticipate opening the administrative and marketing offices of the hospital by the end of September and expect to have finalized See finalization. the selection of key administrators between now and then." In late September 2001, the federal bankruptcy court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. approved a reorganization plan A scheme authorized by federal law and promulgated by the president whereby he or she alters the structure of federal agencies to promote government efficiency and economy through a transfer, consolidation, coordination, authorization, or abolition of functions. whereby Dynacq was authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: to buy the Charis complex, which consisted of a 50,000-square-foot hospital and several ancillary buildings situated on 14 acres. Dynacq purchased the hospital last November using cash on hand, thus incurring no debt for the original transaction. About Dynacq International Inc. Houston-based Dynacq International Inc. provides surgical healthcare services and related ancillary services through surgical hospital facilities and outpatient surgical centers. Dynacq specializes in creating surgical facilities that are models of efficiency, technology, clinical skills, profitability -- and most importantly Adv. 1. most importantly - above and beyond all other consideration; "above all, you must be independent" above all, most especially , patient care. Dynacq recently announced its record earnings. The company's diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of for the third fiscal quarter ending May 31, 2002 increased by 42% to $0.27 per share as compared to $0.19 for the corresponding quarter of the previous year. Net revenues increased by 54%. Certain statements in this release are forward-looking. Although the company believes its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results will not differ materially from its expectations. For factors that may cause results to differ materially from expectations and underlying assumptions, see reports by the company filed with the Securities and Exchange Commission. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion