First Surgical Texas Inc. Reports Revenue in Excess of $44 Million for Year Ended December 2009
BELLAIRE, Texas--(BUSINESS WIRE)-- Arkson Nutraceuticals, Inc. (OTCBB: AKSND) (the “Company”) today announced that in connection with the Alternative Public Offering of First Surgical Texas, Inc. (“First Surgical”) it has acquired 100% of First Surgical on December 31, 2010. First Surgical, including its subsidiaries, is an owner and operator of two ambulatory surgery centers (“ASC”), First Street Surgical Center, L.P. and First Surgical Woodlands, L.P., and a general acute care hospital, First Street Hospital, L.P., all located in the greater Houston, Texas metro area. Procedures performed include non-threatening surgeries, such as bariatrics, reconstructive and cosmetic plastics, orthopedics, pain management, neurosurgery and podiatry, which are often completed on an outpatient or short stay basis.
First Surgical has over 30 affiliated physicians who provide medical care and surgical services to its patients. Furthermore, there are an additional 60 non-affiliated physicians that use First Surgical’s locations for surgical procedures, many with great frequency. Management believes surgeons choose to perform surgeries at First Surgical because of the input and control they have over the facilities’ operations, the quality of the facilities, the well trained staff, the reputations of the other surgeons using the facilities, and the well respected, financially disciplined management team. Since its inception in 2002, First Surgical has partnered with the best surgeons in their specialties covering the greater Houston area. Since its founding, these physicians have performed nearly 33,000 procedures and historically the number of procedures performed each year has grown.
The revenues for fiscal year ending December 31, 2009 were $44,372,964. Net earnings for that same period were $10,084,659 or $0.28 per share based on weighted average shares outstanding of 36,002,950 for the period.
Pursuant to the terms of the acquisition, the Company has agreed to change its name to First Surgical Partners Inc. of which First Surgical Texas Inc. will continue to operate as a wholly-owned subsidiary.
“The successful completion of this transaction is a major milestone for us. Our listing on the OTC-BB will provide us with the ability to access new sources of capital with which to grow our company, and greatly enhance our visibility and market awareness of our outstanding services,” stated Tony Rotondo, Chief Executive Officer of Arkson and First Surgical.
“We believe that being a publicly traded company will further enable our acute care hospital and ambulatory surgery centers to recruit and retain the finest physicians,” stated Dr. Jacob Varon, Chairman of the Board of Arkson and First Surgical.
Nobis Capital Advisors, Inc. served as Financial Advisor to First Surgical and the Law Offices of Stephen M. Fleming PLLC served as securities counsel to First Surgical.
Additional information may be found on the Company’s Form 8k Current Report which the Company expects to file within the next four business days.
Safe Harbor Statement
Except for historical information contained herein, the statements in this news release are forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company’s actual results, performance and achievement in the future to differ materially from forecasted results, performance and achievement. These risks and uncertainties are described in the Company’s periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company’s plans or expectation.
Nobis Capital Advisors, Inc.
Tim M. Betts, 949-270-7444
KEYWORDS: United States North America Texas
INDUSTRY KEYWORDS: Health Fitness & Nutrition Hospitals