HOUSTON,Texas, Nov. 2, 2001 (PRIMEZONE) -- SurgiCare, Inc. (AMEX:SRG), a Houston-based Ambulatory Surgical Center (ASC) company, reported today a record number of procedures for the month of October, for Memorial Village Surgery Center, one of its Houston centers.
The center performed 267 procedures in October 2001, which is a 20% increase over the previous month, and a 6% increase from the same period last year. SurgiCare receives fees for each procedure.
"We continue to not only open new facilities, but to significantly increase the organic growth at existing facilities," said Charles Cohen, SurgiCare's Co-Chief Executive Officer. "Our model makes each facility more efficient by allowing our doctors to concentrate on what they do best -- practicing medicine. We anticipate that we will be able to replicate this model throughout the country."
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 Web site at www.surgicareinc.com.
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