HOUSTON, Feb. 5, 2002 (PRIMEZONE) -- SurgiCare, Inc. (AMEX:SRG), a Houston-based Ambulatory Surgical Center (ASC) company, announced today that it expects to record a 72% increase in surgical procedures this year. These forecasts include only those Centers that are currently owned or operated by SurgiCare, and those currently under construction, and exclude the effect of any future mergers or acquisitions.
"We believe that the growth that we have already demonstrated in 2000 and 2001 will only accelerate in 2002," said Charles S. Cohen, SurgiCare's Co-Chief Executive Officer. "We have positioned the company for substantial organic growth through the close and trusted working relationships we have developed with our physician partners. We believe that by combining our current facilities with our ambitious acquisition plans that we will be able to generate substantial revenue and earnings growth for our shareholders."
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 http://www.surgicareinc.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of SurgiCare, Inc. (the Company) to differ materially from those expressed or implied by such forward-looking statements. Such factors include, among others, the risk factors contained in the Company's Annual Reports and other filings with the Securities and Exchange Commission. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.