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Northstar Healthcare Announces Option to Purchase a 60% Interest in The Palladium for Surgery - Dallas
Date:9/13/2007

HOUSTON and DALLAS, Sept. 13 /PRNewswire-FirstCall/ - Northstar Healthcare Inc., (TSX:NHC) ("Northstar") announced that it has signed a letter of intent to acquire an option to purchase a 60% interest in The Palladium for Surgery - Dallas, an ambulatory surgical center located at 5920 Forest Park Road in Dallas.

Northstar successfully completed acquisitions of a controlling interest in two other ambulatory surgery centers in Houston in May 2007. Northstar is headquartered in Houston and its common shares began trading on the Toronto Stock Exchange in May 2007.

The Palladium for Surgery - Dallas is a 17,500 square-foot ambulatory surgical center currently managed by Northstar. The Palladium for Surgery - Dallas is a multi-specialty ambulatory surgery center with three operating rooms and one treatment room for ENT, orthopedics, pain management, general surgery and podiatric surgery. Donald Kramer, Northstar's CEO, and certain other members of management currently own 100% of The Palladium for Surgery - Dallas. The letter of intent to acquire the option has been reviewed and approved by all of Northstar's independent directors.

"This agreement represents a great opportunity for us to expand Northstar's owned ASC operations, while minimizing our acquisition risk," said Dr. Donald Kramer, chief executive officer of Northstar. "Our executive team has been managing Palladium - Dallas for almost two years, so we know the center well and also have a strong understanding of its growth potential in the strong Dallas market."

Terms of the Option

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The option will become exercisable one year following the date that at least five, and not more than 12, qualified physicians join The Palladium for Surgery - Dallas as limited partners, and will have a term of two years. The Palladium for Surgery - Dallas has agreed to use its best efforts to develop this core group of physician limited partners by the end of 2007.

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SOURCE Northstar Healthcare Inc.
Copyright©2007 PR Newswire.
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