Navigation Links
Northstar Healthcare Announces Option to Purchase a 60% Interest in The Palladium for Surgery - Dallas

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


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.

The option values The Palladium for Surgery - Dallas at six times the annualized EBITA earned from the ambulatory surgical center owned by Palladium for Surgery-Dallas for the applicable period prior to the date of exercise. Upon an exercise of the option by Northstar, the current limited partners will be required to sell 100% of their partnership interests to Northstar. The balance of the partnership interests to be acquired by Northstar upon an exercise of the option will be sold by the physician limited partners of The Palladium for Surgery - Dallas, who will collectively hold the remaining 40% of the partnership interests following the acquisition. Issuance of the option is subject to the negotiation and execution of a mutually acceptable definitive option agreement.

For information on Northstar, please contact Jason Fisher, vice president of physician relations for Northstar Healthcare, at 281/840-5163 or visit

About Northstar Healthcare Inc.


Northstar owns and/or manages ambulatory surgery centers in the United States, focusing initially on Houston and other metropolitan areas in Texas. The company currently holds interests in two ambulatory surgery centers in Houston - a 70 percent partnership interest in The Palladium for Surgery - Houston and a 60 percent partnership interest in Medical Ambulatory Surgical Suites. In addition, Northstar manages an ambulatory surgery center in Dallas and three pain management clinics in Houston.

Northstar was founded and sponsored by Donald Kramer, M.D., its chief executive officer, and Stewart A. Feldman. Mr. Feldman also served as the co-principal in and Chairman and Chief Executive Officer of Healthcare Ventures, Ltd., which sponsored Northstar, with Dr. Kramer serving as its President.

Forward-looking statements


This press release may contain forward-looking statements (within the meaning of applicable securities laws) relating to business of Northstar Healthcare Inc. (the "Company") and the environment in which it operates. Forward-looking statements are identified by words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" and other similar expressions. These statements are based on the Company's expectations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. These risks and uncertainties are discussed in the Company's regulatory filings available on the Company's web site at or at There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. The Company undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances.

SOURCE Northstar Healthcare Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Healthcare sector is now a multi billion-dollar industry in India
2. Iodex goes to SmithKline Beecham consumer Healthcare
3. Healthcare Professionals Might Want To Rethink Their Dress Code
4. WHO report asks for improved healthcare for mother and child
5. New X-ray machine launched by GE Healthcare
6. India To March Ahead in The Global HealthCare Competition
7. Medical Fraternity Urged To Revamp Indian Healthcare
8. British Healthcare Mission Explores Partnership Possibilities With Indian Healthcare Sector
9. Need For Social Churning Emphasized In CMC Meet On ‘Leadership In Healthcare
10. LINK Applied Genomics Programme Promises To Revolutionize Healthcare Systems
11. India Can Manage World’s Healthcare Crisis By 202
Post Your Comments:
(Date:10/12/2017)... ... ... The American College of Medical Informatics (ACMI) will present the 2017 Morris ... of AMIA’s Annual Symposium in Washington, D.C. AMIA’s Annual Symposium is taking ... in the field of medical informatics, this prestigious award is presented to an individual ...
(Date:10/12/2017)... ... October 12, 2017 , ... Information about ... intend to develop to enable prevention of a major side effect of chemotherapy ... especially in pediatric patients. For cisplatin, hearing loss is FDA listed on-label as ...
(Date:10/12/2017)... ... October 12, 2017 , ... HMP , a ... of a 2017 Folio Magazine Eddie Digital Award for ‘Best B-to-B Healthcare Website.’ Winners ... October 11, 2017. , The annual award competition recognizes editorial and design excellence across ...
(Date:10/12/2017)... ... October 12, 2017 , ... On Saturday, October 21, ... relay – Miles by Moonlight to raise money for the American Heart Association Heart ... , Teams will work together to keep their treadmills moving for 5 hours. ...
(Date:10/12/2017)... ... October 12, 2017 , ... Health Literacy Innovations ... literacy software tool, and the Cancer Patient Education Network (CPEN), an independent professional ... announce a new strategic alliance. , As CPEN’s strategic partner, HLI will ...
Breaking Medicine News(10 mins):
(Date:9/22/2017)... ROCKVILLE, Md. , Sept. 22, 2017  As ... by Republican Senators Bill Cassidy (R-LA) and ... Kalorama Information notes that the medical device industry is ... the medical device tax, the 2.3% excise tax on ... Act.  But they also want covered patients, increased visits ...
(Date:9/18/2017)... , Pa. and KALAMAZOO, Mich. , ... Allentown, Penn. , and OptiMed Specialty Pharmacy of ... business partnership to offer a strategic hub service that ... Healthcare,s highly sought-after personal spirometer, Spiro PD 2.0, and ... A spirometer is a medical device used to ...
(Date:9/12/2017)...  Consumer reviews on the independent review site Consumer Affairs ... company for hearing aids, ranking it higher than Miracle Ear ... ... For Hearing Aids ... online store that provides high performance, state-of-the-art, German-engineered hearing aids directly ...
Breaking Medicine Technology: