Welcome to our dedicated page for SELECTIS HEALTH news (Ticker: GBCS), a resource for investors and traders seeking the latest updates and insights on SELECTIS HEALTH stock.
SELECTIS HEALTH INC (symbol: GBCS) is a prominent player in the real estate development and healthcare administration sectors. The company excels in managing healthcare facilities, ensuring they operate efficiently and provide top-notch patient care. Headquartered in Tulsa, OK, Selectis Health focuses on leasing facilities that are strategically located to optimize operational capabilities and improve health outcomes.
Recent news highlights significant transactions involving Georgia facilities, showcasing Selectis Health's strategic growth and expansion. Post-transaction, the company's remaining facilities are positioned to continue delivering exceptional healthcare services. Selectis Health remains committed to its mission of enhancing the quality of care through well-managed real estate assets.
One of the key aspects of Selectis Health's business model is its reliance on third-party operators to manage leased facilities. This approach allows the company to concentrate on its core strengths in real estate and healthcare administration, while ensuring that each facility is run by specialists in healthcare services. This unique model not only maximizes efficiency but also positions Selectis Health as a leader in the industry.
Financially, Selectis Health has demonstrated resilience and growth potential, underscored by favorable transaction terms and proceeds from recent deals. Looking ahead, the company remains optimistic, as indicated in their forward-looking statements. For investors, Selectis Health represents a promising balance of real estate development and healthcare service management.
- Real Estate Development
- Healthcare Administration
- Strategic Facility Leasing
- Third-Party Facility Operation
- Recent Expansion and Transactions
For more detailed information, you can contact their Investor Relations team through Scott Liolios or Jackie Keshner at Gateway Group, Inc. via email at selectis@gateway-grp.com or phone at (949) 574-3860.
Selectis Health (OTC: GBCS) has permanently appointed Adam Desmond as Chief Executive Officer, effective October 17, 2024. The Board of Directors has approved a salary increase for Desmond from $150,000 to $250,000 per annum. In exchange, Desmond has agreed to forgo the Company's Board Compensation stipend of $7,500 quarterly.
Desmond, who has been serving as Interim CEO since October 22, 2022, has demonstrated strong leadership over the past two years by navigating the company through challenging market conditions and focusing on long-term strategic goals. These include improving operational efficiencies, divesting non-core assets, and strengthening the balance sheet.
CFO Jim Creamer expressed confidence in Desmond's ability to advance strategic initiatives, guide the company forward, and build long-term shareholder value.
Selectis Health (OTC: GBCS) has completed the sale of the Archway Transitional Care Center in Macon, Georgia, for $6.75 million. The transaction, closed on June 18, 2024, was executed by the company's subsidiary, Goodwill Hunting, , to Bibb County Holdings II, The sale includes the real estate, buildings, and certain personal property associated with the facility. CEO Adam Desmond stated that the sale aligns with the company's operational improvement initiatives and aims to enhance its balance sheet, retire existing debt, and optimize its remaining facility footprint. Selectis Health will continue to operate other facilities in Georgia and other states, maintaining a significant presence in the skilled nursing and healthcare sectors.
Selectis Health, Inc. (OTC: GBCS) has entered into a definitive Purchase and Sale Agreement to sell Archway Transitional Care Center in Georgia for $6.75 million. The transaction is expected to enhance the company's balance sheet and provide flexibility for further initiatives. The sale includes certain real property in Macon, Bibb County, Georgia, with the Purchaser having a 45-day Inspection Period. Upon completion of the sale, Selectis Health will continue to own and operate various healthcare facilities in Georgia and other states.
Selectis Health, Inc. (OTC: GBCS) reported a 31% increase in Q3 2022 revenue, reaching $9.6 million, up from $7.3 million year-over-year. However, the company faced a net loss of $1.0 million, or $(0.33) per share, compared to a net loss of $0.06 million, or $(0.02) per share in the prior year. Selectis continues to enhance operational efficiencies and optimize costs through group purchasing agreements projected to save 4% annually. Recent strategic hires and training programs aim to improve patient census and profitability as they adapt to ongoing healthcare sector changes.
Selectis Health is set to present at the Rocky Mountain Microcap Conference X on November 10, 2022, at TopGolf, Centennial, Colorado. The presentation will occur at 1:52 p.m. Mountain Time. Selectis Health operates healthcare facilities across several states, including Arkansas, Georgia, Ohio, and Oklahoma, focusing on a wide variety of healthcare services. The company aims to enhance its presence in the Southcentral and Southeastern U.S. to better serve the aging population.
Selectis Health announced the appointment of Andrew Sink as an independent director, effective October 17, 2022, filling the vacancy left by Clifford Neuman's resignation as director and secretary. Sink, with over 30 years of real estate experience, is expected to provide valuable insights as the company pursues its business transformation and compliance for a major national exchange listing. His extensive background includes managing private equity funds totaling over $100 million and involvement in transactions exceeding $700 million. CEO Lance Baller emphasizes Sink's crucial role in advancing strategic progress.
Greenwood Village, CO, Oct. 17, 2022 – Selectis Health (OTC: GBCS) will present at the 15th Annual LD Micro Main Event, taking place at the Luxe Sunset Bel Air Hotel in Los Angeles from October 25-27, 2022. Management is set to present on October 25 at 12:30 p.m. PT. The event features over 200 companies and will include live webcasts of presentations. For further inquiries or to arrange meetings with management, contact the investor relations team via email. Selectis provides healthcare services across multiple states, focusing on community relationships and quality care.
Selectis Health reports strong financial results for Q2 2022, with revenue rising 91% year-over-year to $11.5 million and net income reaching $1.0 million.
Recent compliance with SEC reporting obligations follows challenges in auditing previous financial statements. The company has optimized operations by hiring additional financial and healthcare staff, driving improvements in patient occupancy rates across facilities.
Looking ahead, Selectis aims to continue enhancing profitability and operational efficiency while preparing for a potential listing on a national exchange.
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