MELBOURNE, FL--(Marketwired - Nov 24, 2015) - First Choice Healthcare Solutions, Inc. (OTCQB: FCHS) ("FCHS," "First Choice" or the "Company"), one of the nation's only non-physician-owned, publicly traded healthcare services companies focused on the delivery of Orthopaedic care and treatment, today issued formal annual revenue guidance of $19.4 million for fiscal 2015, ending December 31, 2015, and $30 million for 2016.
Company Chairman, President and CEO Christian Romandetti stated, "Early last week, we were very pleased to announce record financial results for our third quarter reporting period, with total revenues topping $6.29 million and $13.12 million for the three and nine months ended September 30, 2015, respectively. Based on the trending historical results of our medical operations at First Choice Medical Group ('FCMG'), The B.A.C.K. Center ('TBC') and our recently acquired interest in Crane Creek Surgery Center ('CCSC') announced on November 2, 2015, we expect to finish 2015 with total revenues exceeding $19.4 million -- up from $8.1 million in 2014. Moreover, we are highly confident that total year revenues for 2016 will meet or exceed $30 million -- and that is before factoring anticipated organic growth from the introduction of new ancillary services to both FCMG and TBC and the notably higher volume of outpatient surgical procedures that we will be directing to CCSC."
"On the conference call I hosted last week to discuss our third quarter results, I went on record stating that the regional network of medical centers of excellence that we are building in Melbourne, Florida has the potential to yield First Choice Healthcare Solutions over $50 million in revenues. Once we begin to replicate our proven business model in new expansion markets throughout the Southeastern U.S. which we have identified, our growth trajectory should be even more pronounced. In addition, we have represented, and will continue to reaffirm, that our balance sheet has never been stronger. We are 100% committed to increasing shareholder value, and we are succeeding, as reflected in our recent 10-Q, which shows that shareholder equity rose to $4.85 million -- a notable improvement over the shareholder deficit of $3.14 million that our balance sheet reflected as of the end of 2014," added Romandetti.
In closing, he said, "We continue to be very proud of our progress, but there is still much hard work ahead of us. Nonetheless, our team is motivated and enthusiastically implementing our strategies that will enable us to comfortably achieve our annual revenue goals and to actively pursue our objective of up-listing to the New York Stock Exchange in 2016."
To listen to the recorded 2015 Third Quarter Results conference call archived on the Company's investor relations page on its website, please go to http://ir.myfchs.com.
About First Choice Healthcare Solutions, Inc.
Headquartered in Melbourne, Florida, First Choice Healthcare Solutions (FCHS) is implementing a defined growth strategy aimed at building a national collective of world class medical centers of excellence in key expansion markets throughout the U.S. with concentration in neurology, orthopaedics, spine surgery and interventional pain medicine, as well as related ancillary care services. Serving Florida's Space Coast, the Company's flagship regional network currently administers over 100,000 patient visits each year and is comprised of First Choice Medical Group, The B.A.C.K. Center and Crane Creek Surgery Center.
Safe Harbor Statement
Certain information set forth in this news announcement may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of First Choice Healthcare Solutions, Inc. Such forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management beliefs and certain assumptions made by its management. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Information concerning factors that could cause the Company's actual results to differ materially from those contained in these forward-looking statements can be found in the Company's periodic reports on Form 10-K and Form 10-Q, and in its Current Reports on Form 8-K, filed with the Securities and Exchange Commission. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise to reflect future events or circumstances or reflect the occurrence of unanticipated events.