12:09 PM EST, 01/17/2025 (MT Newswires) -- (Updates shares.)

Medical Facilities ( MFCSF ) said Friday it will launch a substantial issuer bid for up to $80.8 million of its shares.

The offer will start around Jan. 20 and expire Feb. 24.

The company said it will acquire the shares in a price range between $15 .50 and not more than $17.00.

Medical Facilities ( MFCSF ) is proceeding with the bid after completing the sale of of its Black Hills Surgical Hospital.

After the bid, Medical Facilities ( MFCSF ) said it will continue to have sufficient financial resources and working capital to conduct its ongoing business and operations.

Medical Facilities ( MFCSF ) shares were last seen up $1.00 to $16.50 on the Toronto Stock Exchange.

Price: 16.50, Change: +1.00, Percent Change: +6.45