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. (OTC: GBCS) generates news primarily around its healthcare facility portfolio, real estate transactions, operational initiatives, and corporate governance developments. The company owns and/or operates skilled nursing, assisted living, independent living, and rehabilitation-focused facilities in Arkansas, Georgia, Ohio, and Oklahoma, and its updates often describe how these facilities are managed and optimized.
News releases frequently cover purchase and sale agreements for skilled nursing facilities, particularly in Georgia. Examples include agreements to sell multiple Georgia facilities for an aggregate consideration of $31 million, the sale of the Archway Transitional Care Center in Macon, and a definitive purchase and sale agreement for the Providence of Sparta and Warrenton facilities. These announcements typically outline transaction terms, remaining facility footprints, and the company’s expectations for using proceeds to strengthen its balance sheet and refine its footprint, while noting that pending deals remain subject to customary closing conditions.
Operational news highlights facility-level performance and quality measures. Selectis Health has reported improvements in occupancy and CMS quality measurement ratings at facilities such as Southern Hills in Tulsa, Oklahoma and Park Place in Oklahoma City, Oklahoma, along with commentary on patient census, skilled patient mix, and infrastructure upgrades. Earlier updates have also discussed cost-management efforts, including use of group purchasing organizations and training programs.
Corporate governance and leadership changes are another recurring news theme. Press releases have announced appointments of executives and directors, including changes in the chief executive officer and chief financial officer roles, as well as new board members and committee assignments. Investors and observers who follow GBCS news can use this page to review these types of developments, along with historical financial and conference-related announcements disclosed by the company.
Selectis Health, Inc. (formerly Global Healthcare REIT, Inc.) is set to implement a 1-for-10 reverse stock split effective September 22, 2021. This move aims to enhance market visibility and attract institutional investors, with the company’s shares reducing from approximately 29 million to 2.9 million. The new ticker symbol remains GBCS, and a 'D' will be added to the symbol for 20 business days to denote the reverse split. Shareholders will receive instructions for exchanging certificates, with a $50 fee for manual changes. This strategic decision aligns with the company's objectives to satisfy NYSE listing requirements.
Selectis Health, Inc. (OTC: GBCS) reported a net loss of $(686,280) or $(0.03) per diluted share for Q2 2021, compared to net income of $1,116,055 or $0.04 per diluted share one year prior. Despite this, total revenues increased by 17.2% to $6.01 million in Q2 2021 from $5.13 million in Q2 2020. The company completed a significant rebranding and transition of its operations, increasing occupancy by 30% at its independent living facility. However, the impact of COVID-19 and unexpected repair costs have negatively affected census and staffing operations.
On August 14, 2021, Selectis Health, formerly Global Healthcare REIT, announced it will release its second quarter 2021 financial results on August 16, 2021. The company operates Assisted Living, Independent Living, and Skilled Nursing facilities across Arkansas, Georgia, Ohio, and Oklahoma, offering various healthcare services. Investors are encouraged to join the shareholder call at 4:15 PM EDT on the same day for insights into the company's performance. Additional details for joining the teleconference were provided, along with information for a replay.
Selectis Health, Inc. (OTC: GBCS) completed a $750,000 private offering involving 1.5 million shares at $0.50 each, aimed at enhancing working capital and acquiring a minority interest in Goodwill Hunting, LLC. This offering was oversubscribed, reflecting investor confidence in the company's growth. Selectis now fully owns Goodwill Hunting, LLC, and has taken operational control of two skilled nursing facilities previously managed by third-party operators that filed for bankruptcy. The company aims to meet NYSE American listing requirements.
Global Healthcare REIT, Inc. (OTC: GBCS), now rebranding to Selectis Health, reported a 49.6% increase in total revenue for Q1 2021, totaling $5.76 million, up from $3.85 million in Q1 2020. Net income rose by 348.8% year-over-year to $240,566, or $0.01 per diluted share. Following the reopening of the Oklahoma City facility, the company plans to optimize its operations and seek further growth. Despite positive earnings, the company is facing challenges with COVID-19 impacts and renovation costs, indicating ongoing operational risks.
Global Healthcare REIT, Inc. (OTC: GBCS), now transitioning to Selectis Health, reported a 149.6% increase in total revenue to $5.76 million for Q1 2021, compared to $3.85 million in 2020. Net income reached $240,566, or $0.01 per diluted share, marking a 448.8% increase year-over-year. The company reopened its Oklahoma City facility, investing nearly $1 million in renovations, while facing challenges from COVID-19 exposure and facility damage. Management forecasts growth through operational optimization and potential acquisitions, despite increased operational costs.
Global Healthcare REIT, Inc. (OTC: GBCS), now transitioning to Selectis Health, reported remarkable financial results for Q4 2020 and the full year. Q4 revenue saw a 174% increase year-over-year to $5.63 million, while full-year revenue surged 202% to $20.93 million. Net income for Q4 reached $1.30 million ($0.05 per share), compared to a loss of $1.05 million in Q4 2019. For the full year, net income was $2.93 million ($0.11 per share), up 428% from the previous year. The company also announced share repurchases and secured significant financing for future growth.
Global Healthcare REIT, Inc., now rebranding as Selectis Health, Inc. (OTC: GBCS), has received its Nursing Facility License from the Oklahoma State Department of Health for the Park Place & Rehab Center. The renovated 106-bed facility began admitting residents on March 26, 2021, after a $1 million upgrade. The company is also initiating the Medicaid and Medicare certification process. CEO Lance Baller expressed optimism about the facility’s potential to attract patients and its expected growth, aided by COVID-19 vaccinations. A conference call is scheduled for April 1, 2021, to discuss 2020 financial results.