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. operates as a public healthcare company focused on healthcare facilities that provide living services, speech, occupational and physical therapies, social services, rehabilitation and related healthcare services. The company has described its facility footprint across Arkansas, Georgia, Ohio and Oklahoma, with an emphasis on care settings serving aging populations.
Recurring developments for GBCS include skilled nursing facility portfolio changes, completed asset sales, material agreements, capital-structure updates, shareholder voting matters and operating and financial results. Company announcements also cover governance changes, including board and executive appointments, as well as healthcare regulatory disclosure topics tied to its facility 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.