Health care services provider GreeneStone Healthcare Corporation (OTCQB: GRST) today announced a string of strategic moves designed to strengthen the company’s balance sheet and position it for sustainable growth in the U.S. health care market. First, GreeneStone acquired Cranberry Cove Holdings, which owns the real estate used by GreeneStone’s addiction treatment facility in Muskoka, Ontario. Next, the company sold the operational assets of its Muskoka clinic for a total consideration of CDN$10 million. Through its newly-acquired subsidiary, the company will continue to own and lease the clinic building moving forward. Finally, on February 13, 2017, GreeneStone closed on the acquisition of the business and real estate assets of Seastone addiction treatment center in Delray Beach, Florida. Shawn Leon, president and CEO of GreeneStone, noted the benefits of these strategic moves in the news release. “We have been able to eliminate debt that was accumulated during the building of the Canadian business in 2012 and 2013, and we will benefit from a stable cash flow generated by rental income from the lease of the Muskoka clinic while we build the business in Florida,” he stated.
To view the full press release, visit http://nnw.fm/yBN3s
About GreeneStone Healthcare Corporation
GreeneStone Healthcare Corporation (OTCQB: GRST) operates in the behavioral healthcare space, specifically in the treatment of substance use disorders. GreeneStone developed a unique style of treatment over the last six years and has had much success with in-patient treatment for adults. Greenestone will continue to develop its programs with its expansion into the United States. For more information, you can visit our website at www.greenestoneclinic.com and www.greenestone.net.
About NetworkNewsBreak
NetworkNewsBreak (NNB) provides a rapid summary of corporate news that caught the attention of NetworkNewsWire (NNW). NNB keeps you up-to-date on active US Public Companies complementary to NNW’s broader scope as a provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, NNW is uniquely positioned to best serve private and public companies who need to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
For more information, visit https://www.networknewswire.com.
Please see full disclaimers on the NetworkNewsWire website: http://nnw.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.networknewswire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
