Northstar Healthcare Announces Closing Second Round of Re-Syndication at Dallas-Area Surgery Center

HOUSTON, TX, Jan. 7, 2013 /CNW/ - Northstar Healthcare Inc. (TSX: NHC) today announced the closing on December 31, 2012 of a private placement offering for equity at Northstar's affiliated Dallas-area ambulatory surgery center, Microsurgery Institute, LLC.  As a result of the placement three well-respected physicians either individually or through investment vehicles will now be affiliated with Microsurgery.

Dr. Donald Kramer, Chief Executive Officer of Northstar, commented that, "finalizing the second round of re-syndication at our Dallas center represents another milestone in Northstar's continuing turnaround.  In August we finalized a new strategic partnership with a busy and reputable spine surgeon and then set ourselves a goal of attracting new physician-talent to the center.  Now, several well-respected Dallas practitioners have affiliated with Microsurgery and are performing cases there. We hope that as Microsurgery continues to grow, it will also continue to attract this caliber of talent. Physician acquisition is a key part of our two-pronged growth strategy.  The other being Northstar's direct-to-consumer marketing, which also continues to expand."

About Northstar Healthcare Inc.
Northstar partners with physicians in the ownership and management of ambulatory facilities and healthcare services. Northstar owns and manages interests in three ambulatory surgery centers, two in Houston and the third in Dallas.

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SOURCE: Northstar Healthcare Inc.