TORONTO, Aug. 22, 2013 (GLOBE NEWSWIRE) -- GreeneStone Healthcare Corporation (OTCBB: GRST ) ("GreeneStone" or the "Company"), a provider of healthcare services and operator of several mental health clinics, has agreed to acquire the operations of the Castelli Clinic (the "Clinic"), an endoscopy and gastroenterology practice located in downtown Toronto.
Dr. Mario Castelli established the Clinic in December 2008. As part of the acquisition, Dr. Castelli will continue to work at the Clinic as well as service GreeneStone's other locations. The Clinic will primarily focus on consultations related to endoscopy and gastroenterology, and Dr. Castelli and Dr. Mohsina Chakladar will be the primary practitioners at the Clinic. All endoscopy and minor surgical procedures set-up through these consultations will be performed at the Company's existing endoscopy clinics, contributing extra patient flow to the Company's existing capacity. The Company believes that the overall revenue will increase immediately upon taking over the Clinic's practice, which is expected to be finalized before the end of August.
The Company now has 10 feeder clinics where consultations are performed and provide patient flow to the Company's two existing endoscopy locations. This system will continue to grow and expand at an increased rate as the Company offers more services to the population of referring general practitioners who refer patients to the Company.
Shawn Leon, GreeneStone's Chief Executive Officer, stated, "We are very pleased to add the Castelli Clinic to the Company's growing list of locations and we are especially pleased to have someone of Dr. Castelli's stature join our team. We believe the addition of Dr. Castelli's list of referring physicians and patients will be an added boost to our current operations."
About GreeneStone Healthcare Corporation
GreeneStone Healthcare Corporation (OTCBB: GRST ) operates medical and healthcare clinics in Ontario, Canada. GreeneStone's clinics serve to add overflow capacity to an increasingly stretched provincial healthcare system, and provide private alternatives to publicly available healthcare services. Its four medical clinics (three in Toronto, along with a facility in Muskoka, Ontario) offer various medical services, including addiction treatment, endoscopy, minor cosmetic procedures, and executive health care services. The Company currently has more than 60 employees and is based in North York, Ontario. For more information you can visit our website at www.greenestone.net .
Notice Regarding Forward-Looking Statements
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Investor contact: Christine Petraglia CSIR Group, LLC (212) 386 7082
