DSS, Inc. (“DSS” or the “Company”) (NYSE American: DSS), a
multinational company operating business segments in blockchain
security, direct marketing, healthcare, consumer packaging, real
estate, renewable energy, and securitized digital assets, today
announced its majority-owned subsidiary, American Medical REIT Inc.
("
AMRE"), has acquired three hospitals (the
“
Hospitals”) located in Fort Worth, Texas, Plano,
Texas and Pittsburgh, Pennsylvania. The aggregate purchase price
for the Hospitals was $62 million. The Hospitals are currently
tenanted and operated by LifeCare Hospitals (together with its
affiliates, “
LifeCare Hospitals”), a specialty
hospital operator with a focus on long-term acute and critical
care.
The Hospitals acquired by AMRE are currently
under an 18-year lease with eleven years remaining and an option to
renew for an additional five years. The Hospitals have a total
capacity of 195 hospital beds spanning a gross floor area of
approximately 320,000 square feet. The Hospitals are located near
densely populated and fast-growing areas, within close proximity to
state highways, making them easily accessible by patients and
clients. Additionally, the Hospitals have been accredited by The
Joint Commission and are Medicare-certified. In 2015, the Hospitals
were awarded the Quality Respiratory Care Recognition accolade
issued by the American Association of Respiratory Care.
LifeCare Hospitals has lengthy experience in
operating long term and acute care facilities. Since 1992, LifeCare
Hospitals’ early intervention and early mobilization treatment
program addresses those patients that require a length of stay
greater than 5 days in the ICU/Critical care setting. LifeCare
Hospitals provides these patients with additional resources that
are not normally provided in traditional hospital settings to
enhance the recovery process. LifeCare Hospitals operates a
behavioral health hospital in Pittsburgh that delivers innovative
behavioral health care by providing patient centered therapeutic
interventions in a safe, compassionate, and personalized recovery
environment.
“These acquisitions represent a significant
expansion of our real estate operations,” stated Frank D. Heuszel,
CEO of DSS. “While other areas within commercial real estate have
been impacted by the ongoing pandemic, medical real estate has
demonstrated considerable resiliency. With a now formidable
foundation in place, we are in a great position to pursue further
opportunities to expand AMRE as we continue to execute on our
strategic growth plans.”
“Following AMRE’s maiden acquisition of Ivy
Brook Medical Center in July this year, we are pleased to report
AMRE has expanded its portfolio with three additional quality
hospitals which we believe will position us to create sustainable
dividends and build value for our shareholders over the long term,”
commented Mr. Heng Fai Chan, Executive Chairman of the Company. “We
continue to believe that the medical REIT space is a scalable and
lucrative business model resilient to macroeconomic fluctuations.
Looking ahead, we intend to focus our attention on advancing
additional acquisitions through our pipeline of high-quality
healthcare assets so as to accelerate growth for AMRE.”
In connection with the acquisition of the
Hospitals, DSS Securities, a wholly owned subsidiary of DSS, loaned
AMRE $0.8 million and American Pacific Bancorp, Inc., a
majority-owned subsidiary of DSS, loaned AMRE $13.9 million.
About DSS, Inc.
DSS is a multinational company operating
business segments in blockchain security, direct marketing,
healthcare, consumer packaging, real estate, renewable energy, and
securitized digital assets. Its business model is based on a
distribution sharing system in which shareholders receive shares in
its subsidiaries as DSS strategically unlocks value through IPO
spin offs. Under new leadership since 2019, DSS has built the
necessary foundation for sustainable growth through the acquisition
and formation of a diversified portfolio of companies positioned to
drive profitability in five high-growth sectors. These companies
offer innovative, flexible, and real-world solutions that not only
meet customer needs, but create sustainable value and opportunity
for transformation.
For more information on DSS
visit http://www.dsssecure.com.
About American Medical REIT
Inc.
AMRE provides financing solutions to leading
medical operators by acquiring licensed patient treatment
facilities in various communities and delivering reliable, secure,
and competitive cash returns to our investors. AMRE focuses on
credit worthy single-tenant, single property transactions in the
$10-$60M range and portfolio deals of larger scale, having initial
rental yield in the 7-9% range and to pay a quarterly dividend up
to 8% in annualized yield to the investors.
For more information, please
visit: www.americanmedreit.com.
Investor Contact:
Dave Gentry, CEORedChip Companies
Inc.407-491-4498Dave@redchip.com
Safe Harbor Disclosure
This press release contains forward-looking
statements that are made pursuant to the safe harbor provisions
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Such forward-looking statements include, but are not
limited to, statements related to the Company's intended use of
proceeds and other statements that are not historical facts.
Forward-looking statements are based on management's current
expectations and are subject to risks and uncertainties that may
cause actual results or events to differ materially from those
projected. These risks and uncertainties, many of which are beyond
our control, include: risks relating to our growth strategy; our
ability to obtain, perform under and maintain financing and
strategic agreements and relationships; risks relating to the
results of development activities; our ability to attract,
integrate and retain key personnel; our need for substantial
additional funds; patent and intellectual property matters;
competition; as well as other risks described in the section
entitled "Risk Factors" in the prospectus and in our other filings
with the SEC, including, without limitation, our reports on Forms
8-K and 10-Q, all of which can be obtained on the SEC website at
www.sec.gov. Readers are cautioned not to place undue reliance on
the forward-looking statements, which speak only as of the date on
which they are made and reflect management's current estimates,
projections, expectations and beliefs. We expressly disclaim any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in our expectations or any changes in events,
conditions or circumstances on which any such statement is based,
except as required by law.
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