A Medical Device Daily

Pacer Health (Miami), an owner/operator of hospital, psychiatric care and medical treatment facilities in the Southeast, said it plans to expand its portfolio beyond the healthcare industry into turnaround businesses of all market segments through the creation of a subsidiary, Pacer Logistics. Pacer said that the creation of this subsidiary provides it with immediate presence and expansion opportunities into a rapidly growing market and signals Pacer's ability to service diverse businesses.

The new corporate focus will be on specializing in restructuring, reorganization and turnarounds of financially distressed companies, Pacer said.

The addition of Pacer Logistics creates the opportunity to further diversify revenues by expanding into other industries, the company said, and that its core competencies and management turnaround experience can be transferred into other industries and offer additional growth avenues to its overall portfolio.

Pacer said it also believes it will increase shareholder value by expanding into other industries to protect the company against market fluctuations. Primary measurements used by management to evaluate entry into new segments are those that represent possible turnarounds and potential profitable operating returns and signal continued long-term growth.

"This is a very exciting time for our company as we expand our business into new markets," said Rainier Gonzalez, CEO/chairman of Pacer.

Pacer says it focuses on financially distressed businesses in all market segments.