Medical Facilities (TSX:DR) Q3 2025 Earnings Call

0:01 Good morning, everyone. Welcome to Medical Facilities Corporation's 2025 third quarter earnings call. After management's remarks, this call will include a question and answer session when qualified equity analysts may ask questions. Before turning the call over to management, listeners are reminded that today's call may contain forward-looking statements within the meaning of the safe harbor provisions of Canadian provincial securities laws. Forward-looking statements involve risks and Uncertainties and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements. For additional information, please consult the MD&A for this quarter, the risk factor section of the annual information form and medical facilities, other filings with Canadian securities regulators.

0:57 Medical facilities does not undertake to update any forward-looking statements, except as required by law. Such statements speak only as of the date made. I would now like to turn the meeting over to Mr. Jason Redman, President and CEO of Medical Facilities. Please go ahead, Mr. Redman. Good morning, everyone, and thank you for joining us today. On the call with me is our Chief Financial Officer, David Watson. This morning, we reported our third quarter results, our news release, financial statements, and MD&A, are available on our website and have been filed on CDAR+. Please note that the income statement variances discussed by Dave and I this morning are for continuing operations and exclude government stimulus amounts from last year. As usual, all dollar amounts are in U.S. dollars unless otherwise specified.

1:46 We had a strong quarter with growth in income from operations and EBITDA driven by increased facility service revenue at each of our highly rated surgical facilities. A big contributor in the quarter was Sioux Falls Festival Hospital, where as expected, surgical case volumes had a solid rebound following the planned relocation of a key referral group's clinic earlier in the year. While the clinic move had a temporary negative