First Choice Healthcare Solutions Inc (OTC: FCHS) is a healthcare services company that operates outpatient clinics offering orthopedic, physical therapy, and quality-of-life medical services. Revenue is generated through a mix of insurance-reimbursed clinical services and a self-pay model for quality-of-life offerings including hormone replacement therapy, compounded medications, peptide therapies, and regenerative medicine treatments. The company emerged from bankruptcy after its reorganization plan was confirmed on February 22, 2021, following a 2020 filing in the Middle District of Florida. The bankruptcy was precipitated by legal proceedings tied to the guilty plea of former CEO Christian C. Romandetti, Sr. on conspiracy to commit securities fraud charges. As of the 10-K filed March 11, 2026, FCHS was executing a transition away from its historical fully integrated orthopedic platform toward physical and occupational therapy, compounding pharmacy services, and primary care delivery through an acquired concept called The Good Clinic, staffed by Nurse Practitioners and placed in retail spaces within high-density housing buildings.

Revenue model

FCHS generates revenue through fee-for-service clinical visits reimbursed by Medicare, third-party payors, and self-pay patients. Quality-of-life services including hormone replacement therapy, compounded medications, and regenerative medicine are described in the 10-K (filed 2026-03-11) as operating primarily on a self-pay model. The company also earns incentive payments from U.S. government programs under the HITECH Act through Meaningful Use compliance with its electronic medical record system.

Products and services

Historical services included orthopedic surgery, diagnostics, imaging (X-ray, MRI, ultrasound), interventional pain management, and orthopedic urgent care. As of the 10-K filed 2026-03-11, active and planned services include physical and occupational therapy, a compounding pharmacy offering personalized medications such as hormone replacements, erectile dysfunction treatments, cancer drugs, and pain medications, peptide therapies, regenerative medicine treatments including stem cell therapy, platelet-rich plasma therapy, exosome therapy, and shockwave therapy, and primary care through The Good Clinic concept using Nurse Practitioners.

Customers and end markets

Patients seeking outpatient orthopedic, physical therapy, and quality-of-life care, including individuals with menopausal symptoms, chronic pain, diabetic foot conditions, and degenerative diseases. Payors include Medicare, third-party insurers, and self-pay individuals. The Good Clinic concept targets residents of high-density urban housing buildings.

Value-chain role

Direct provider of outpatient clinical services and compounded pharmaceutical products. The company operates its own clinics and a compounding pharmacy, uses a cloud-based EMR system compliant with CMS Meaningful Use Stages 1 and 2, and functions as both a covered entity and business associate under HIPAA.

Geographic exposure

Operations are described as U.S.-based with bankruptcy proceedings in the Middle District of Florida. The Good Clinic concept targets retail space in high-density housing buildings. No specific state or city concentration beyond Florida is disclosed in the excerpts.

Source: SEC 10-K, filed 2026-03-11

Industry: Services-Medical Laboratories Peers: /entities/aibt Assure Holdings Corp. Cigna Group Invitae Corp ETAO International Co., Ltd.