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Northstar Healthcare Reports $13.5M in 4Q Patient Revenue, Up 108%

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Northstar Healthcare announced its fourth quarter and year-end financial results.

The company reported $13.5 million in patient services revenue for its fourth quarter, up 108.7 percent from $6.5 million at the same period in 2012. Total cases for the fourth quarter rose 37.7 percent to 1,811.

For the 12 months end Dec. 31, 2013, Northstar reported net patient service revenue of $31.1 million, up 49 percent from $20.9 million the previous year. The company had consolidated net working capital of $8.7 million, including cash of $5.6 million in comparison to $7.1 million and $4.2 million, respectively, at the year-end of 2012.

"With positive results to date, we will continue this strategy as we roll out new programs into new markets," said Harry Fleming, CFO of Northstar Healthcare, according to the report. "We expect this to fuel significant growth with corresponding EBITDA in the second half of 2014."

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