Northstar Healthcare reports $15.1M in Q2 revenue: 5 things to know
1. The company's $15.1 million in estimated revenue for this quarter is an increase of $9.2 million from the second quarter of 2013.
2. "This revenue fits within our estimates and keeps us on track to meet our annual revenue projection of $74 million," said CFO Harry Fleming in the company news release.
3. The financial results don't include revenue from the company's Phoenix facility acquisition, as the transaction was delayed three months by the bankruptcy court. The company also acquired a number of MRI centers in February, which will begin to generate revenue. "We are confident that we are well positioned as we move into the second half of the year where revenues have a natural increase due to seasonality," said Mr. Fleming in the news release.
4. In leadership news, Douglas Samuelson will step down from the company's board to become general counsel. Chief tax officer Thomas Foster will resign from this position to rejoin the boar as chair of audit committee. James Springfield will resign from the board.
5. Northstar Healthcare owns and manages interest in three ambulatory surgery centers, one in Dallas and two in Houston.
More Articles on Transactions and Valuation Issues:
57 Ambulatory Surgery Centers Opened or Announced in 2014
Market Warfare: 4 ASC Projects Contested in 2014
6 Must-Reads for ASC Physicians Planning to Take on a Joint Venture Partner
© Copyright ASC COMMUNICATIONS 2016. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.
To receive the latest hospital and health system business and legal news and analysis from Becker's Hospital Review, sign-up for the free Becker's Hospital Review E-weekly by clicking here.