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FORT MYERS — Radiation-treatment center operator 21st Century Oncology Holdings boosted revenues and narrowed losses in the second quarter.
For the quarter ending June 30, 21st Century Oncology posted a net loss of $62.5 million on revenues of $263.4 million. That compares with a net loss of $205 million on revenues of $246 million in the same quarter one year ago.
21st Century Oncology says it is the largest global, physician-led operator of cancer-care services. As of June 30, the company operated 183 treatment centers, including 148 locations in 17 U.S. states and 35 centers in six countries in Latin America.
“We achieved our revenue and [earnings before interest, taxes, depreciation and amortization] targets for the quarter and the first six months of 2015 through same store growth, contributions from acquisitions, strong results from our international operations and executing on our savings and synergy programs,” says Daniel Dosoretz, founder, president and CEO, in a statement.
On July 2, 21st Century Oncology completed its acquisition of the remaining 35% interest in South Florida Radiation Oncology for $49 million, using a combination of cash, notes and equity. The company acquired 65% of South Florida Radiation in February 2014.
Internationally, the company expanded into Colombia earlier this month by forming a partnership with a leading Medellin-based oncology group. Together, the entities acquired a controlling stake in the hospital-based radiation therapy operation of Unidad de OncologÃa Hospital Manuel Uribe de Envigado.
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