FORT MYERS — Radiation Therapy Services Holdings reported a net loss of $111.7 million in the fourth quarter on revenues of $169.7 million.
The company, one of the largest operators of radiation treatment centers in the country, recorded a $121.6 million goodwill impairment charge in the fourth quarter as the result of forecasts of lower reimbursements.
However, total revenues rose 23% in the fourth quarter to $169.7 million compared with the same quarter in 2010, reflecting improving patient volumes.
“During the fourth quarter, we saw a continued trend of improving volumes, with domestic same-practice treatments-per-day up 3%,” says Radiation Therapy President and CEO Daniel Dosoretz. “This increase reflects a continued rebound in services in some of our key markets, such as Florida and Michigan, as well as the impact of our marketing initiatives.”
Radiation Therapy operates 127 treatment centers primarily under the name 21st Century Oncology. The company's centers are located in the U.S., Latin America and India.