FORT MYERS — Radiation Therapy Services Holdings, an operator of 126 cancer-treatment centers, reported a net loss of $8.4 million on revenues of $177.5 million in the first quarter ending March 31.
The first-quarter net loss of $8.4 million compares with a net loss of $3.1 million in the same quarter of 2011. While revenues grew 13% in the first quarter compared with the same quarter one year ago, expenses rose 18% to $185.7 million.
In a statement, Radiation Therapy executives said lower Medicare reimbursements and physician compensation and “investments in key personnel” impacted the company's margins.
Radiation Therapy operates 126 cancer-treatment centers, including 95 located in 15 U.S. states and clustered in 28 markets. The company also operates 30 centers in six Latin American countries and one in India.