Radiation-treatment firm suffers loss

FORT MYERS — Radiation Therapy Services posted a $33.2 million net loss on declining revenues from cuts in insurance reimbursements and fewer prostate-cancer treatments.

Radiation Therapy, which operates 95 clinics in the U.S. under the name 21st Century Oncology, says revenues fell 1% to $168.7 million in the fourth quarter ending Dec. 31 compared with the same three months in 2011. The company says it plans to cut costs and increase patient volume this year to offset the declines.

“The fourth quarter of 2012 was challenging, with greater than expected declines in the treatment of prostate cancer,” says Daniel Dosoretz, president and CEO of Radiation Therapy, in a statement. “While we expect these declines to persist through the first half of 2013, we believe the worst is behind us, as we have seen the declines in treatment volumes decelerating in the first two months of 2013.”