21st Century Oncology Holdings, Inc., together with its subsidiaries, operates as a physician-led provider of integrated cancer care services. Its radiation treatment services include external beam therapies, such as conformal radiation therapy, intensity modulated radiation therapy, and stereotactic radiosurgery, as well as internal radiation therapies, such as high-dose and low-dose rate brachytherapies, and radiopharmaceutical therapy. The company’s radiation treatment services also comprise image guided radiation therapy, Gamma function testing, and respiratory gating. In addition, it offers support services in the areas of psychological and nutritional counseling, as well as transportat...
2270 Colonial Boulevard
Fort Myers, FL 33907
Founded in 1983
21st Century Oncology Holdings, Inc. Announces Management Changes
Dec 5 16
On November 29, 2016, Joseph Biscardi, the Senior Vice President, Assistant Treasurer, Controller, Chief Accounting Officer and principal accounting officer of 21st Century Oncology Holdings, Inc., informed the company that he will resign from those positions, effective as of December 23, 2016. LeAnne M. Stewart, the company's Chief Financial Officer, will assume the additional role of principal accounting officer until a permanent replacement is appointed.
21st Century Oncology Holdings, Inc. Fails to Pay Semi-Annual Interest Payment Governing its 11.00% Senior Notes Due 2023
Nov 14 16
On November 1, 2016, 21st Century Oncology Holdings, Inc. announced that it failed to make a semi-annual interest payment as required by the indenture governing its 11.00% Senior Notes due 2023. The failure to make such interest payment, if not cured within 30 days, will result in an event of default under the Indenture. The company is using the available cure period to work with its lenders, bondholders and stakeholders to address the default.
21st Century Oncology Holdings, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016; Records Impairment Loss for the Third Quarter of 2016
Nov 14 16
21st Century Oncology Holdings, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016. Total revenues decreased by $16.6 million, or 6.3%, from $262.3 million for the three months ended September 30, 2015 to $245.7 million for the three months ended September 30, 2016. For the quarter, the company reported loss before income taxes and equity interest in net income of joint ventures was $75,484,000 compared with $52,384,000 for the same period a year ago. Net loss attributable to 21st Century Oncology Holdings, Inc. shareholder was $79,922,000 compared with $57,775,000 for the same period a year ago. Pro-Forma Adjusted EBITDA was $23,623,000 compared with $31,418,000 for the same period a year ago. The increase in net loss was the result of a $16.6 million reduction in total revenue, an increase in other gains and losses of $6.2 million, an increase in interest expense of $3.4 million and a $3.0 million increase in provision for bad debt, partially offset by a $5.8 million decrease in salaries and benefits.
For the nine months, the company reported total revenues of $774,360,000 compared with $816,103,000 for the same period a year ago. Loss before income taxes and equity interest in net income of joint ventures was $85,935,000 compared with $126,874,000 for the same period a year ago. Net loss attributable to 21st Century Oncology Holdings, Inc. shareholder was $97,479,000 compared with $140,480,000 for the same period a year ago. Pro-Forma Adjusted EBITDA was $95,967,000 compared with $120,292,000 for the same period a year ago. Net cash used in operating activities was $42,834),000 compared with net cash provided by operating activities of $33,321,000 for the same period a year ago. Purchase of property and equipment was $24,204,000 compared with $33,595,000 for the same period a year ago. The decrease in net loss resulted from a $22.4 million reduction in salaries and benefits, a decrease in general and administrative expense of $40.3 million and a $37.4 million reduction in the early extinguishment of debt, offset by a $41.7 million decline in revenue, a $3.6 million increase in provision for doubtful accounts, and a $13.8 million increase in fair value measurements.
For the quarter, the company recorded an impairment loss of $770,000.