Medical Facilities Corp.'s fourth-quarter and full-year facility services revenues decreased 6 percent and 8.6 percent, respectively, the company announced March 11.
Four things to know:
1. Fourth-quarter 2020 facility service revenues were $107.1 million, and full-year 2020 revenues were $363.9 million. The company attributed the losses to lower case volumes due to COVID-19.
2. Total revenue was down 3.9 percent for the quarter to $109.5 million. For the year, revenue decreased 2.1 percent to $389.9 million.
3. Adjusted EBITDA for the quarter was $28.4 million, a 13.1 percent decrease, and $96.1 million for the year, down 0.2 percent.
Robert Horrar, president and CEO of the company, said, "Following the dramatic rebound in the third quarter, our case volumes continued to normalize in the fourth quarter despite the surge of COVID-19 across the U.S."
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