Northstar Healthcare reported its third quarter financial results. Here are five things to know from the report.
1. The company reported $17.2 million in net patient service revenue, up 125 percent from $7.6 million in the third quarter of 2013. Northstar reported 1,649 cases for the quarter, up 22.7 percent from the 1,344 cases performed in the prior year's period.
2. "Northstar continues to see rapid growth and record revenue of $17.2 million in the third quarter. With the acquisition of a majority interest in a hospital and surgery center in the Houston market, the company is growing its operational platform and driving new revenue," said CEO Donald Kramer, MD.
3. Northstar reported EBITDA of $1.5 million, up from $0.1 million in the third quarter of 2013.
4. The company's cash flow for the third quarter was $2.2 million, up $0.1 million from the prior year's period.
5. Northstar owns and manages five ambulatory surgery centers, one acute care hospital, two imaging centers and one urgent care clinic.