SOURCE: 21st Century Oncology

August 11, 2015 16:05 ET

21st Century Oncology Holdings Inc. Reports Second Quarter 2015 Financial Results

FORT MYERS, FL--(Marketwired - Aug 11, 2015) -

Second Quarter 2015 Highlights:

  • Total pro forma revenues of $285.2 million, a 7.3% year-over-year increase
  • Pro Forma Adjusted EBITDA of $51.1 million, a 13.0% year-over-year increase
  • 6th consecutive quarter of Pro Forma Adjusted EBITDA margin expansion -- 17.9% of total pro forma revenues
  • International revenues up 27.9% year-over-year
  • Completed $1.1 billion debt refinancing that extended debt maturities and provided additional liquidity

Recent Developments:

  • Completed the acquisition of remaining 35% interest in South Florida Radiation Oncology ("SFRO"), proceeding with integration
  • Expanded into Colombia through a controlling investment interest in an existing Medellin-based hospital center

Century Oncology Holdings, Inc. ("21C" or the "Company"), the leading global, physician-led provider of integrated cancer care services ("ICC"), announced today its financial results for the second quarter ended June 30, 2015. 

Dr. Daniel Dosoretz, Founder, President and Chief Executive Officer, commented, "We achieved our revenue and EBITDA targets for the quarter and the first six months of 2015 through same store growth, contributions from acquisitions, strong results from our international operations, and executing on our savings and synergy programs. This marks our sixth consecutive quarter of Pro Forma Adjusted EBITDA (adjusted earnings before interest, taxes, depreciation, amortization, stock-based compensation and other non-cash and pro forma items) margin expansion, the result of leveraging existing overhead over a larger revenue base. We remain on track to achieve our full year 2015 Pro Forma Adjusted EBITDA guidance of between $182 million and $190 million. 21C's management team remains focused on further expense management, synergy realization, EBITDA expansion, generating positive free cash flow and continued deleveraging."

Dr. Dosoretz continued, "On April 30, 2015, 21C completed a comprehensive refinancing of its debt structure. We refinanced our $90.0 million term loan facility, 9 7/8% Senior Subordinated Notes, 8 7/8% Senior Secured Second Lien Notes, and the 11 3/4% Senior Secured Notes issued by OnCure Holdings, Inc., all with maturities of less than two years, with a $610 million, 7-year Term Loan and $360 million of 8-year, 11.00% Senior Unsecured Notes due 2023. Additionally, we improved our liquidity by replacing our $100 million Revolver due 2016 with a new $125 million 5-year Revolver. Just after quarter end, on July 2, we purchased the remaining 35% interest in SFRO, completing one of the most important acquisitions in our recent history. SFRO's contributions have exceeded expectations since our initial majority investment in early 2014, and we expect this to continue as we realize synergies with 21C's existing operations in southeast Florida as well as identify and execute upon incremental investment opportunities in this region."

Second Quarter 2015 Results

Total pro forma revenues for the second quarter of 2015 were $285.2 million, compared to total pro forma revenues of $265.9 million in the same quarter of 2014, driven primarily by higher freestanding revenues, contributions from acquisitions, and international revenue growth.

Pro Forma Adjusted EBITDA in the second quarter of 2015 was $51.1 million, or 17.9% of total revenues, up 13.0% compared to $45.2 million, or 17.0% of total pro forma revenues, in the second quarter of 2014. A reconciliation of net loss attributable to 21C, determined in accordance with generally accepted accounting principles ("GAAP") to Pro Forma Adjusted EBITDA and total revenues, determined in accordance with GAAP, to total pro forma revenues for the quarters ended June 30, 2015 and 2014 is included in the attached supplemental financial information.

Income tax expense in the second quarter of 2015 was $3.1 million, compared to $0.9 million in the second quarter of 2014. The net loss for the second quarter of 2015 was $62.5 million, primarily driven primarily by approximately $37.4 million in the early extinguishment of debt related to the April 30, 2015 refinancing, compared to a net loss of $204.6 million in the second quarter of 2014. 

Recent Developments

On July 2, 2015, the Company completed its acquisition of the remaining 35% interest in SFRO for approximately $49.0 million, funded through a combination of cash, notes and equity, and is proceeding with integrating SFRO into 21C. The Company made its initial 65% investment in SFRO on February 10, 2014.

On August 1, 2015, the Company expanded into Colombia through a partnership with a leading Medellin-based oncology group which together acquired a controlling stake in the hospital-based radiation therapy operation of Unidad de Oncología Hospital Manuel Uribe de Envigado S.A.

Conference Call

The Company will host a conference call on Wednesday, August 12, 2015 at 12:00 p.m. Eastern Time, during which management will discuss its financial results in further detail. The dial-in numbers are 877-407-9039 for domestic callers and 201-689-8470 for international callers. In addition, a telephonic replay of the call will be available until August 26, 2015. The replay dial-in numbers are 877-870-5176 for domestic callers and 858-384-5517 for international callers. Please use the conference ID number 13616012 to access the replay.

A live webcast and webcast replay of the call will also be available from the events section on the Investors portion of the corporate web site at www.21co.com.

About 21st Century Oncology Holdings, Inc.

21C is the largest global, physician led provider of integrated cancer care services. The Company offers a comprehensive range of cancer treatment services, focused on delivering academic quality, cost-effective patient care in personal and convenient settings. As of June 30, 2015, the Company operated 183 treatment centers, including 148 centers located in 17 U.S. states and 35 centers located in six countries in Latin America. (Source: 21st Century Oncology Holdings, Inc.)

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. Statements preceded by, followed by or that otherwise include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans," "may increase," "forecast," and similar expressions or future or conditional verbs such as "will," "should," "would," "may," and "could" are generally forward-looking in nature and not historical facts. Forward-looking statements are based on management's current expectations or beliefs about the Company's future plans, expectations and objectives, including, but not limited to, the Company's expected financial results and estimates for 2015 and the effects of the Centers for Medicare & Medicaid Services' Final Rule for the 2016 Physician Fee Schedule on its results. These forward-looking statements are not historical facts and are subject to risks and uncertainties that could cause the actual results to differ materially from those projected in these forward-looking statements including, but not limited to reductions in Medicare reimbursement, healthcare reform, decreases in payments by managed care organizations and other commercial payers and other risk factors that may be described from time to time in the Company's filings with the Securities and Exchange Commission. Readers of this release are cautioned not to place undue reliance on forward-looking statements contained herein, which speak only as of the date stated, or if no date is stated, as of the date of this press release. The Company undertakes no obligation to publicly update or revise the forward-looking statements contained herein to reflect changed events or circumstances after the date of this release, unless required by law.

             
             
21ST CENTURY ONCOLOGY HOLDINGS, INC.  
CONDENSED CONSOLIDATED BALANCE SHEETS  
(in thousands, except share amounts)  
(unaudited)  
             
    June 30,     December 31,  
    2015     2014  
                 
ASSETS  
Current assets:                
  Cash and cash equivalents   $ 62,082     $ 99,167  
  Restricted cash     3,050       7,051  
  Accounts receivable, net     163,117       137,807  
  Prepaid expenses     11,792       8,728  
  Inventories     4,414       4,526  
  Deferred income taxes     146       227  
  Other     8,506       7,457  
Total current assets     253,107       264,963  
                 
Equity investments in joint ventures     1,251       1,646  
Property and equipment, net     260,065       270,757  
Real estate subject to finance obligation     11,556       22,552  
Goodwill     492,724       469,596  
Intangible assets, net     77,830       81,680  
Other assets     50,498       35,530  
Total assets   $ 1,147,031     $ 1,146,724  
                 
LIABILITIES AND EQUITY  
                 
Current liabilities:                
  Accounts payable   $ 60,161     $ 57,635  
  Accrued expenses     101,108       82,609  
  Income taxes payable     3,621       2,114  
  Current portion of long-term debt     30,890       26,350  
  Current portion of finance obligation     277       433  
  Other current liabilities     8,739       19,687  
Total current liabilities     204,796       188,828  
Long-term debt, less current portion     999,679       940,771  
Finance obligation, less current portion     12,197       23,610  
Embedded derivative features of Series A convertible redeemable preferred stock     22,402       15,843  
Other long-term liabilities     44,694       51,079  
Deferred income taxes     3,598       4,480  
Total liabilities     1,287,366       1,224,611  
                 
Series A convertible redeemable preferred stock, $0.001 par value, $1,000 stated value, 3,500,000 authorized, 385,000 issued and outstanding at June 30, 2015 and December 31, 2014     378,471       328,926  
Noncontrolling interests - redeemable     68,794       49,797  
                 
Commitments and Contingencies                
                 
Equity:                
  Common stock, $0.01 par value, 1,000,000 shares authorized 1,028 shares issued and outstanding at June 30, 2015 and December 31, 2014     -       -  
  Additional paid-in capital     576,083       626,001  
  Retained deficit     (1,147,267 )     (1,067,487 )
  Accumulated other comprehensive loss, net of tax     (42,735 )     (38,690 )
  Total 21st Century Oncology Holdings, Inc. shareholder's deficit     (613,919 )     (480,176 )
  Noncontrolling interests - nonredeemable     26,319       23,566  
Total deficit     (587,600 )     (456,610 )
Total liabilities and equity   $ 1,147,031     $ 1,146,724  
                 
                 
                 
21ST CENTURY ONCOLOGY HOLDINGS, INC.  
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS  
(in thousands)  
(unaudited)  
                       
  Three Months Ended     Six Months Ended  
  June 30,     June 30,  
  2015     2014     2015     2014  
           
Revenues:                              
Net patient service revenue $ 263,380     $ 245,950     $ 520,137     $ 459,858  
Management fees   15,211       16,856       31,081       33,453  
Other revenue   6,618       3,092       12,474       5,984  
Total revenues   285,209       265,898       563,692       499,295  
                               
Expenses:                              
Salaries and benefits   147,397       135,803       294,356       261,712  
Medical supplies   24,774       24,502       51,065       46,236  
Facility rent expenses   16,922       17,167       33,797       32,662  
Other operating expenses   16,073       16,096       30,997       30,477  
General and administrative expenses   43,776       34,060       72,686       64,174  
Depreciation and amortization   22,242       22,162       44,811       42,884  
Provision for doubtful accounts   3,753       3,428       8,221       7,724  
Interest expense, net   24,326       29,899       50,013       57,426  
Impairment loss   -       182,000       -       182,000  
Early extinguishment of debt   37,390       -       37,390       -  
Equity initial public offering expenses   -       4,163       -       4,163  
Loss on sale leaseback transaction   -       -       -       135  
Fair value adjustment of noncontrolling interest and earn-out liabilities   2,745       204       3,205       403  
Fair value adjustment of embedded derivative   5,217       -       6,559       -  
(Gain) loss on foreign currency transactions   (31 )     79       211       107  
Gain on foreign currency derivative contracts   -       -       -       (4 )
Total expenses   344,584       469,563       633,311       730,099  
                               
Loss before income taxes   (59,375 )     (203,665 )     (69,619 )     (230,804 )
Income tax expense   3,088       934       5,778       3,040  
                               
Net loss   (62,463 )     (204,599 )     (75,397 )     (233,844 )
                               
Net income attributable to noncontrolling interests - redeemable and non-redeemable   (2,075 )     (2,925 )     (4,383 )     (3,861 )
                               
Net loss attributable to 21st Century                              
Oncology Holdings, Inc. shareholder   (64,538 )     (207,524 )     (79,780 )     (237,705 )
                               
Other comprehensive loss:                              
Unrealized loss on foreign currency translation   (2,062 )     (750 )     (4,497 )     (10,606 )
                               
Comprehensive loss:   (64,525 )     (205,349 )     (79,894 )     (244,450 )
Comprehensive income attributable to noncontrolling interests- redeemable and non-redeemable   (1,866 )     (2,873 )     (3,931 )     (2,990 )
Comprehensive loss attributable to 21st Century Oncology Holdings, Inc. shareholder $ (66,391 )   $ (208,222 )   $ (83,825 )   $ (247,440 )
                               
                               
                               
21ST CENTURY ONCOLOGY HOLDINGS, INC.  
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS  
(in thousands)  
(unaudited)  
    Six Months Ended  
    June 30,  
    2015     2014  
Cash flows from operating activities        
Net loss   $ (75,397 )   $ (233,844 )
Adjustments to reconcile net loss to net cash provided by operating activities:                
  Depreciation     38,331       35,275  
  Amortization     6,480       7,609  
  Deferred rent expense     338       230  
  Deferred income taxes     (781 )     378  
  Stock-based compensation     5       71  
  Provision for doubtful accounts     8,221       7,724  
  (Gain) loss on the sale/disposal of property and equipment     (243 )     59  
  Loss on sale leaseback transaction     -       135  
  Impairment loss     -       182,000  
  Early extinguishment of debt     37,390       -  
  Equity initial public offering expenses     -       4,163  
  Loss on foreign currency transactions     38       -  
  Gain on foreign currency derivative contracts     -       (4 )
  Fair value adjustment of noncontrolling interest and earn-out liabilities     3,205       403  
  Fair value adjustment of embedded derivative     6,559       -  
  Amortization of debt discount     746       1,301  
  Amortization of loan costs     2,630       3,039  
  Equity interest in net (earnings) loss of joint ventures     (212 )     135  
  Distribution received from unconsolidated joint ventures     106       106  
  Changes in operating assets and liabilities:                
    Accounts receivable and other current assets     (37,921 )     (26,977 )
    Income taxes payable     1,649       (649 )
    Inventories     124       (439 )
    Prepaid expenses     (1,003 )     3,096  
    Accounts payable and other current liabilities     2,395       13,857  
    Accrued deferred compensation     686       591  
    Accrued expenses / other current liabilities     19,690       11,610  
                 
Net cash provided by operating activities     13,036       9,869  
                 
Cash flows from investing activities                
Purchase of property and equipment     (25,753 )     (33,147 )
Acquisition of medical practices     (25,611 )     (40,843 )
Restricted cash associated with medical practice acquisitions     4,001       (10,992 )
Proceeds from the sale of property and equipment     1,122       73  
Repayments from (loans to) employees     160       (410 )
Contribution of capital to joint venture entities     -       (620 )
Purchase of noncontrolling interest - non-redeemable     (1,233 )     -  
Proceeds from foreign currency derivative contracts     -       26  
Premiums on life insurance policies     (670 )     (450 )
Change in other assets and other liabilities     (156 )     (401 )
                 
Net cash used in investing activities     (48,140 )     (86,764 )
                 
Cash flows from financing activities                
Proceeds from issuance of debt     970,618       130,016  
Principal repayments of debt     (911,717 )     (41,759 )
Repayments of finance obligation     (136 )     (113 )
Proceeds from issuance of noncontrolling interest     743       1,250  
Proceeds from noncontrolling interest holders - redeemable and non-redeemable     3,230       229  
Cash distributions to noncontrolling interest holders - redeemable and non-redeemable     (2,022 )     (956 )
Payments for contingent considerations     (12,184 )     -  
Payments of costs for equity securities offering     -       (2,550 )
Payment of call premium on long term debt     (24,877 )     -  
Payments of loan costs     (25,626 )     (967 )
                 
Net cash (used in) provided by financing activities     (1,971 )     85,150  
                 
Effect of exchange rate changes on cash and cash equivalents     (10 )     (35 )
                 
Net (decrease) increase in cash and cash equivalents     (37,085 )     8,220  
Cash and cash equivalents, beginning of period     99,167       17,462  
                 
Cash and cash equivalents, end of period   $ 62,082     $ 25,682  
                 
Supplemental disclosure of noncash investing and financing activities                
Finance obligation related to real estate projects   $ 782     $ 1,106  
Derecognition of finance obligation related to real estate projects   $ 12,215     $ 4,119  
Capital lease obligations related to the purchase of equipment   $ 582     $ 7,069  
Medical equipment and service contract component related to the acquisition of medical equipment through accounts payable   $ 1,265     $ 5,175  
Issuance of notes payable relating to the acquisition of medical practices   $ -     $ 2,000  
Liability relating to the escrow debt and purchase price of medical practices   $ -     $ 11,687  
Capital lease obligations related to the acquisition of medical practices   $ -     $ 47,796  
Earn-out accrual related to the acquisition of medical practices   $ 1,258     $ 1,003  
Assumed debt obligations related to the acquisition of medical practices   $ 290     $ -  
Amounts payable to sellers in the purchase of a medical practice   $ -     $ 390  
Costs incurred for professional fees relating to issuance of equity securities   $ -     $ 1,613  
Amounts payable for related deferred financing costs   $ 855     $ -  
Noncash dividend declared to noncontrolling interest   $ 10     $ 282  
Noncash dividend declared from unconsolidated joint venture   $ 496     $ -  
Accrued dividends on Series A convertible preferred stock   $ 45,534     $ -  
Accretion of redemption value on Series A convertible preferred stock   $ 4,011     $ -  
Change in additional paid-in capital from sale/purchase of interest in subsidiaries   $ 378     $ -  
                 
                 
                 
21ST CENTURY ONCOLOGY HOLDINGS, INC.  
Supplemental Financial Information (Unaudited)  
Reconciliation of Total Pro-forma Revenue and Pro-forma Adjusted EBITDA to Net Loss Attributable  
to 21st Century Oncology Holdings, Inc. Shareholder  
                       
  Three Months Ended     Six Months Ended  
  June 30,     June 30,  
  2015     2014     2015     2014  
(in thousands):              
Total revenues $ 285,209     $ 265,898     $ 563,692     $ 499,295  
Pro-forma full period effect of acquisitions (a)   -       -       -       8,819  
Total pro-forma revenues $ 285,209     $ 265,898     $ 563,692     $ 508,114  
                               
                               
Net loss attributable to 21st Century Oncology Holdings, Inc. shareholder $ (64,538 )   $ (207,524 )   $ (79,780 )   $ (237,705 )
Income tax expense   3,088       934       5,778       3,040  
Interest expense, net   24,326       29,899       50,013       57,426  
Depreciation and amortization   22,242       22,162       44,811       42,884  
Impairment loss   -       182,000       -       182,000  
Early extinguishment of debt   37,390       -       37,390       -  
Equity initial public offering expenses   -       4,163       -       4,163  
Loss on sale leaseback transaction   -       -       -       135  
Fair value adjustment of noncontrolling interest and earn-out liabilities   2,745       204       3,205       403  
Fair value adjustment of embedded derivative   5,217       -       6,559       -  
Gain on foreign currency derivative contracts   -       -       -       (4 )
Net income attributable to noncontrolling interests, net of cash distributions   1,018       2,014       2,361       2,905  
Other expenses (b)   1,034       3,659       1,999       7,200  
Non-cash expenses (c)   1,243       1,248       2,308       1,970  
Sale-lease back adjustments (d)   (315 )     (329 )     (764 )     (632 )
Acquisition-related costs (e)   1,070       4,213       2,379       8,704  
Litigation settlement (f)   16,579       2,568       18,520       3,325  
Pro-Forma full period effect of acquisition EBITDA (a)   -       -       -       742  
                               
Pro-Forma Adjusted EBITDA (1) $ 51,099     $ 45,211     $ 94,779     $ 76,556  
                               
Pro-Forma Adjusted EBITDA as a percentage of total pro-forma revenues   17.9 %     17.0 %     16.8 %     15.1 %
                               
(1) Pro-Forma Adjusted EBITDA is defined as income (loss) before interest expense (net of interest income), income taxes, depreciation and amortization, net income attributable to noncontrolling interests, net of cash distributions, gain on the sale of an interest in a joint venture, loss on sale leaseback transaction, early extinguishment of debt, fair value adjustment of earn-out liability, fair value adjustment of embedded derivative, impairment loss, foreign currency derivative contract loss (gain), management fees accrued to our sponsor, non-cash expenses including costs relating to stock compensation, amortization of straight-line rent and amortization of capital expenditures relating to repairs and maintenance, non-cash equipment rent, sale-lease back adjustments, acquisition-related costs, other expenses including loss on sale of assets, severance payments related to termination of employee staff reductions, tail premiums on termed physicians, franchise taxes, costs relating to consulting services on Medicare reimbursement, litigation settlements with physicians, costs associated with tradename and rebranding initiatives, expenses associated with idle / closed radiation therapy treatment facilities and pro-forma full period effect of acquisition EBITDA.
 
(a) Pro-forma amounts related to adjustments to total revenues and Pro-forma Adjusted EBITDA to reflect the full period effect of our acquisitions and Value Added Services contracts completed during 2015 and 2014. The adjustments reflect the impact to our total revenues and Pro-forma Adjusted EBITDA as if the acquisitions and Value Added Services contracts had occurred at the beginning of the year.
 
(b) Other expenses include management fees accrued to our sponsor, Vestar Capital Partners, loss on sale of assets, severance payments related to termination of employee staff reductions, tail premiums paid on terminated physicians, franchise taxes and costs relating to consulting services on Medicare reimbursement. Expenses related to the costs associated with the Company's tradename and rebranding initiatives and expenses associated with idle / closed radiation therapy facilities.
 
(c) Non-cash expenses including costs relating to stock compensation, amortization of straight-line rent, amortization of capital expenditures relating to warranty arrangements amortized to repairs and maintenance and non-cash equipment rent.
 
(d) Sale-lease back adjustments relates to the adjustment of benefit derived from the classification of operating leases as finance obligations reflecting a reclassification of interest expense and depreciation and amortization expense as rent expense.
 
(e) Acquisition related costs associated with ASC 805, "Business Combinations," including professional fees, corporate development, integration and due diligence costs relating to the acquisition of medical practices.
 
(f) Litigation settlement relates to costs associated with the termination of physicians and loss contingency reserves related to the Medicare diagnostic testing matter.

We believe the Pro-Forma Adjusted EBITDA provides useful information about our financial performance to investors, lenders, financial analysts and rating agencies since these groups have historically used EBITDA-related measures in the healthcare industry, along with other measures, to estimate the value of a company, to make informed investment decisions, to evaluate a company's leverage capacity and its ability to meet its debt service requirements. Pro-forma Adjusted EBITDA eliminates the uneven effect of non-cash depreciation of tangibles assets and amortization of intangible assets, much of which results from acquisitions accounted for under the purchase method of accounting. Pro-forma Adjusted EBITDA is also used by us to measure individual performance for incentive compensation purposes and as an analytical indicator for purposes of allocating resources to our operating business and assessing their performance, both internally and relative to our peers, as well as to evaluate the performance of our operating management teams, and for purposes in the calculation of debt covenants and related disclosures.

Pro-Forma Adjusted EBITDA is not intended as a substitute for net income (loss) attributable to 21st Century Oncology Holdings, Inc. shareholder, operating cash flows or other cash flow data determined in accordance with accounting principles generally accepted in the United States. Due to varying methods of calculation, Pro-forma Adjusted EBITDA as presented may not be comparable to similarly titled measures of other companies. 

                                         
                                         
21ST CENTURY ONCOLOGY HOLDINGS, INC.  
KEY OPERATING STATISTICS  
(unaudited)  
                                 
  Three Months Ended         Six Months Ended        
  June 30,   %     June 30,     %  
United States 2015     2014   Change     2015     2014     Change  
                                         
Number of treatment days   64       64           127       127        
                                         
Total treatments - freestanding centers (same store basis)   204,503       202,779   0.9 %     392,320       383,516     2.3 %
                                         
Treatments per day - freestanding centers (same store basis)   3,195       3,168   0.9 %     3,089       3,020     2.3 %
                                         
Percentage change in freestanding revenues - same store basis   0.0 %     8.9 %         2.1 %     7.8 %      
                                         
Total radiation oncology cases completed *   9,081       8,201   10.7 %     17,698       15,725     12.5 %
                                         
Total radiation oncology cases (same store basis)   8,926       8,183   9.1 %     16,884       15,364     9.9 %
                                         
Revenue per radiation oncology case (same store basis) $ 17,556     $ 19,153         $ 17,765     $ 19,117        
                                         
                                         
Radiation therapy centers - freestanding (global)   171       168                            
Radiation therapy centers - professional / other (global)   12       12                            
                                         
Total radiation therapy centers   183       180                            
                                         
Days sales outstanding at quarter end   40       40                            
                                         
Net patient service revenue (global) - professional services only (in thousands) $ 89,332     $ 82,060         $ 180,767     $ 152,918        
                                         
Net patient service revenue (global) - excluding physician practice expense (in thousands) $ 283,673     $ 268,095         $ 561,934     $ 503,642        
                                         
* Total cases completed represents a count of patients that have completed their course of treatment. Total case counts are based on legacy and acquired clinical systems.  
                                 
                                 
  Three Months Ended         Six Months Ended        
  June 30,   %     June 30,     %  
International 2015     2014   Change     2015     2014     Change  
                                         
Total number of new cases   4,626       4,600   0.6 %     9,127       8,881     2.8 %
                                         
Revenue per radiation oncology case $ 6,701     $ 5,283         $ 6,607     $ 5,120        
                                         

Contact Information

  • 21st Century Oncology Contact:
    Richard Lewis
    SVP, CFO for U.S. Operations
    239-931-7281
    Email Contact

    Investor Contact:
    The Ruth Group
    Nick Laudico
    646-536-7030
    Email Contact

    Brandon Vazquez
    646-536-7032
    Email Contact