RALEIGH, N.C., Aug. 12, 2026 (GLOBE NEWSWIRE) -- Lumexa Imaging (Nasdaq: LMRI), one of the nation's largest providers of outpatient imaging services, today reported results for the second quarter ended June 30, 2026, and updated its full year 2026 outlook.
"During the second quarter, we continued to build on our momentum, delivering strong same-center growth, expanding our mix of advanced imaging and ramping new centers," said Caitlin Zulla, Chief Executive Officer of Lumexa Imaging. "Some highlights include announcing four new imaging centers year to date and a joint venture with Hospital for Special Surgery (HSS), a globally recognized leader in musculoskeletal health, marking our ninth health system partnership and our second new joint venture in the past twelve months."
"With a large and growing addressable market and durable demand tailwinds, we believe Lumexa Imaging is well positioned to deliver sustained, profitable growth while expanding access to high-quality, lower-cost imaging for patients, providers, and payors."
Second Quarter 2026 Highlights:
All comparisons are to the quarter ended June 30, 2025, unless otherwise noted
-- Consolidated revenues of $264.2 million, an increase of 5.1% from $251.4
million
-- System-wide revenue growth of 6.0%
-- Consolidated advanced outpatient volume growth of 6.8% and 6.3%
system-wide
-- Same-center advanced outpatient volume growth of 5.2% consolidated and
4.9% system-wide
-- Net income of $2.7 million as compared to net loss of $7.2 million
-- Adjusted EBITDA of $56.4 million as compared to $56.3 million; and a
21.4% Adjusted EBITDA margin as compared to 22.4%
-- GAAP EPS of $0.03 per share and Adjusted EPS of $0.20 per share
2026 Full Year Outlook:
Lumexa Imaging provided an update on its guidance for the full year ended December 31, 2026.
-- Reiterating full-year 2026 consolidated revenue guidance of $1.045
billion to $1.097 billion.
-- Narrowing its full-year 2026 Adjusted EBITDA guidance range to $235
million to $241 million, from its prior range of $234 million to $242
million. The midpoint of $238 million is unchanged. This includes
approximately $7 million of public company costs that were not incurred
in 2025. (At the midpoint of guidance, the addition of these costs lowers
Adjusted EBITDA growth for 2026 versus 2025 from 7% to 4%)
-- Reiterating guidance for Adjusted EPS of $0.71 to $0.77 per share.
Lumexa Imaging Earnings Conference Call and Webcast
Lumexa Imaging will host a conference call to discuss its second quarter 2026 results, as well as its 2026 outlook, on August 12, 2026 at 5:00 p.m. ET. The call can be accessed via live audio webcast online at ir.lumexaimaging.com. A replay of the webcast will be available at the same link shortly after the completion of the call and will remain available for approximately one year.
Statement Regarding Use of Non-GAAP Financial Measures
This press release uses Adjusted EBITDA and Adjusted EPS, financial measures that are not calculated in accordance with GAAP. We use Adjusted EBITDA and Adjusted EPS, in conjunction with GAAP financial measures, as an integral part of managing our business and to, among other things: (i) monitor and evaluate the performance of our business operations and financial performance; (ii) facilitate internal comparisons of the historical operating performance of our business operations; (iii) review and assess the operating performance of our management team; and (iv) analyze and evaluate financial and strategic planning decisions regarding future operations and annual operating budgets. For a reconciliation of Adjusted EBITDA and Adjusted EPS to the most directly comparable measure calculated in accordance with GAAP, please see below.
We have not reconciled our Adjusted EBITDA or Adjusted EPS guidance to their most directly comparable GAAP measures because we do not and are not able to provide guidance for those GAAP measures due to the uncertainty and potential variability of certain reconciling items, including transaction costs, severance and executive recruiting. Because such items cannot be provided without unreasonable efforts, we are unable to provide the corresponding reconciliations. However, such reconciling items could have a significant impact on our future results.
About Lumexa Imaging
Lumexa Imaging is a nationwide provider of outpatient medical imaging. With over 5,000 team members and greater than 190 outpatient imaging centers, our team conducted approximately 4 million outpatient procedures system-wide in 2025. We are a partner of choice for health systems and radiologists, delivering best-in-class clinical excellence, operations, and state-of-the-art technology across our platform.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release may be forward-looking statements. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "contemplate, " "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," or "will," or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Forward-looking statements in this release include, but are not limited to, statements regarding our expectations regarding our financial position and operating performance, including our guidance for full year 2026 and our assumptions underlying such guidance; our ability to drive future growth and execute on our goals and strategies; and our expectations regarding our product innovation. Our expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including but not limited to those risk factors identified in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of our Annual Report on Form 10-K for the year ended December 31, 2025 and our later dated Quarterly Reports on Form 10-Q, each as filed with the Securities and Exchange Commission. The forward-looking statements in this press release are based on information available to us as of the date hereof, and we disclaim any obligations to update any forward-looking statements, except as required by law.
Investor Contact
Sue Dooley
Lumexa Imaging
Sue.Dooley@LumexaImaging.com
Media Contact
Melissa Weston
Lumexa Imaging
Melissa.Weston@LumexaImaging.com
Lumexa Imaging Q2 2026 Outpatient Volumes Highlights:
Consolidated 2Q26 2Q25 Increase YoY
Consolidated total procedures 617,722 602,366 2.5%
Consolidated advanced procedures 193,125 180,911 6.8%
% advanced procedures 31.3% 30.0% 123bps
Consolidated same-center advanced
volume growth ------ ------ 5.2%
System-wide
System-wide total procedures 1,022,874 992,118 3.1%
System-wide advanced procedures 382,506 359,948 6.3%
% advanced procedures 37.4% 36.3% 111bps
System-wide same-center advanced
volume growth ------ ------ 4.9%
Note: Advanced Procedures includes MRI and CT modalities.
Center count at June 30, 2026 was 192 total, 88 JV
and 104 consolidated.
LUMEXA IMAGING HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS, EXCEPT FOR COMMON SHARES)
(Unaudited)
June 30, 2026 December 31, 2025
--------------- ---------------------
ASSETS
Cash and cash equivalents $ 69,705 $ 58,828
Accounts receivable 120,637 112,942
Accounts receivable, related
party 20,024 18,893
Other receivables 31,552 19,015
Prepaid expenses 14,498 17,582
---------- --------------
Total current assets 256,416 227,260
---------- --------------
Property and equipment, net of
accumulated depreciation 156,062 144,709
Operating lease right-of-use
assets 77,033 76,555
Investments in unconsolidated
affiliates 423,331 423,191
Intangible assets, net of
accumulated amortization 39,722 41,335
Goodwill 807,554 807,554
Other assets 48,654 43,953
---------- --------------
TOTAL ASSETS $ 1,808,772 $ 1,764,557
========== ==============
LIABILITIES AND EQUITY
Accounts payable $ 27,062 $ 44,857
Accrued expenses and other
current liabilities 109,167 95,561
Accounts receivable pledging
arrangement 1,267 1,599
Current portion of long-term
debt 14,330 13,112
Current portion of finance
lease liabilities 14,597 11,552
Current portion of operating
lease liabilities 11,932 12,513
---------- --------------
Total current liabilities 178,355 179,194
Long-term debt, less current
maturities 819,753 819,029
Long-term finance lease
liabilities, less current
maturities 41,177 33,262
Long-term operating lease
liabilities, less current
maturities 72,296 71,437
Deferred income taxes 43,592 40,772
Other liabilities 38,538 34,740
---------- --------------
Total liabilities 1,193,711 1,178,434
---------- --------------
COMMITMENTS AND CONTINGENCIES
EQUITY:
Common stock, $0.001 par value,
1,000,000,000 shares authorized,
96,074,976 shares issued and
outstanding at June 30, 2026 and
96,109,927 shares issued and
outstanding at December 31, 2025 96 96
Additional paid-in-capital 1,241,563 1,217,087
Accumulated deficit (626,598) (631,060)
---------- --------------
Total equity 615,061 586,123
---------- --------------
TOTAL LIABILITIES AND EQUITY $ 1,808,772 $ 1,764,557
========== ==============
LUMEXA IMAGING HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE INCOME (LOSS)
(IN THOUSANDS, EXCEPT FOR SHARE AND PER SHARE DATA)
(Unaudited)
Three Months Ended June 30,
---------------------------------
2026 2025
REVENUES:
Net patient service revenue $ 203,735 $ 198,185
Management fee and other revenue 60,427 53,217
----------- -----------
Total revenues 264,162 251,402
OPERATING EXPENSES:
Cost of operations, excluding
depreciation and amortization 225,285 212,265
General and administrative
expenses 24,397 18,689
Depreciation and amortization 10,083 9,279
(Gain) loss on disposal of
property and equipment (24) 16
----------- -----------
Total operating expenses 259,741 240,249
----------- -----------
Equity in earnings of
unconsolidated affiliates 18,619 16,527
----------- -----------
INCOME FROM OPERATIONS 23,040 27,680
OTHER EXPENSES:
Interest expense 16,222 30,097
Loss on extinguishment and
modification of debt 1,053 -
----------- -----------
Total other expenses 17,275 30,097
----------- -----------
INCOME (LOSS) BEFORE INCOME TAXES 5,765 (2,417)
Income tax provision 3,020 4,809
NET INCOME (LOSS) AND COMPREHENSIVE
INCOME (LOSS) $ 2,745 $ (7,226)
=========== ===========
Weighted average shares outstanding:
Basic 95,983,246 69,526,574
Diluted 96,039,426 69,526,574
Net income (loss) per common share
Basic $ 0.03 $ (0.10)
Diluted $ 0.03 $ (0.10)
LUMEXA IMAGING HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE INCOME (LOSS)
(IN THOUSANDS, EXCEPT FOR SHARE AND PER SHARE DATA)
(Unaudited)
Six Months Ended June 30,
-------------------------------
2026 2025
REVENUES:
Net patient service revenue $ 401,053 $ 390,483
Management fee and other revenue 115,646 105,920
----------- ----------
Total revenues 516,699 496,403
OPERATING EXPENSES:
Cost of operations, excluding
depreciation and amortization 443,040 420,662
General and administrative expenses 44,732 36,181
Depreciation and amortization 20,005 18,330
(Gain) loss on disposal of property
and equipment 113 (146)
----------- ----------
Total operating expenses 507,890 475,027
----------- ----------
Equity in earnings of unconsolidated
affiliates 33,643 31,845
----------- ----------
INCOME FROM OPERATIONS 42,452 53,221
OTHER EXPENSES:
Interest expense 32,553 59,946
Loss on extinguishment and
modification of debt 1,053 -
----------- ----------
Total other expenses 33,606 59,946
----------- ----------
INCOME (LOSS) BEFORE INCOME TAXES 8,846 (6,725)
Income tax provision 4,384 8,188
NET INCOME (LOSS) AND COMPREHENSIVE
INCOME (LOSS) $ 4,462 $ (14,913)
=========== ==========
Weighted average shares outstanding:
Basic 95,983,240 69,524,980
Diluted 96,011,335 69,524,980
Net income (loss) per common share
Basic $ 0.05 $ (0.21)
Diluted $ 0.05 $ (0.21)
LUMEXA IMAGING HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(IN THOUSANDS)
(Unaudited)
Six Months Ended June 30,
---------------------------------
2026 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss) $ 4,462 $ (14,913)
Adjustments to reconcile net income
(loss) to net cash provided by
operating activities
Depreciation and amortization 20,005 18,330
Amortization of operating lease
right-of-use assets 7,956 7,424
Amortization of debt issuance costs 1,437 2,871
Amortization of cloud computing
implementation costs 760 184
Write-off of debt issuance costs
related to extinguishment of debt 46 -
Equity in earnings of unconsolidated
affiliates (33,643) (31,845)
Distributions from investments in
unconsolidated affiliates 36,869 32,820
Loss on disposal of property and
equipment 113 (146)
Deferred income taxes 2,820 1,477
Stock-based compensation 25,011 14,720
Other (535) -
Changes in operating assets and
liabilities:
Accounts receivable (7,695) (6,870)
Accounts receivable, related party (1,131) (2,035)
Capitalized cloud computing
implementation costs (1,647) (1,421)
Other receivables (12,537) (5,410)
Prepaid expenses 3,034 (7,028)
Other assets (4,723) (11,311)
Accounts payable (18,596) 1,214
Accrued expenses and other current
liabilities 18,085 (11,002)
Other liabilities 3,798 7,018
Operating lease liabilities (8,156) (5,966)
---------- ---------
Net cash provided by (used in)
operating activities 35,733 (11,889)
---------- ---------
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sale or disposal of
property and equipment 40 713
Acquisition of intangible asset (600) -
Purchases of property and equipment (14,985) (5,602)
Contributions to investments in
unconsolidated affiliates (3,366) -
Net cash used in investing
activities (18,911) (4,889)
---------- ---------
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of third-party debt issuance
costs (154) -
Proceeds from long-term debt 9,536 496
Payments of long-term debt (8,393) (7,821)
Proceeds from revolving line of
credit - 5,000
Payments of finance lease liabilities (6,602) (2,998)
Capital contributions - 715
Repayments on accounts receivable
pledging arrangement (332) -
---------- ---------
Net cash used in financing
activities (5,945) (4,608)
---------- ---------
NET INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS 10,877 (21,386)
CASH AND CASH EQUIVALENTS, beginning of
period 58,828 26,131
---------- ---------
CASH AND CASH EQUIVALENTS, end of
period $ 69,705 $ 4,745
========== =========
LUMEXA IMAGING HOLDINGS, INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP NET INCOME (LOSS) TO ADJUSTED
EBITDA
(IN THOUSANDS)
(Unaudited)
Three Months Ended June 30,
2026 2025
Net income (loss) $ 2,745 $ (7,226)
Depreciation and amortization 10,083 9,279
Income tax provision 3,020 4,809
Amortization of basis difference 573 500
Interest expense 16,222 30,097
Stock-based compensation 12,737 8,346
Loss on extinguishment and
modification of debt 1,053 -
Loss (gain) on disposal of
property and equipment (24) 16
Severance and executive
recruiting((1) 686 803
Strategic initiatives and
implementation((2) 2,659 1,018
Transaction costs((3) 707 3,875
Litigation and settlements((4) 1,173 -
Other((5) 87 142
Adjustments for equity in earnings
of unconsolidated
affiliates((6) 4,724 4,615
Adjusted EBITDA $ 56,445 $ 56,274
=========== ==========
((1) Includes severance and recruiting expenses for
executive leadership departures as part of strategic
organizational changes.
((2) Includes third-party consulting, implementation,
and integration expenses incurred as part of our strategic
transformation and optimization initiatives, specifically
related to the deployment of a new technology system
and labor model, as well as the development, customization,
and integration of a new enterprise resource planning
system.
((3) Includes costs for third party non-recurring
IPO costs, buy-side and sell-side due diligence activities
to evaluate and execute potential mergers and acquisitions,
integrate acquired businesses and one-time employee
retention bonuses related to potential mergers and
acquisitions.
((4) Consists of litigation and settlement costs for
matters not related to core operations.
(5) Consists of other costs related to debt financing,
certain de novo start-up costs related to outpatient
imaging centers and certain exit costs related to
closed outpatient imaging centers.
(6) To adjust for Lumexa Imaging's proportional share
of depreciation and amortization, interest expense
and losses/gains on asset disposals, which are included
in equity in earnings from unconsolidated affiliates.
LUMEXA IMAGING HOLDINGS, INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP NET INCOME (LOSS) TO ADJUSTED
EBITDA
(IN THOUSANDS)
(Unaudited)
Six Months Ended June 30,
2026 2025
Net income (loss) $ 4,462 $ (14,913)
Depreciation and amortization 20,005 18,330
Income tax provision 4,384 8,188
Amortization of basis difference 1,105 1,000
Interest expense 32,553 59,946
Stock-based compensation 25,011 14,720
Loss on extinguishment and
modification of debt 1,053 -
Loss (gain) on disposal of property
and equipment 113 (146)
Severance and executive recruiting((1) 1,631 2,173
Strategic initiatives and
implementation((2) 3,484 1,886
Transaction costs((3) 3,289 7,464
Litigation and settlements((4) 1,202 (128)
Other((5) 82 158
Adjustments for equity in earnings
of unconsolidated affiliates((6) 9,270 8,596
Adjusted EBITDA $ 107,644 $ 107,274
=========== ==========
((1) Includes severance and recruiting expenses for
executive leadership departures as part of strategic
organizational changes.
((2) Includes third-party consulting, implementation,
and integration expenses incurred as part of our strategic
transformation and optimization initiatives, specifically
related to the deployment of a new technology system
and labor model, as well as the development, customization,
and integration of a new enterprise resource planning
system.
((3) Includes costs for third party non-recurring
IPO costs, buy-side and sell-side due diligence activities
to evaluate and execute potential mergers and acquisitions,
integrate acquired businesses and one-time employee
retention bonuses related to potential mergers and
acquisitions.
((4) Consists of litigation and settlement costs for
matters not related to core operations.
(5) Consists of other costs related to debt financing,
certain de novo start-up costs related to outpatient
imaging centers and certain exit costs related to
closed outpatient imaging centers.
(6) To adjust for Lumexa Imaging's proportional share
of depreciation and amortization, interest expense
and losses/gains on asset disposals, which are included
in equity in earnings from unconsolidated affiliates.
LUMEXA IMAGING HOLDINGS, INC. AND SUBSIDIARIES
SCHEDULE OF ADJUSTED EARNINGS AND EARNINGS PER SHARE
(IN THOUSANDS, EXCEPT PER SHARE DATA)
(Unaudited)
Three Months Ended June 30,
2026 2025
Net income (loss) $ 2,745 $ (7,226)
Stock-based compensation 12,737 8,346
Loss (gain) on disposal of
property and equipment (24) 16
Loss on extinguishment and
modification of debt 1,053 -
Severance and executive
recruiting((1) 686 803
Strategic initiatives and
implementation((2) 2,659 1,018
Transaction costs((3) 707 3,875
Litigation and settlements((4) 1,173 -
Other((5) 87 142
Adjustments for equity in earnings
of unconsolidated
affiliates((6) 199 81
Total adjustments 19,277 14,281
Tax impact of adjustments((7) (2,493) (1,484)
Adjusted net income $ 19,529 $ 5,571
=========== ===========
Weighted average shares outstanding
Basic 95,983,246 69,526,574
Diluted 96,039,426 69,526,574
Adjusted basic net income per share $ 0.20 $ 0.08
Adjusted diluted net income per share $ 0.20 $ 0.08
((1) Includes severance and recruiting expenses for
executive leadership departures as part of strategic
organizational changes.
((2) Includes third-party consulting, implementation,
and integration expenses incurred as part of our strategic
transformation and optimization initiatives, specifically
related to the deployment of a new technology system
and labor model, as well as the development, customization,
and integration of a new enterprise resource planning
system.
((3) Includes costs for third party non-recurring
IPO costs, buy-side and sell-side due diligence activities
to evaluate and execute potential mergers and acquisitions,
integrate acquired businesses and one-time employee
retention bonuses related to potential mergers and
acquisitions.
((4) Consists of litigation and settlement costs for
matters not related to core operations.
(5) Consists of other costs related to debt financing,
certain de novo start-up costs related to outpatient
imaging centers and certain exit costs related to
closed outpatient imaging centers.
(6) To adjust for Lumexa Imaging's proportional share
of losses/gains on asset disposals, which are included
in equity in earnings from unconsolidated affiliates.
(7) Tax effected adjustments using blended federal
and state effective income tax rate.
LUMEXA IMAGING HOLDINGS, INC. AND SUBSIDIARIES
SCHEDULE OF ADJUSTED EARNINGS AND EARNINGS PER SHARE
(IN THOUSANDS, EXCEPT PER SHARE DATA)
(Unaudited)
Six Months Ended June 30,
--------------------------------
2026 2025
Net income (loss) $ 4,462 $ (14,913)
---------- ----------
Stock-based compensation 25,011 14,720
Loss (gain) on disposal of
property and equipment 113 (146)
Loss on extinguishment and
modification of debt 1,053 -
Severance and executive
recruiting((1) 1,631 2,173
Strategic initiatives and
implementation((2) 3,484 1,886
Transaction costs((3) 3,289 7,464
Litigation and settlements((4) 1,202 (128)
Other((5) 82 158
Adjustments for equity in earnings
of unconsolidated
affiliates((6) 595 54
---------- ----------
Total adjustments 36,460 26,181
Tax impact of adjustments((7) (4,461) (2,865)
Adjusted net income $ 36,461 $ 8,403
========== ==========
Weighted average shares outstanding
Basic 95,983,240 69,524,980
Diluted 96,011,335 69,524,980
Adjusted basic net income per share $ 0.38 $ 0.12
Adjusted diluted net income per share $ 0.38 $ 0.12
((1) Includes severance and recruiting expenses for
executive leadership departures as part of strategic
organizational changes.
((2) Includes third-party consulting, implementation,
and integration expenses incurred as part of our strategic
transformation and optimization initiatives, specifically
related to the deployment of a new technology system
and labor model, as well as the development, customization,
and integration of a new enterprise resource planning
system.
((3) Includes costs for third party non-recurring
IPO costs, buy-side and sell-side due diligence activities
to evaluate and execute potential mergers and acquisitions,
integrate acquired businesses and one-time employee
retention bonuses related to potential mergers and
acquisitions.
((4) Consists of litigation and settlement costs for
matters not related to core operations.
(5) Consists of other costs related to debt financing,
certain de novo start-up costs related to outpatient
imaging centers and certain exit costs related to
closed outpatient imaging centers.
(6) To adjust for Lumexa Imaging's proportional share
of losses/gains on asset disposals, which are included
in equity in earnings from unconsolidated affiliates.
(7) Tax effected adjustments using blended federal
and state effective income tax rate.
LUMEXA IMAGING HOLDINGS, INC. AND SUBSIDIARIES
DETAILS OF MANAGEMENT FEE AND OTHER REVENUES
(IN THOUSANDS)
(Unaudited)
Three Months Ended June 30,
---------------------------------
2026 2025
---------------- ---------------
Components of "management fee and other
revenues:"
Fees for managing joint ventured
outpatient sites and other third
party services $ 26,103 $ 20,578
Zero margin pass-throughs of employee,
IT and other site level costs paid by
Lumexa 34,324 32,639
------------ -----------
Total revenues $ 60,427 $ 53,217
============ ===========
Six Months Ended June 30,
---------------------------------
2026 2025
---------------- ---------------
Components of "management fee and other
revenues:"
Fees for managing joint ventured
outpatient sites and other third
party services $ 47,601 $ 40,654
Zero margin pass-throughs of employee,
IT and other site level costs paid by
Lumexa 68,045 65,266
------------ -----------
Total revenues $ 115,646 $ 105,920
============ ===========
LUMEXA IMAGING HOLDINGS, INC. AND SUBSIDIARIES
SEGMENT REVENUES
(IN THOUSANDS)
(Unaudited)
THREE MONTHS ENDED JUNE 30, 2026
------------------------------------------------------------
TOTAL OF
INTERSEGMENT REPORTABLE
OUTPATIENT PROFESSIONAL ELIMINATIONS SEGMENTS
------------ -------------- --------------- -------------
Revenue
Net patient
service
revenue $ 143,747 $ 64,280 $ (4,292) $ 203,735
Management fee
and other
revenue 52,462 7,965 - 60,427
----------
Total revenues $ 196,209 $ 72,245 $ (4,292) $ 264,162
======== ========== ========== =========