Salick Health Care reported a net loss of $3.3 million, or 30 cents per share, for its third quarter ended May 31, compared with net income of $2.6 million, or 28 cents per share, in the year-ago quarter. Net operating revenues rose 13% to $38.8 million. For the nine months, net income fell 67% to $2.5 million, or 25 cents per share, from net income of $7.6 million, or 80 cents per share, in the year-ago period. Revenues grew 17% to $112.7 million. Los Angeles-based Salick said the results included a nonrecurring merger transaction expense of $6.9 million for the third quarter and $7.4 million for the nine months from the company's April merger with Zeneca Group. Those charges, plus the issuance of an additional 430,000 shares of common stock, adversely affected net income and income per share. The company operates 10 cancer-treatment centers and several outpatient dialysis centers.
Premier Health Alliance has tapped Pleasanton, Calif.-based Nellcor, which makes pulse oximeters and other patient-monitoring products, as the final vendor in its new committed buying program. Other purchasing groups are experimenting with similar programs. Hospitals in the Premier program will receive lower prices for buying at least 80% of applicable products from vendors under five national contracts. Westchester, Ill.-based Premier named four of the vendors earlier this year (Feb. 13, p. 14). Premier hospitals that aren't participating in the committed buying program will continue to purchase products from Nellcor under previous contract terms.
Nationwide Health Properties has completed $74.1 million in investments in 13 long-term-care facilities. The Newport Beach, Calif.-based real estate investment trust acquired 10 assisted-living facilities with a total of 1,028 units for $52.6 million. The facilities are located in five states and are leased to ARV Assisted Living, Costa Mesa, Calif.; Liberty Healthcare, Atlanta; and the Meadowcroft Group, Toronto. The company also provided $21.5 million in mortgage financing on two nursing homes and a continuing-care facility operated by CareAge, Edmonds, Wash.; CMI Senior Concepts, Weston, Mass.; and Southern Care Centers, Atlanta. NHP has investments in 191 healthcare facilities in 30 states.