XML 26 R11.htm IDEA: XBRL DOCUMENT v2.4.0.8
Broward Oncology Partners
3 Months Ended
Mar. 31, 2014
Broward Oncology Partners [Abstract]  
Broward Oncology Partners
Note F – Broward Oncology Partners

In early 2013, the Company formed Broward Oncology Partners, LLC ("BROP") with other outside investors. The Company invested $50,000 for a 12.5% ownership interest in BROP.  BROP operates a radiation oncology center in Fort Lauderdale, Florida under a lease from Tenet Health Services. BROP began operations in February 2013.  The facility is undergoing renovation and continues to operate on a limited basis during construction.

The Company's recorded investment in BROP is $67,000 and $35,000 at March 31, 2014 and December 31, 2013 respectively. The Company accounts for this investment under the equity method since it exercises significant influence over BROP.  Amounts due from BROP included in due from related parties total $67,000 and $63,000 at March 31, 2014 and December 31, 2013 respectively.

In May 2014, the Company and other members sold their interests in BROP. The Company is in the process of determining any gain or loss arising on disposal.

The following tables present the summarized financial information of BROP:

BROP Condensed Income Statement Information

 
 
Three Months Ended
 
 
 
March 31,
  
 
 
 
2014
  
2013
 
 
 
  
 
Patient revenue
 
$
505,000
  
$
-
 
 
        
Net income
 
$
255,000
  
$
-
 
 
        
USNC's equity in income in BROP
 
$
32,000
  
$
-
 

BROP Condensed Balance Sheet Information

 
 
March 31,
  
December 31,
 
 
 
2014
  
2013
 
 
 
  
 
Current assets
 
$
749,000
  
$
360,000
 
 
        
Noncurrent assets
  
282,000
   
239,000
 
 
        
Total assets
 
$
1,031,000
  
$
599,000
 
 
        
Current liabilities
 
$
496,000
  
$
319,000
 
 
        
Equity
  
535,000
   
280,000
 
 
        
Total liabilities and equity
 
$
1,031,000
  
$
599,000