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The Southern California Regional Gamma Knife Center
 6 Months Ended
Jun. 30, 2023
The Southern California Regional Gamma Knife Center [Abstract]  
The Southern California Regional Gamma Knife Center
Note B – The Southern California Regional Gamma Knife Center
 

During 2007, the Company, through a noncontrolling interest in joint ventures, managed the formation of the Southern California Regional Gamma Knife Center at San Antonio Regional Hospital (“SARH”) in Upland, California.  Corona Gamma Knife, LLC (“CGK”) is party to a 14-year agreement with SARH to renovate space in the hospital and install and operate a Leksell PERFEXION gamma knife.  CGK leases the gamma knife from NeuroPartners LLC, which holds the gamma knife equipment.  In addition to returns on its ownership interests, USNC expects to receive fees for management services relating to the facility.
 

USNC is a 20% owner of NeuroPartners LLC and owns 39% of CGK.
  

Construction of the SARH gamma knife center was completed in December 2008 and the first patient was treated in January 2009.  The project has been funded principally by outside investors.  While the Company, through its joint ventures, has led the effort in organizing the business and overseeing the development and operation of the SARH center, its investment to date in the SARH center has been minimal.
 

At June 30, 2023, and December 31, 2022, the Company had no recorded investment of NeuroPartners LLC and CGK. For the six months ended June 30, 2023, and 2022, the Company’s equity in loss of NeuroPartners LLC and CGK was $63,000 and $5,000, respectively, but was not recorded due to prior losses, resulting in no recorded investment at June 30, 2023, and December 31, 2022. At June 30, 2023, and December 31, 2022, amounts due from related parties was $0 and $47,000, respectively.


The SARH gamma knife center treated its last patients during the second quarter of 2023, and the Company is currently in negotiations with the hospital center and a removal company for the removal of the equipment from the SARH center. It is estimated it will cost approximately $600,000.


The following tables present the aggregation of summarized financial information of NeuroPartners LLC and CGK:
 

NeuroPartners LLC and CGK Condensed Combined Income Statement Information
 
   
Six Months Ended
 
    June 30,  
   
2023
    
2022
  
             
Patient revenue
  
$
136,000
    
$
170,000
  
                 
Net loss
 
$
(75,000
)
  
$
8,000
  
                 
USNC’s equity in (loss) earnings of NeuroPartners LLC and CGK
  
$
(63,000
)
  
$
(5,000
)
 
   
Three Months Ended
 
    June 30,  
   
2023
   
2022
 
             
Patient Revenue
  
$
40,000
    
$
277,000
  
                 
Net loss
 
$
(38,000
)
  
$
(27,000
)
                 
USNC’s equity in earnings of NeuroPartners, LLC and CGK
  
$
(37,000
)
  
$
(28,000
)

NeuroPartners LLC and CGK Condensed Combined Balance Sheet Information
   
June 30,
    
December 31,
  
    2023     2022  
             
Current assets
  
$
363,000
    
$
375,000
  
                 
Noncurrent assets
    
-
      
42,000
  
                 
Total assets
  
$
363,000
    
$
417,000
  
                 
Current liabilities
  
$
653,000
    
$
632,000
  
                 
Noncurrent liabilities
     -       -  
                 
Equity
    
(290,000
)
    
(215,000
)
                 
Total liabilities and equity
  
$
363,000
    
$
417,000