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Equity Investments in Affiliates (Tables)
6 Months Ended
Jun. 30, 2016
Investments In And Advances To Affiliates Schedule Of Investments [Abstract]  
Summary of Equity Investments and Ownership Interests

The Company invests in non-majority interests in its Affiliates.  The Company’s equity investments and respective ownership interest as of June 30, 2016 and December 31, 2015 are as follows:

 

 

 

 

 

Ownership %

 

 

 

 

 

June 30,

 

 

December 31,

 

Affiliate

 

Location

 

2016

 

 

2015

 

Surgical Hospitals:

 

 

 

 

 

 

 

 

 

 

Summit Medical Center

 

Edmond, OK

 

 

0%

 

 

 

8%

 

ASCs:

 

 

 

 

 

 

 

 

 

 

Foundation Surgery Affiliate of Nacogdoches, LLP

 

Nacogdoches, TX

 

 

13%

 

 

 

13%

 

Park Ten Surgery Center/Physicians West Houston

 

Houston, TX

 

 

10%

 

 

 

10%

 

Foundation Surgery Affiliate of Middleburg Heights, LLC

 

Middleburg Heights, OH

 

 

10%

 

 

 

10%

 

Foundation Surgery Affiliate of Huntingdon Valley, LP

 

Huntingdon Valley, PA

 

 

20%

 

 

 

20%

 

New Jersey Surgery Center, LLC

 

Mercerville, NJ

 

 

10%

 

 

 

10%

 

Foundation Surgery Affiliate of Northwest Oklahoma City, LLC

 

Oklahoma City, OK

 

 

20%

 

 

 

20%

 

Cumberland Valley Surgery Center, LLC

 

Hagerstown, MD

 

 

34%

 

 

 

34%

 

Frederick Surgical Center, LLC

 

Frederick, MD

 

 

20%

 

 

 

20%

 

 

Summary of Unaudited Results of Operations and Financial Position of Equity Investments in Affiliates

The results of operations for the six months ended June 30, 2016 and 2015, of the Company’s equity investments in Affiliates are as follows:

 

 

 

2016

 

 

2015

 

Net operating revenues

 

$

23,035,340

 

 

$

24,990,428

 

Net income

 

$

6,027,677

 

 

$

6,159,449

 

The results of financial position as of June 30, 2016 and December 31, 2015, of the Company’s equity investments in Affiliates are as follows:

 

 

 

June 30,

 

 

December 31,

 

 

 

2016

 

 

2015

 

Current assets

 

$

9,969,648

 

 

$

12,371,752

 

Noncurrent assets

 

 

5,817,247

 

 

 

7,699,093

 

Total assets

 

$

15,786,895

 

 

$

20,070,845

 

Current liabilities

 

$

3,833,829

 

 

$

4,240,326

 

Noncurrent liabilities

 

 

1,540,610

 

 

 

2,266,793

 

Total liabilities

 

$

5,374,439

 

 

$

6,507,119

 

Members' equity

 

$

10,412,456

 

 

$

13,563,726