Note 14 - Related Party Transactions

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

NOTE 14 – RELATED PARTY TRANSACTIONS

The Company’s Gamma Knife business is operated through its 81% indirect interest in its GKF subsidiary. The remaining 19% of GKF is owned by a wholly owned U.S. subsidiary of Elekta, which is the manufacturer of the Gamma Knife. Since the Company purchases its Gamma Knife units from Elekta, there are significant related party transactions with Elekta such as equipment purchases, commitments to purchase and service equipment, and costs to maintain the equipment. During the years ended  December 31, 2021 and 2020, related party transactions for equipment purchases were $1,906,000 and $1,103,000 and costs incurred to maintain equipment were $759,000 and $701,000, respectively.  The Company also had commitments to purchase one Icon, install four Icon upgrades and service the related equipment of $6,624,000 and $8,397,000 as of  December 31, 2021 and 2020, respectively.  See Note 13 – Commitments and Contingencies for further discussion on commitments. At December 31, 2021, the Company owed Elekta approximately $1,992,000 for the Cobalt-60 reload completed in the fourth quarter, software, contract maintenance, and de-install costs.  At December 31, 2020, The Company owed Elekta approximately $1,382,000 for parts, contract maintenance and de-install costs. The Company believes that all its transactions with Elekta are arm’s-length transactions.