Note 11 - Related Party Transactions

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

NOTE 11 – 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. 

The following summarizes related party activity for the years ended  December 31, 2022 and 2021:

	December 31,
	2022		2021
Equipment purchases and de-install costs	$	1,844,000	$	1,906,000
Costs incurred to maintain equipment		1,094,000		759,000
Total related party transactions	$	2,938,000	$	2,665,000

The Company also had related party commitments to purchase one Icon, install four Icon upgrades, purchase two Gamma Plan workstations, purchase two LINACs, and service the related equipment of $17,407,000 as of  December 31, 2022.

Related party liabilities on the consolidated balance sheets consist of the following as of December 31, 2022 and 2021:

	December 31,
	2022		2021
Accounts payable and other accrued liabilities	$	497,000	$	1,992,000