Note 11 - Related Party Transactions

12 Months Ended

Dec. 31, 2023

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 and other radiation therapy equipment. Since the Company purchases the majority of its equipment 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, 2023 and 2022:

	December 31,
	2023		2022
Equipment purchases and de-install costs	$	6,918,000	$	1,844,000
Costs incurred to maintain equipment		851,000		1,094,000
Total related party transactions	$	7,769,000	$	2,938,000

The Company had related party commitments to install three Esprit upgrades, one Cobalt-60 reload, purchase one MR LINAC, purchase one Gamma Plan workstation, and service the related equipment. The Company also has two commitments to de-install Gamma Knife units at existing customer sites. Total related party commitments were $18,968,000 as of  December 31, 2023.

Related party liabilities on the consolidated balance sheets consist of the following as of December 31, 2023 and 2022:

	December 31,
	2023		2022
Accounts payable and other accrued liabilities	$	1,961,000	$	497,000