Note 10 - Related Party Transactions and Balances

6 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

Note 10.    Related Party Transactions and Balances

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 Company’s operating lease in Woonsocket, Rhode Island is with a related party.  See Note 5 - Leases to the condensed consolidated financial statements for further discussion. 

The following table summarizes related party activity for the three and six-month periods ended June 30, 2024 and 2023:

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Equipment purchases and de-install costs	$	521,000	$	1,217,000	$	2,937,000	$	1,418,000
Costs incurred to maintain equipment		170,000		295,000		340,000		590,000
Total related party transactions	$	691,000	$	1,512,000	$	3,277,000	$	2,008,000

The Company also had commitments to purchase and install five Esprit units, purchase two LINACs and service the related equipment of $21,479,000 as of   June 30, 2024.  

Related party liabilities on the condensed consolidated balance sheets consist of the following as of  June 30, 2024 and December 31, 2023

	June 30,		December 31,
	2024		2023
Accounts payable, asset retirement obligation and other accrued liabilities	$	1,675,000	$	2,361,000