Annual report pursuant to Section 13 and 15(d)

Segment Reporting

v3.20.1
Segment Reporting
12 Months Ended
Dec. 31, 2019
Segment Reporting [Abstract]  
Segment Reporting

Note 17– Segment Reporting

 

Operating segments are defined under U.S. GAAP as components of an enterprise for which discrete financial information is available and are evaluated regularly by the enterprise’s chief operating decision maker in determining how to allocate resources and assess performance. The Company operates in two reportable business segments:

 

  Hospital Operations, which reflects the operations of Jamestown Regional Medical Center, Big South Fork Medical Center and Jellico Community Hospital and CarePlus Center.
     
  Clinical Laboratory Operations, which specializes in providing urine and blood toxicology and pain medication testing to physicians, clinics and rehabilitation facilities in the United States.

 

The Company’s Corporate expenses reflect consolidated company wide support services such as finance, legal counsel, human resources, and payroll.

 

Selected financial information for the Company’s operating segments is as follows:

 

    Year Ended December 31,  
    2019     2018  
Net revenues - External                
Hospital Operations   $ 15,927,983     $ 14,417,676  
Clinical Laboratory Operations     58,941       131,014  
    $ 15,986,924     $ 14,548,690  
Loss from operations                
Hospital Operations   $ (11,060,401 )   $ (6,434,538 )
Clinical Laborabory Operations     (1,061,145 )     (2,247,499 )
Corporate     (4,209,378 )     (4,542,583 )
    $ (16,330,924 )   $ (13,224,620 )
Depreciation and amortization                
Hospital Operations   $ 715,286     $ 498,352  
Clinical Laboratory Operations     79,232       764,445  
Corporate     683       1,047  
    $ 795,201     $ 1,263,844  
Capital expenditures                
Hospital Operations   $ 127     $ 213,105  
Clinical Laboratory Operations     -       -  
    $ 127     $ 213,105  

 

    Year Ended December 31,  
    2019     2018  
Total assets                
Hospital Operations   $ 14,275,256     $ 13,568,933  
Clinical Laboratory Operations     330,381       271,426  
Corporate     2,305,380       2,707,416  
Assets of AMSG and HTS classified as held for sale     514,772       152,171  
Eliminations     (2,718,130 )     (2,500,646 )
    $ 14,707,659     $ 14,199,300