| 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, which we acquired on June 1, 2018 and
Big South Fork Medical Center, which began operations on August 8, 2017. |
| |
● |
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.
The
Company’s Decision Support and Informatics segment and its Supportive Software Solutions segment are now included in discontinued
operations as they have been classified as held for sale as of December 31, 2018. The accounting policies of the reportable segments
are the same as those described in Note 2.
Selected
financial information for the Company’s operating segments is as follows:
| |
|
|
Year Ended December 31, |
|
| |
|
|
2018 |
|
|
|
2017 |
|
| Net revenues - External |
|
|
|
|
|
|
|
|
| Clinical
Laboratory Operations |
|
$ |
131,014 |
|
|
$ |
2,210,318 |
|
| Hospital
Operations |
|
|
14,417,676 |
|
|
|
877,898 |
|
| |
|
$ |
14,548,690 |
|
|
$ |
3,088,216 |
|
| Loss from operations |
|
|
|
|
|
|
|
|
| Clinical Laboratory
Operations |
|
$ |
(2,247,499 |
) |
|
$ |
(4,672,768 |
) |
| Hospital Operations |
|
|
(6,434,538 |
) |
|
|
(4,800,539 |
) |
| Corporate |
|
|
(4,542,583 |
) |
|
|
(6,602,800 |
) |
| |
|
$ |
(13,224,620 |
) |
|
$ |
(16,076,107 |
) |
| Depreciation and amortization |
|
|
|
|
|
|
|
|
| Clinical Laboratory
Operations |
|
$ |
764,445 |
|
|
$ |
1,639,954 |
|
| Hospital Operations |
|
|
498,352 |
|
|
|
73,985 |
|
| Corporate |
|
|
1,047 |
|
|
|
1,382 |
|
| |
|
$ |
1,263,844 |
|
|
$ |
1,715,321 |
|
| Capital expenditures |
|
|
|
|
|
|
|
|
| Clinical Laboratory
Operations |
|
$ |
- |
|
|
$ |
- |
|
| Hospital
Operations |
|
|
213,105 |
|
|
|
1,422,002 |
|
| |
|
$ |
213,105 |
|
|
$ |
1,422,002 |
|
| |
|
Year
Ended December 31, |
|
| |
|
2018 |
|
|
2017 |
|
| Total assets |
|
|
|
|
|
|
|
|
| Clinical
Laboratory Operations |
|
$ |
271,426 |
|
|
$ |
1,503,520 |
|
| Hospital Operations |
|
|
13,568,933 |
|
|
|
2,549,504 |
|
| Corporate |
|
|
2,707,416 |
|
|
|
3,436,773 |
|
| Assets of AMSG and
HTS classified as held for sale |
|
|
152,171 |
|
|
|
255,566 |
|
| Eliminations |
|
|
(2,500,646 |
) |
|
|
(1,454,570 |
) |
| |
|
$ |
14,199,300 |
|
|
$ |
6,290,794 |
|
|