Nu-Med Posts Quarterly Loss of $3.5 Million
Nu-Med Inc., an Encino operator of hospitals and other health-care facilities, reported a $3.5-million loss for its fiscal third quarter, identical to the loss it posted a year earlier.
The latest loss in the quarter ended Jan. 31 came on a 14% decline in Nu-Med’s revenue, to $61 million from $71.2 million. Nu-Med blamed the loss on restrained reimbursements for its services from government and private health-care plans.
For the first nine months of its fiscal year, Nu-Med lost $5.87 million compared with a year-earlier loss of $5.35 million. Its nine-month revenue fell to $188 million from $210.7 million.