Rx Medical Services’ Earnings Double : Growth: The company, which acquired 13 medical facilities last year, also reported a fivefold increase in revenue in the second quarter.

Rx Medical Services Corp., a company that has been aggressively acquiring medical testing laboratories, said that its earnings doubled and its revenue increased fivefold during the second quarter.

The Newport Beach firm reported net income of $210,924 on sales of $3.9 million in the period ended June 30, compared to earnings of $121,812 on sales of $708,196 during the same period last year.

“It’s a combination of internal growth through sales as well as acquisitions either through stock exchange or cash,” Daniel B. Kinsey, the company’s general counsel, said Thursday.

Since 1990, Rx has acquired 16 medical facilities, 13 of them last year, Kinsey said. Most of the acquisitions were done through an exchange of company stock, he said. Pending are three more acquisitions, he said.

“We are very aggressive in expanding sales of our existing facilities, and we’re actively pursuing and acquiring additional facilities,” Kinsey said.

But the company’s buying binges come at a price: Its debt rose from just $2 million in 1990 to $22 million today.

Earnings for the first six months reached $318,545 on sales of $7.77 million. This is up from earnings of $108,988 on sales of $1.35 million in the first half of 1990.

The 240-employee company has laboratories in four states--California, Arizona, Florida and Louisiana--most of which provide CAT scan services as well as magnetic resonance imaging for doctors. Its holdings include residential properties in Southern California and undeveloped real estate in Utah.

Rx started off as ARM Financial Corp. in Carlsbad. Kinsey said the company changed its name to Rx when officers of the company decided to focus on providing medical testing services to doctors. The company offered its stock to the public in May, 1990, and moved its headquarters to Newport Beach in December.