IntegraMed America Inc. (INMD, Financial) filed Quarterly Report for the period ended 2009-09-30.
IntegraMed America, Inc. is a physician practice management company which provides comprehensive management support services to a network of medical providers of women's health care services. The Company's objective is to create and manage a nationwide Network of medical providers of specialty women's health care services that achieves high quality clinical outcomes with maximum cost effectiveness. Integramed America Inc. has a market cap of $71.08 million; its shares were traded at around $8.1 with a P/E ratio of 16.2 and P/S ratio of 0.36. Integramed America Inc. had an annual average earning growth of 23.5% over the past 5 years.
For the three months ended September 30, 2009, total revenues of $53.6 million increased approximately $1.4 million, or 2.6%, from the same period in 2008. Revenue at our Vein Clinics Division was up approximately $2.3 million based on higher volume. Fertility Centers revenue was $0.5 million below the same period in 2008 principally as a result of a previously announced contract loss at one of our larger centers, and our Consumer Services segment reported a slight decrease in revenue of $0.4 million as a result of lower clinical outcomes in the third quarter of 2009 versus the prior year.
For the nine months ended September 30, 2009, total revenues of $162.1 million increased approximately $14.1 million, or 9.6%, from the same period in 2008. Approximately $8.0 million of this increase was generated by our Vein Clinics Division, $5.2 million from our Fertility Centers Division and $0.9 million from our Consumer Services Division.
During the third quarter of 2009, Fertility Center revenues decreased by $0.5 million or 1.5% from the same period in 2008. This reduction was the result of a $0.1 million increase in service fees offset by a $0.6 million reduction in pass-through reimbursed costs within the division. The other major factor influencing this variance is the contract loss discussed above. During the first nine months of 2009, Fertility Center revenues increased by $5.2 million, or 5.0%, relative to the same period in the prior year. This increase was the result of service fees assessed on a 4.5% rise in same-center patient revenue as well as a comparable 4.2% rise in clinic contribution.
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IntegraMed America, Inc. is a physician practice management company which provides comprehensive management support services to a network of medical providers of women's health care services. The Company's objective is to create and manage a nationwide Network of medical providers of specialty women's health care services that achieves high quality clinical outcomes with maximum cost effectiveness. Integramed America Inc. has a market cap of $71.08 million; its shares were traded at around $8.1 with a P/E ratio of 16.2 and P/S ratio of 0.36. Integramed America Inc. had an annual average earning growth of 23.5% over the past 5 years.
Highlight of Business Operations:
Also on August 8, 2007, we entered into an amended credit agreement with Bank of America, N.A. (“Bank of America”). The new term loan under the amended credit agreement is in the amount of $25 million (the proceeds of which were applied to repay our original term loan and finance, in part, the VCA transaction). Interest on the new term loan is, at our option, at the prime rate less up to 0.50% or at LIBOR plus 2.00% to 2.75%, depending upon the level of the ratio of consolidated debt to earnings before interest, taxes depreciation and amortization (“EBITDA”). The amended credit agreement also contains provisions for a revolving line of credit in the amount of $10 million. Interest on the revolving line of credit is at the prime rate less up to 0.50% or at LIBOR plus 1.5% to 2.5%, depending on the level of the ratio of consolidated debt to EBITDA.For the three months ended September 30, 2009, total revenues of $53.6 million increased approximately $1.4 million, or 2.6%, from the same period in 2008. Revenue at our Vein Clinics Division was up approximately $2.3 million based on higher volume. Fertility Centers revenue was $0.5 million below the same period in 2008 principally as a result of a previously announced contract loss at one of our larger centers, and our Consumer Services segment reported a slight decrease in revenue of $0.4 million as a result of lower clinical outcomes in the third quarter of 2009 versus the prior year.
For the nine months ended September 30, 2009, total revenues of $162.1 million increased approximately $14.1 million, or 9.6%, from the same period in 2008. Approximately $8.0 million of this increase was generated by our Vein Clinics Division, $5.2 million from our Fertility Centers Division and $0.9 million from our Consumer Services Division.
During the third quarter of 2009, Fertility Center revenues decreased by $0.5 million or 1.5% from the same period in 2008. This reduction was the result of a $0.1 million increase in service fees offset by a $0.6 million reduction in pass-through reimbursed costs within the division. The other major factor influencing this variance is the contract loss discussed above. During the first nine months of 2009, Fertility Center revenues increased by $5.2 million, or 5.0%, relative to the same period in the prior year. This increase was the result of service fees assessed on a 4.5% rise in same-center patient revenue as well as a comparable 4.2% rise in clinic contribution.
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