The company reported stronger earnings driven by orthopedic and spine procedures, offsetting a 2.3% decline in total surgical cases.
Medical Facilities (TSE:DR) posted a 7.8% year-over-year increase in second-quarter revenue to $63.1 million, supported by a shift toward higher-value orthopedic and spine procedures. Operating income rose 9.4% to $9.6 million, while EBITDA grew 7.1% to $12.5 million.
Total surgical cases declined 2.3%, with outpatient procedures up 0.9% but inpatient and pain-management volumes lower. Management expects new physicians at Arkansas Surgical Hospital in September to help recover volumes.
The company repurchased 1.34 million shares for $17.1 million and held $64.1 million in cash at quarter-end, with no corporate-level bank debt.