GWest Corporation is reporting a net loss of $7.03 million, despite a $15.3 million spike in its revenues to $142.2 million during the second quarter of this year, which ended on September 30.
This was a deterioration when compared with a net loss of $3.83 million recorded on revenues of $126.9 million during the same period of the previous year.
The company noted that its revenues were negatively affected by a 19 per cent decline in patient fees due to delays in the renewal of its accreditation with the Ministry of Health and Wellness, which led to a reduction
in its ability to carry out many medical procedures.
The company said it received its improved accreditation status on October 14 this year.
GWest is also reporting that its direct expenses of $44.5 million was 66 per cent of total revenues during the quarter under review, compared with 64 per cent of revenues during the second quarter of last year.
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