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What is HealthTronics' history and mission?
HealthTronics, Inc. is a urology focused company which excels at providing an exclusive suite of healthcare services and technology including urologist partnership opportunities, surgical and capital equipment, maintenance services offerings, and anatomical pathology services.
For over 20 years HealthTronics has been the leading provider of urological services and products in the United States. Headquartered in Austin, Texas, we provide the most advanced technology and premiere support systems to hospitals, surgery centers and clinics across the United States.
Finally, HealthTronics is a company which continues to strengthen its core lithotripsy business by partnering with physicians to improve both patient care and the physician's practice economics. HealthTronics intends to use that core lithotripsy business as a platform to introduce new growth drivers through technology, service, and strategies, further leveraging that platform.
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What is HealthTronics' overall strategy?
In terms of our overall strategy -- our core strength is helping urologists converge around new technologies and services that improve patient care and practice economics. We are particularly adept when there are three criteria present:
- A need for large capital investment;
- High levels of patient throughput; and,
- Ongoing complexity within the regulatory environment.
A combination of these criteria supports the urologist having a partner like HealthTronics and it is these type scenarios where we seek to identify and establish a partnership.
We believe that our partners are increasingly viewing us as a valuable partner in a context far broader in scope than just lithotripsy or BPH treatments. They understand that HealthTronics takes seriously its mission to bring its partners new technologies and services that improve patient care as well as their practice economics. At HealthTronics, we understand that our future rests on our ability to fulfill our mission.
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Please provide more detail on the healthcare services and technology you offer.
Lithotripsy services. Our lithotripsy services are provided principally through limited partnerships and other entities that we manage, which use lithotripsy devices. In 2008, physicians who are affiliated with us used our lithotripters to perform approximately 50,000 procedures in the U.S. We do not render any medical services. Rather, the physicians do.
We have two types of contracts, retail and wholesale, that we enter into in providing our lithotripsy services. Retail contracts are contracts where we contract with the hospital and private insurance payors. Wholesale contracts are contracts where we contract only with the hospital. The two approaches functionally differ in that, under a retail contract, we generally bill for the entire non-physician fee for all patients other than governmental pay patients, for which the hospital bills the non-physician fee. Under a wholesale contract, the hospital generally bills for the entire non-physician fee for all patients. In both cases, the billing party contractually bears the costs associated with the billing service, including pre-certification, as well as non-collection. The non-billing party is generally entitled to its fees regardless of whether the billing party actually collects the non-physician fee. Accordingly, under the wholesale contracts where we are the non-billing party, the hospital generally receives a greater proportion of the total non-physician fee to compensate for its billing costs and collection risk. Conversely, under the retail contracts where we generally provide the billing services and bear the collection risk, we receive a greater portion of the total non-physician fee.
Although the non-physician fee under both retail and wholesale contracts varies widely based on geographical markets and the identity of the third party payor, we estimate that nationally, on average, our share of the non-physician fee was roughly $2,100, respectively, for each of the first six months of 2009 and 2008. At this time, we do not anticipate a material shift between our retail and wholesale arrangements, or a material change in our share of the non-physician fee.
As the general partner of limited partnerships or the manager of other types of entities, we also provide services relating to operating our lithotripters, including scheduling, staffing, training, quality assurance, regulatory compliance, and contracting with payors, hospitals, and surgery centers.
Prostate treatment services. We provide treatments for benign and cancerous conditions of the prostate. In treating benign prostate disease, we deploy three technologies: (1) photo-selective vaporization of the prostate (PVP), (2) trans-urethral needle ablation (TUNA), and (3) trans-urethral microwave therapy (TUMT) in certain partnerships. All three technologies apply an energy source which reduces the size of the prostate gland. For treating prostate and other cancers, we use a procedure called cryosurgery, a process which uses a double freeze thaw cycle to destroy cancers cells. In April 2008, we acquired Advanced Medical Partners, Inc. ("AMPI"), which significantly expanded our cryosurgery partnership base. In July, 2009 we broadened our interest beyond providing services to include the technology and equipment itself by acquiring Endocare, a medical device manufacturer of proprietary cryoablation technologies. Our prostate treatment services are also provided principally through limited partnerships and other entities that we manage, which use equipment to perform the treatments. Benign prostate disease and cryosurgery cancer treatment services are billed in the same manner as our lithotripsy services under either retail or wholesale contracts. We also provide services relating to operating the equipment, including scheduling, training, quality assurance, regulatory compliance, and contracting.
Radiation therapy services. We provide image guided radiation therapy (IGRT) technical services for cancer treatment centers. Our IGRT technical services may relate to providing the technical (non-physician) personnel to operate a physician practice group's IGRT equipment, leasing IGRT equipment to a physician practice group, providing services related to helping a physician practice group establish an IGRT treatment center, or managing an IGRT treatment center.
Anatomical pathology services. We also provide anatomical pathology services primarily to the urology community. Our lab operation, ClariPath Laboratories, is made up of a state of the art reference lab in Georgia, and three labs located in Texas, Florida, and Pennsylvania acquired in our acquisition of UroPath LLC in July, 2008. We provide laboratory detection and diagnosis services to urologists throughout the United States. In addition to providing lab services, we manage in-office pathology labs for practice groups and provide pathology services to physicians and practice groups with our lab equipment and personnel.
Sales and maintenance. We also sell and maintain lithotripters and related spare parts and consumables.
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How does HealthTronics recognize revenue?
For more information, please see our SEC filings.
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What are HealthTronics' products?
HealthTronics offers diagnostic and therapeutic solutions to physicians, hospitals, surgery centers and clinics with a product portfolio that includes lithotripters, surgical lasers and cryotherapy units, and anatomical pathology services.
With the largest fleet of lithotripsy systems, and a host of minimally invasive urological services and products serving a network of approximately 1/3 of practicing urologists, HealthTronics is the leading provider of urological services and products in the U.S.
In 2007, HealthTronics introduced a new growth initiative, TotalRadTM Radiation Therapy Solutions. TotalRadTM provides best-in-class Image Guided Radiation Therapy (IGRT) technology. This offering represents an evolutionary jump for our urologist partners in their ability to manage and treat the prostate cancer patient, to differentiate their practice, and to develop new revenue streams, while mitigating the hurdles typically associated with such a large investment.
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Where is HealthTronics located?
The corporate headquarters and service and maintenance operations are located in Austin, TX.
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How many employees does HealthTronics have?
As of February 28, 2009 (per our 2008 10-K), we had approximately 550 full-time employees and approximately 30 part-time employees.
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On what exchange does HealthTronics trade and what is its ticker symbol?
Shares of our common stock are listed on NASDAQ under the symbol HTRN.
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How many shares of HealthTronics are outstanding?
As of August 7, 2009, our shares outstanding were 44,659,560.
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How can I invest in HealthTronics? Can I purchase HealthTronics stock directly from the company?
You can purchase stock in our company through a registered brokerage or stock purchase service provider of your choice. You cannot buy HealthTronics stock directly from the company.
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What is a transfer agent, who is yours, and how do I contact them?
A transfer agent is a regulated organization that keeps track of stockholder records and information. To find out more, please contact our transfer agent:
American Stock Transfer & Trust Company New York, NY Shareholder Services:
(800) 937-5449
(212) 936-5100
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Does HealthTronics pay a cash dividend?
No, we have never declared or paid a cash dividend nor do we expect to pay any dividends in the foreseeable future.
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When does HealthTronics report earnings?
We announce the dates of our earnings through a press release within 2 weeks after the end of the quarter (see fiscal year questions below).
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How can I listen to the webcast for the earnings report?
Access via Webcasts page under Investor Relations.
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I missed the earnings webcast. Can I listen to the archived session?
Yes. You're welcome to listen to our archived webcasts. They are archived for 30 days following the event.
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When does HealthTronics' fiscal year end?
Our fiscal year ends on December 31. Our quarters end on March 31, June 30, September 30, and December 31.
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When and where is the HealthTronics Annual Stockholders Meeting?
The Annual Meeting of Shareholders was held at HealthTronics, Inc. Corporate Office 9825 Spectrum Drive, Building 3, Austin Texas 78717 at 8:00 AM CDT. on May 7, 2009. Additional information can be found in our 2009 Proxy Statement.
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How can I attend the Annual Stockholders Meeting?
You can attend our Annual Stockholders Meeting ONLY if you are a HealthTronics stockholder as of the date listed in our proxy. Additional information regarding attendance requirements is detailed in each year's annual proxy statement.
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Where can I find all of HealthTronics' SEC filings?
You can access our filings through the SEC website. You can also directly order selected HealthTronics filings.
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How can I download and view the quarterly and annual reports online?
You are welcome to download and view both quarterly and annual reports directly from our site.
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What is HeathTronics' Corporate Address?
9825 Spectrum Dr. Building 3
Austin TX 78717
(512) 328-2892
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Who is HealthTronics' Independent Accountant?
Ernst & Young LLP Austin, TX
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Who is HealthTronics' Legal Counsel?
Jackson & Walker LLP Austin, TX
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How do I contact Investor Relations?
If you can't find the information you're looking for on our website, please feel free to contact us at investors@healthtronics.com.
Or write to us here:
9825 Spectrum Dr.
Building 3 Austin TX 78717
(512) 328-2892
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