Integrated Healthcare Holdings, based in Santa Ana, Calif., has filed a termination notice with the Securities and Exchange Commission.
Effective this month, the four-hospital, investor-owned hospital chain will no longer file reports. Steven Blake, CFO of Integrated Healthcare Holdings, signed the document under several rules, including 12g-4(a)(1), which allows a company to negate its obligation of filing reports with the SEC if it has less than 300 shareholders. As of January, Integrated Healthcare Holdings had only 128 shareholders.
In fiscal year 2012, Integrated Healthcare Holdings posted $365.3 million in net patient revenue, a 13.7 percent decrease from FY 2011. Operating profit in 2012 dropped 72 percent to $12.7 million. In the process, the hospital company's operating margin fell from 10.6 percent to 3.5 percent.
Integrated Healthcare Holdings is also part of ApolloMed ACO, the Medicare accountable care organization of Glendale, Calif.-based Apollo Medical Holdings.
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