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Health care industry

Counsel Corporation Reports Significant Earnings Growth in 1995

Strategic Insights

— 1 min read

Counsel Corporation, a leading diversified company in the healthcare and real estate sectors, announced a substantial increase in earnings for the six months ended June 30, 1995. Net earnings for the period rose 243 percent to $21.9 million, up from $6.4 million in the same period of 1994. Earnings per share were 93 cents basic and 88 cents on a fully diluted basis. The company's two-tiered growth strategy, focused on long-term investments in niche healthcare sectors in the United States, has been successful in driving growth.

Key Takeaways:

  • Counsel Corporation reported a 243 percent increase in net earnings for the six months ended June 30, 1995, from $6.4 million in 1994 to $21.9 million.
  • Earnings per share for the period were 93 cents basic and 88 cents on a fully diluted basis.
  • The company's two-tiered growth strategy involves investing in niche healthcare sectors in the United States, with an active management role.
  • Counsel successfully implemented two profitable dispositions during the first six months of 1995, resulting in net gains of $27.9 million and $8.7 million from the sale of American HomePatient and Medserv Corporation, respectively.
  • The company has operated in two business sectors: Health Care in the United States through American HomePatient Inc. and Choice Drug Systems Inc., and Real Estate Property Management in Canada through Counsel Management Services Inc. (CMSI).
  • CMSI provides property management services for RioCan Real Estate Investment Trust (TSE-REI.Un), institutions, and independent owners.

Statistics:

  • Net earnings for the six months ended June 30, 1995: $21.9 million (243 percent increase from $6.4 million in 1994)
  • Earnings per share (basic): 93 cents
  • Earnings per share (fully diluted): 88 cents
  • Net earnings for the second quarter (1995): $13.3 million (compared to $4.1 million in 1994)
  • Net earnings per share (basic and fully diluted) for the second quarter (1995): 58 cents and 53 cents, respectively

Sources:

  • Counsel Corporation (1995). Business Wire Press Release. Retrieved from [www.businesswire.com, Aug. 23, 1995]
  • Counsel Corporation (1995). 1995 Second Quarter Earnings Report. Retrieved from [www.counsel.com, June 30, 1995]

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