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Note 11 - Related Party Transactions
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]

NOTE 11 – RELATED PARTY TRANSACTIONS

 

The Company’s Gamma Knife business is operated through its 81% indirect interest in its GKF subsidiary. The remaining 19% of GKF is owned by a wholly owned U.S. subsidiary of Elekta, which is the manufacturer of the Gamma Knife and other radiation therapy equipment. Since the Company purchases the majority of its equipment from Elekta, there are significant related party transactions with Elekta such as equipment purchases, commitments to purchase and service equipment, and costs to maintain the equipment. 

 

The following summarizes related party activity for the years ended  December 31, 2024 and 2023:

 

  

December 31,

 
  

2024

  

2023

 

Equipment purchases and de-install costs

 $5,268,000  $6,918,000 

Costs incurred to maintain equipment

  678,000   851,000 

Total related party transactions

 $5,946,000  $7,769,000 

 

The Company had related party commitments to purchase and install four Esprit upgrades, two LINACs, and service the related equipment. Total related party commitments were $18,581,000 as of  December 31, 2024.

 

Related party liabilities on the consolidated balance sheets consist of the following as of December 31, 2024 and 2023:

 

  

December 31,

 
  

2024

  

2023

 

Accounts payable, asset retirement obligations and other accrued liabilities

 $2,270,000  $2,361,000