NU Online News Service, Nov. 6, 10:26 a.m. – PlanVista Corp., Tampa, Fla., is reporting a net loss of $35 million for the third quarter on $7.9 million in revenue, compared with a net loss of $35 million on $7.1 million in revenue for the third quarter of 2000.
The managed care company is including $1.8 million in costs related to the disposal of discontinued businesses in the net earnings figures, and a $32 million provision for income taxes incurred when PlanVista was a bigger company.
PlanVista recently spun off its health plan administration business. It still sells provider network administration services and operates a large health care provider network.
Excluding interest, taxes, depreciation and amortization, operating income for the quarter was $2.2 million, down from $2.6 million, the company says.
PlanVista made the news in September when it announced it had defaulted on the terms of a credit facility and entered into a “forbearance agreement” with the credit facility lenders.