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Biotech / Medical : CHDX--US China Industrial Exchange
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To: Bill Bishop who wrote (53)8/18/1998 8:33:00 AM
From: WWS   of 77
 
The 10QSB is available on EDGAR (SEC web site) as of this a.m. As Larry Pemble stated, Note 2 does indeed show revenue of $644,000 from "Healthcare Services" (i.e., Beijing United--BU--Clinic, which opened in March) for the first six calendar months of 1998. $1,421,000 in expenses were incurred operating the clinic during the same 6 month period. If we discount a portion of expenses as "one-time" start-up costs, I'd estimate that the first "full" quarter of BU operations generated about 1/2 million in service revenues at a cost of about 1 million. Against this backdrop, next quarter's results will be particularly illustrative in showing how fast revenues ramp up vis a vis expenses. I'd estimate that the revenue potential of a 20 bed obstetrics unit is about $3.6 million per quarter, assuming a stay of 3 days and $6000 charge per birth. Bill.
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