Syncordia Technologies and Healthcare Solutions saw its revenue increase in the first quarter of fiscal year 2017, but the Toronto, Canada-based revenue cycle management company ended the period with a net loss.
Here are three things to know about the company's first-quarter finances.
1. Syncordia reported revenue of $4.12 million for the first quarter of FY 2017, up 21 percent from revenues of $3.39 million in the same period of last year.
2. The revenue increase was partly attributable to the company's March acquisition of Billing Solutions, a full-service third-party billing solutions company in Prescott, Ariz.
3. After accounting for a year-over-year increase in expenses, Syncordia ended the first quarter of FY 2017 with a net loss of $1.58 million. That's compared to a net loss of $1.19 million in the same period of the year prior.