The company said it recorded revenue of $8.2 million in 2016, up from $2.1 million in the year prior. This increase was driven by Global Medical’s larger portfolio of properties. In the fourth quarter alone, the company closed on 13 acquisitions — nearly double the amount of acquisitions it closed in the third quarter.
After factoring in increased operating expenses, acquisition costs and stock-based compensation expenses, Global Medical’s net loss widened to $6.4 million in 2016, compared to a net loss of $1.6 million in 2015.
As of Dec. 31, the company owned 31 properties with gross leasable area of 664,879 square feet, compared to the year prior when it owned nine properties with gross leasable area of 129,412 square feet.
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