Nu-Med Profits Up a Record 35%

Nu-Med Inc., the Encino-based hospital management company, reported record results for its 1985 fiscal year despite a slowdown in profit and revenue growth during its fourth quarter ended April 30.

For the year, Nu-Med’s profit was $7.47 million, or 82 cents per share, an increase of 35% over 1984. Revenue for fiscal year 1985 rose 46% to $200.63 million. Both figures were records for the company.

Nu-Med reported fourth-quarter profits of $1.93 million, or 21 cents per share, up 8% from the same period a year ago. Revenue for the period was $51.27 million, up 25% over the same quarter in 1984.

The company’s fourth-quarter profits failed to rise as sharply as its revenue did because of lower hospital occupancy rates, following a national trend, Nu-Med President William N. Hartauer said.

The company recently completed acquisition of Holly House Hospital, a 64-bed facility in a suburb of London, England.

Nu-Med owns and operates 15 other hospitals and 11 medical office buildings.

Conejo Valley Revenue $1.6 Million for Quarter

Conejo Valley National Bank, based in Thousand Oaks, reported revenues of $1.6 million for its second quarter ended June 30, up 21% from the same period a year ago. Net income was $148,000, or 25 cents, up 29% over the corresponding period last year.

The increases reflect a merger with the Village Bank of Westlake Village last September. Assets climbed to a record $57.4 million as of June 30, an increase of 18% over the quarter.