Welcome to our dedicated page for Surgery Partners news (Ticker: SGRY), a resource for investors and traders seeking the latest updates and insights on Surgery Partners stock.
Surgery Partners, Inc. (NASDAQ: SGRY) is a leading operator of surgical facilities and ancillary services across the United States, with more than 180 locations nationwide. The company is dedicated to providing exceptional integrated healthcare experiences for both providers and patients. Their diverse portfolio includes ambulatory surgery centers, surgical hospitals, multi-specialty physician practices, urgent care facilities, and a variety of ancillary services such as diagnostic laboratories, anesthesia services, optical services, and specialty pharmacy services.
Founded in 2004 and headquartered in Brentwood, Tennessee, Surgery Partners is one of the largest and fastest-growing surgical services businesses in the country. Their integrated outpatient delivery model focuses on providing high-quality, cost-effective solutions for surgical and related ancillary care. By leveraging an individualized, local market approach, they are able to offer flexible and tailored care solutions.
The company operates in two primary segments: Surgical Facility Services and Ancillary Services. The Surgical Facility Services segment accounts for the majority of their revenue, with their ancillary services supporting and enhancing their core surgical operations. This unique combination differentiates Surgery Partners from its competitors by offering a comprehensive suite of services under one roof.
In recent news, Surgery Partners reaffirmed its 2023 Adjusted EBITDA guidance of $436 million to $440 million and revenue guidance of approximately $2.75 billion. For 2024, they project an Adjusted EBITDA greater than $495 million, showcasing their commitment to mid-teens growth. Additionally, they have successfully executed multiple capital market transactions, enhancing their balance sheet and extending their debt maturities to 2030.
Recent achievements include targeted acquisitions, such as a specialty surgery hospital and other facilities, which are expected to contribute significantly to their growth. Surgery Partners continues to refine its operational execution, focusing on clinical quality, value, and physician recruiting. The company's strong pipeline and execution of key growth levers give them confidence in their future outlook.
Surgery Partners' financial condition remains robust, with cash and cash equivalents of $185.2 million and $607.3 million of borrowing capacity under its revolving credit facility as of March 31, 2024. The company’s first quarter of 2024 saw revenues increase by 7.7% to $717.4 million, and Adjusted EBITDA rose to $97.5 million.
For more detailed information and the latest updates, visit www.surgerypartners.com.
Surgery Partners (NASDAQ:SGRY) reported strong financial results for Q4 and full year 2024. Revenue increased 17.5% to $864.4M in Q4 and 13.5% to $3.1B for the full year. Same-facility revenues grew 5.6% in Q4 and 8.0% for 2024.
The company posted Q4 Adjusted EBITDA of $163.8M, up 15.1%, and full-year Adjusted EBITDA of $508.2M, a 16.0% increase. However, net losses were $108.5M for Q4 and $168.1M for 2024.
For 2025, Surgery Partners projects revenue between $3.30B-$3.45B and Adjusted EBITDA of $555M-$565M. The company maintains strong liquidity with $269.5M cash and $501.5M in credit facility availability. Operating cash flows improved to $111.4M in Q4 2024 from $62.6M in Q4 2023.
Surgery Partners (NASDAQ:SGRY), a leading short-stay surgical facility operator, has scheduled its fourth quarter 2024 earnings release for Monday, March 3, 2025, before market open. The company will host a conference call at 8:30 a.m. Eastern Time on the same day.
Participants can access the call via phone using 1-877-451-6152 (domestic) or 1-201-389-0879 (international). A replay will be available for two weeks until March 17, 2025, accessible at 1-844-512-2921 (domestic) or 1-412-317-6671 (international) using passcode 13751533. A simultaneous webcast will be available on the Investor Relations section of the company's website.
Surgery Partners (NASDAQ: SGRY) has received a non-binding acquisition proposal from Bain Capital Private Equity to purchase all outstanding shares not already owned by Bain Capital for $25.75 per share in cash. Bain Capital and its affiliates currently own approximately 39% of the Company's outstanding common stock.
A Special Committee of independent directors will evaluate the proposal with independent financial and legal advisors. The proposed transaction would require approval from both a majority of non-Bain Capital shareholders and a Special Committee of independent directors.
The company emphasizes that no decisions have been made regarding the proposal, and there is no guarantee that a definitive offer will be made or that any transaction will be completed.
Surgery Partners (NASDAQ:SGRY) has appointed Dr. Laura L. Forese as an independent director to its Board of Directors, effective January 10, 2025, expanding the board to eleven members. Dr. Forese brings over 40 years of healthcare experience, most recently serving as executive vice president and chief operating officer at New York-Presbyterian, overseeing 10 hospital campuses, 200 medical facilities, and 45,000+ employees.
As an orthopedic surgeon with extensive healthcare administration experience, Dr. Forese previously established the New York-Presbyterian Medical Groups, focusing on standardizing practices and expanding regional presence. She holds leadership positions in various healthcare organizations, including chair emerita of the NIH Clinical Research Hospital board and serves on multiple corporate boards. Dr. Forese earned her medical degree from Columbia University and a masters in health services management, along with a bachelor's in civil engineering from Princeton University.
Surgery Partners (NASDAQ:SGRY) reported strong Q3 2024 results with revenues increasing 14.3% to $770.4 million. Same-facility revenues grew 4.2% with a 3.7% increase in cases. The company posted a net loss of $31.7 million, while Adjusted EBITDA rose 21.9% to $128.6 million with a margin expansion of 100 basis points to 16.7%. The company maintains strong liquidity with $221.8 million in cash and $595.8 million in revolving credit facility capacity. Operating cash flow was $65.2 million for Q3. Surgery Partners reaffirmed its 2024 guidance, expecting revenues over $3.075 billion and Adjusted EBITDA exceeding $508 million.
Surgery Partners, Inc. (NASDAQ:SGRY), a leading short-stay surgical facility owner and operator, has announced the release date for its third quarter 2024 financial results. The company will disclose its earnings before the market opens on Tuesday, November 12, 2024, followed by a conference call at 8:30 a.m. Eastern Time.
Investors and interested parties can access the live call by dialing 1-877-451-6152 (domestic) or 1-201-389-0879 (international). A replay will be available for two weeks after the call. Additionally, a simultaneous webcast of the conference call will be accessible through the Investor Relations section of the company's website at www.surgerypartners.com.
Surgery Partners, Inc. (NASDAQ:SGRY) reported strong Q2 2024 results, raising full-year guidance. Key highlights include:
- Revenues increased 14.2% to $762.1 million
- Same-facility revenues up 9.9%
- Adjusted EBITDA grew 18.1% to $118.3 million
- Adjusted EBITDA margin expanded 50 basis points to 15.5%
- Full-year guidance raised to >$3.075 billion revenue and >$508 million Adjusted EBITDA
The company deployed nearly $220 million on acquisitions and improved its balance sheet position. Cash and cash equivalents stood at $213.5 million, with $647.8 million available under its revolving credit facility. The total net debt to EBITDA ratio was approximately 3.8x at quarter-end.
Surgery Partners (NASDAQ:SGRY), a leading short-stay surgical facility operator, has announced the release date for its second quarter 2024 earnings report. The company will disclose its financial results before the market opens on Tuesday, August 6, 2024, followed by a conference call at 8:30 a.m. Eastern Time.
Investors can access the live call by dialing 1-800-579-2543 (domestic) or 1-785-424-1789 (international) with the Conference ID: SPI2Q24. A replay will be available for two weeks after the call. Additionally, a simultaneous webcast will be accessible through the Investor Relations section of the company's website at www.surgerypartners.com.
Surgery Partners, Inc. reported strong financial results for the first quarter of 2024, with revenues increasing by 7.7% to $717.4 million. The company's same-facility revenues grew by 10.2%, while the net loss was $12.4 million. Adjusted EBITDA reached $97.5 million, with an 8.2% growth compared to the previous year. The company raised its full-year 2024 guidance to at least $3.05 billion in revenue and at least $505 million in Adjusted EBITDA. Surgery Partners' executives highlighted strong growth driven by clinical quality, operational execution, and strategic acquisitions.
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