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.
Physicians Realty Trust reported a second quarter 2022 net income of $0.07 per share and $0.27 Normalized FFO per share, with total revenue rising 17% to $132.2 million. The Trust executed $46.9 million in investments, announced a quarterly dividend of $0.23 per share, and disposed of one property for $6.4 million, realizing a net gain of $3.7 million. A significant sale of three facilities in Great Falls, Montana on July 14 generated $116.3 million with a net gain of $53.9 million. The portfolio was 95% leased, and Same-Store Cash NOI grew 1.9% year-over-year.
Surgery Partners (NASDAQ:SGRY) reported a 13.3% revenue increase to $615.4 million for Q2 2022, driven by 149,000 surgical cases performed, up nearly 7% year-over-year. Adjusted EBITDA rose 13.4% to $86.1 million, with margins at 14.0%. Despite a net loss of $18.4 million, the company reaffirmed its 2022 guidance for revenue between $2.5 billion and $2.6 billion. Cash flow from operating activities surged to $42.1 million, significantly above last year's $2.3 million. The company maintains a strong liquidity position with $227.4 million in cash.
Surgery Partners (NASDAQ:SGRY) will announce its second quarter 2022 financial results on August 2, 2022, before market opening. A conference call is scheduled for 8:30 a.m. ET, where investors can join via a dedicated dial-in or webcast through the company’s Investor Relations website. Founded in 2004 and headquartered in Brentwood, Tennessee, Surgery Partners operates over 180 surgical facilities across 32 states, focusing on high-quality, cost-effective outpatient care.
Surgery Partners (NASDAQ:SGRY) will present at the Jefferies Healthcare Conference on June 8, 2022, at 4:30 p.m. EST. The event aims to connect the company with investors.
Interested parties can listen to a live webcast on the Surgery Partners investor relations page, with a replay available for a limited time thereafter.
Founded in 2004 and headquartered in Brentwood, Tennessee, Surgery Partners operates over 180 facilities in 32 states, focusing on high-quality, cost-effective surgical care.
Surgery Partners (NASDAQ:SGRY), a leading healthcare services company, will meet with investors at two upcoming healthcare conferences.
The Bank of America Securities 2022 Healthcare Conference is scheduled for May 10, 2022, at 4:20 p.m. ET, and the RBC Capital Markets Global Healthcare Conference will follow on May 17, 2022, at 1:35 p.m. ET.
Webcasts of both events will be accessible on Surgery Partners' investor relations website, with replays available for a limited time after the calls.
Surgery Partners (NASDAQ: SGRY) and ValueHealth announced a strategic partnership aimed at expanding access to high-value surgical care. This collaboration will accelerate the development of new ambulatory surgery centers (ASCs) and implement ValueHealth's value-based surgical programs across existing locations. Surgery Partners will manage ASCs and develop new surgical sites focusing on orthopedic specialties. The partnership is expected to meet the rising demand for cost-effective surgical services, enhancing the patient and physician experience in outpatient settings.
Surgery Partners reported a 16.4% increase in revenues to $596.2 million for Q1 2022, with net income of $12.2 million and adjusted EBITDA of $77.1 million, up 5.8% year-over-year. The company raised its 2022 guidance for adjusted EBITDA to between $375 million and $385 million and projected revenues of $2.5 billion to $2.6 billion. Surgical case volume also saw a double-digit growth across multiple specialties. The management emphasized strong operational execution despite challenges posed by the Omicron variant.
Surgery Partners (NASDAQ:SGRY), a leading short-stay surgical facility operator, will announce its Q1 2022 results on May 3, 2022. The results will be followed by a conference call at 8:30 a.m. ET. Interested investors can access the call by dialing 1-877-451-6152 for domestic or 1-201-389-0879 for international connections. A replay will be available until May 17, 2022. Surgery Partners operates over 180 locations across 31 states, focusing on high-quality and cost-effective surgical care. Visit www.surgerypartners.com for more information.
Surgery Partners, Inc. (NASDAQ:SGRY) reported a net loss of $0.1 million for Q4 2021 and a full-year net loss of $81.2 million. Q4 revenues increased 11.3% to $610.2 million, while full-year revenues rose 19.6% to $2.2 billion. Adjusted EBITDA in Q4 increased 26% to $114.4 million and 32.3% for the year to $339.6 million, aided by CARES Act grants. The company forecasts 2022 revenues to exceed $2.5 billion with Adjusted EBITDA between $370 million and $380 million. Significant investments and capital deployment of $325 million in 2021 underline a strong growth outlook.
Surgery Partners (NASDAQ:SGRY) will announce its fourth quarter 2021 results after market close on February 28, 2022. A conference call will follow at 5:00 p.m. ET to discuss these results. Interested parties can join the call via a domestic phone number (1-877-451-6152) or international number (1-201-389-0879). A replay will be available for a limited time afterward. Surgery Partners, headquartered in Brentwood, TN, operates over 180 locations across 31 states, focusing on outpatient surgical and ancillary care.
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