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, Inc. (Nasdaq: SGRY) has priced its public offering of 6,000,000 shares at $46.50 each, aiming to raise approximately $279 million. The offering, closing on or about November 12, 2021, includes a 30-day option for underwriters to purchase an additional 900,000 shares. Proceeds will support general corporate purposes, including acquisitions and debt repayment. BofA Securities, J.P. Morgan, and Jefferies are leading the offering.
Surgery Partners announced a public offering of 5,000,000 shares of its common stock, with an option for underwriters to purchase an additional 750,000 shares. The offering is subject to market conditions and the actual size may vary. Proceeds will be used for general corporate purposes. The shares are offered under an effective shelf registration statement filed with the SEC on January 25, 2021. BofA Securities, J.P. Morgan, and Jefferies are the lead managers for the offering.
Surgery Partners (NASDAQ:SGRY) reported strong Q3 2021 results, with revenues of $559.2 million, a 12.7% increase year-over-year. Adjusted EBITDA rose 25% to $76.4 million. Despite a net loss of $22.9 million, the company anticipates FY 2021 adjusted EBITDA of $325-$330 million. Key drivers included a 6.2% increase in same-facility case volume and a strategic focus on high-acuity procedures. Cash and equivalents stood at $330.4 million. Overall, Surgery Partners is well-positioned for growth amid the ongoing pandemic.
Surgery Partners, Inc. (NASDAQ:SGRY) will announce its third quarter 2021 results on November 2, 2021, after market close, followed by a conference call at 5:00 p.m. ET. Investors can join the call by dialing 1-877-451-6152 (domestic) or 1-201-389-0879 (international). A replay will be available until November 16, 2021.
Founded in 2004 and headquartered in Brentwood, Tennessee, Surgery Partners is a leading healthcare services provider with over 180 locations across 31 states, focusing on outpatient surgical care.
Surgery Partners (NASDAQ: SGRY) reported a 45% increase in Q2 2021 revenues to $543.3 million compared to the previous year, along with a 68% rise in same-facility case volume. Adjusted EBITDA for the quarter grew by 30% to $75.9 million, while net loss attributed to shareholders was $26.9 million. The company improved its full-year Adjusted EBITDA guidance to at least $325 million. With a robust liquidity position, Surgery Partners aims to continue enhancing its service offerings, supported by strong performance across all service lines and a significant increase in total joint procedures.
Surgery Partners, a leading owner and operator of short-stay surgical facilities, will release its second quarter 2021 results before market opening on August 4, 2021. This announcement includes a conference call at 8:30 a.m. ET, where interested parties can join via dial-in or webcast. The company operates over 180 locations across 30 states, focusing on high-quality, cost-effective surgical care. Interested investors can access the call and additional information through the company's website.
Surgery Partners and UCI Health have launched a strategic partnership aimed at enhancing access to outpatient surgical facilities for nearly 4 million residents in Southern California. This agreement will allow UCI Health to serve more patients needing same-day procedures, increasing outpatient surgical capacity. Surgery Partners CEO Eric Evans expressed optimism about the partnership's potential for growth and the delivery of cost-effective, high-quality care. The collaboration is expected to significantly improve local healthcare options and expand surgical services provided by both organizations.
Surgery Partners, a leading surgical services provider, announced participation in the Jefferies Virtual Healthcare Conference. Executive Chairman Wayne DeVeydt and CFO Tom Cowhey will present on June 2, 2021, at 3:30 p.m. ET. Interested investors can access the live webcast through the Investor Relations section of their website, with replay available later. Surgery Partners operates over 180 locations across 30 states, providing high-quality outpatient surgical care. For more details, visit www.surgerypartners.com.
Surgery Partners, a leader in surgical services, will be featured at two major healthcare conferences. CEO Eric Evans and CFO Tom Cowhey will present at the Bank of America Merrill Lynch Healthcare Conference on May 11, 2021, at 9:30 a.m. ET, and at the RBC Capital Markets Global Healthcare Conference on May 18, 2021, at 9:45 a.m. ET. Interested investors can access a live webcast via the company’s Investor Relations website, with replays available afterward. With over 180 locations across 30 states, Surgery Partners continues to be a significant player in the healthcare sector.
Surgery Partners (NASDAQ:SGRY) reported a 16.2% increase in revenues to $512.4 million for Q1 2021, driven by a 17.1% rise in same-facility revenues and an 8.8% increase in case volume. Despite a net loss of $31.3 million, Adjusted EBITDA surged 57% to $72.9 million, with guidance raised to at least $320 million for 2021. The company refinanced $1.55 billion in term loans, extending maturity to 2026 and saving over $7 million annually in cash interest. Liquidity remains strong with $541.9 million in cash. The company expects revenue growth of 18% to 20% for 2021.
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