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 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.
Surgery Partners (NASDAQ:SGRY) announced plans to refinance $119 million in incremental term loans and convert Series A preferred stock into approximately 22.609 million common shares on May 17, 2021. The company projects first quarter 2021 revenues to exceed $505 million with an adjusted EBITDA of at least $70 million, benefiting from CARES Act grants. Surgical case volumes are estimated at 125,000, with same-facility revenues expected to rise by 16-17%. The projected adjusted EBITDA for 2021 is at least $315 million.
Surgery Partners, Inc. (NASDAQ:SGRY) will release its Q1 2021 financial results on May 5, 2021, before market opening. A conference call will follow at 8:30 a.m. Eastern Time for investors to discuss the outcomes. Interested parties can join via dial-in numbers or through a webcast on the company's investor relations webpage. Surgery Partners, headquartered in Brentwood, Tennessee, operates over 180 surgical facilities across 30 states, focusing on high-quality, cost-effective outpatient care. More details are available on their website.
Surgery Partners (NASDAQ: SGRY) reported Q4 and full-year 2020 results with revenues of $548.3 million in Q4, up 6%, and a net loss of $4.8 million. Adjusted EBITDA rose 7.6% to $90.8 million. For the full year, revenues increased 1.6% to $1.9 billion, but net loss widened to $155.6 million. The company successfully recruited over 560 physicians in 2020 and closed an equity offering in February 2021, raising nearly $250 million. Looking ahead, Surgery Partners projects 2021 revenue growth of 18% to 20% and an Adjusted EBITDA of approximately $315 million.
Surgery Partners (NASDAQ:SGRY) announced the appointment of Dr. Patricia A. Maryland as an independent director, effective immediately. This addition expands the Board to nine members. Dr. Maryland brings 40 years of healthcare administration experience, most recently as executive vice president at Ascension, overseeing a vast network of hospitals and care facilities. She is recognized for her leadership in healthcare and has served on multiple boards. The company looks forward to leveraging her expertise to enhance patient care and drive growth.
Surgery Partners (NASDAQ:SGRY), a leader in outpatient surgical services, will announce its Q4 2020 results on March 10, 2021, before market opening. A conference call will follow at 8:30 a.m. ET, available for live access and replay. Interested parties can listen via the company's website, enhancing investor engagement. With over 180 locations nationwide, Surgery Partners continues to expand in the healthcare sector, emphasizing cost-effective surgical care and ancillary services.
Surgery Partners, Inc. (Nasdaq: SGRY) announced the pricing of a public offering of 7,500,000 shares of common stock at $30.25 per share, with expected gross proceeds of approximately $226.9 million. The offering includes a 30-day option for underwriters to purchase an additional 1,125,000 shares. Net proceeds will be used for general corporate purposes, including funding acquisitions and repaying debt. The offering is expected to close on February 1, 2021. J.P. Morgan Securities LLC and Jefferies LLC are the lead managers.
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