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) announced a public offering of 6,000,000 shares of common stock, all to be sold by the company. An additional 900,000 shares may be offered at the underwriters' discretion. The offering's completion is subject to market conditions. Proceeds will be used for general corporate purposes. J.P. Morgan and Jefferies serve as lead managers, with Barclays and others as joint managers. This offering follows a filed automatic shelf registration statement with the SEC, effective January 25, 2021.
Surgery Partners has announced its participation in the 2021 J.P. Morgan Healthcare Conference, providing full-year 2020 revenue guidance of approximately $1.86 billion and reaffirming Adjusted EBITDA guidance between $250 million and $260 million. For 2021, the company projects an Adjusted EBITDA of around $315 million, aiming to restore double-digit growth rates based on a pre-COVID baseline. However, these projections are subject to adjustments, and actual results may differ significantly due to customary financial closing procedures.
Surgery Partners (NASDAQ:SGRY) will present at the J.P. Morgan Healthcare Conference on January 11, 2021, at 2:50 p.m. ET. Executive Chairman Wayne S. DeVeydt, CEO Eric Evans, and CFO Tom Cowhey will represent the company. Interested investors can access a live webcast through the company's Investor Relations webpage, with a replay available later. Surgery Partners, headquartered in Brentwood, TN, operates over 180 locations across 30 states, focusing on high-quality, cost-effective surgical services since 2004.
Surgery Partners, a prominent surgical facility operator, announced that Wayne S. DeVeydt, Eric Evans, and Tom Cowhey will present at the 2nd Annual Wolfe Research Healthcare Conference on November 19, 2020, at 9:00 a.m. ET. Investors can listen to the live webcast on the company's Investor Relations webpage, with a replay available afterward. Founded in 2004 and headquartered in Brentwood, Tennessee, Surgery Partners operates over 180 locations across 30 states, focusing on delivering high-quality, cost-effective surgical care. For more information, visit www.surgerypartners.com.
Surgery Partners, Inc. (NASDAQ:SGRY) reported third-quarter results for 2020, revealing a 9.8% increase in revenues to $496.1 million and 9.9% growth in adjusted revenues to $503.9 million. However, the company faced a net loss of $71.6 million, a stark increase from the prior year's loss. Adjusted EBITDA rose 7% to $66.5 million, excluding CARES Act impacts. The company strategically closed non-core facilities, including a toxicology lab, while expanding its surgical services. Cash reserves stood at $450 million with ongoing monitoring of regulatory changes.
Surgery Partners, Inc. (NASDAQ:SGRY) will release its third quarter 2020 results before the market opens on November 4, 2020. The company will also host a conference call at 8:30 a.m. (ET) the same day, which can be accessed by dialing 1-877-451-6152 for domestic callers and 1-201-389-0879 for international participants. A replay of the call will be available until November 18, 2020.
Headquartered in Brentwood, Tennessee, Surgery Partners operates over 180 locations across 30 states, focusing on high-quality, cost-effective surgical and ancillary care services.
NorthStar Anesthesia has successfully acquired select anesthesia services businesses from Surgery Partners (NASDAQ:SGRY), a leading owner of short-stay surgical facilities. This acquisition enhances NorthStar's growth strategy by expanding its presence in key markets including Georgia, Florida, Kentucky, North Carolina, and Texas. The deal strengthens NorthStar's ability to provide efficient anesthesia care at over 25 locations. Surgery Partners aims to refocus on its core surgical business, while NorthStar emphasizes its commitment to high-quality service and patient care.
Surgery Partners (NASDAQ: SGRY) announced the pricing of $115 million in senior unsecured notes due 2027, offered at 100.75% of principal. The closing is expected on July 30, 2020, subject to customary conditions. The funds will be utilized for general corporate purposes, including service line expansions and potential acquisitions. The notes are backed by guarantees from the issuer's domestic subsidiaries. This offering is part of a series that includes $430 million of similar notes issued in April 2019.
Surgery Partners (NASDAQ: SGRY), a leader in surgical facilities, is set to announce its Q2 2020 results on August 5, 2020, before market opening. A conference call will follow at 8:30 a.m. ET. Investors can participate via phone or join a live webcast on their Investor Relations website. Surgery Partners operates over 180 facilities across 30 states, emphasizing cost-effective surgical care.
Surgery Partners (SGRY) reported a revenue increase of 5.8% year-over-year to $441.0 million for Q1 2020. Adjusted revenues rose 6.0% to $450.6 million, while days adjusted same-facility revenues grew 0.9%. However, the company experienced a net loss of $37.0 million and an 8.3% decline in adjusted EBITDA to $46.5 million, attributed mainly to COVID-19-related cancellations. Surgery Partners maintained $194.6 million in cash and liquidity support measures were implemented amidst the pandemic, including a $120 million term loan amendment.
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