8 ASC Management & Development Company Recent Financial Results
AmSurg reported a 19 percent increase in revenue for the third quarter, up to $268.2 million, compared to $224.9 million over the same period last year. The company's net earnings rose 12 percent to $17 million for the quarter.
Graymark Healthcare reported a 103 percent increase in revenue to $25 million, compared to $12.3 million over the same period last year. The company's operating expenses were $44.3 million, up from $10.6 million during the same period last year. Graymark recently acquired Foundation Surgical Hospital Affiliates and Foundation Surgery Affiliates.
Hospital Corporation of America's operating income increased 3.5 percent to $701 million in the third quarter. HCA's net income grew 1.4 percent to $365 million. Net revenue grew 4.9 percent to more than $8.4 billion.
Medical Facilities Corporation reported a 34 percent increase in consolidated facility service revenue to $73 million in the third quarter. Consolidated income from operations increased 20 percent to $19.3 million and total net income increased to $8 million.
Surgical Care Affiliates announced system-wide net operating revenues increased 18 percent in the third quarter of 2013 compared to the same period last year. The company also reported cash flow from operations increased 7 percent in the nine-months ending Sept. 30. SCA reported that net patient revenue per case grew 9 percent over the same period last year and 8 percent for the nine months end.
Symbion reported a 4 percent increase in revenue to $129 million. Revenue per case increased more than 5 percent. Income from continuing operations increased to $4.2 million in the third quarter of 2013. The company purchased a majority share in a California ASC and minority share in a Tennessee center during the third quarter.
Tenet Healthcare Corp. reported a 30 percent drop in net income in the third quarter, from $40 million to $28 million. Tenet's net revenue increased more than 8.4 percent to $2.4 billion.
United Surgical Partners International has announced a 17.7 percent increase in consolidated net revenue to $151 million during the third quarter. USPI's operating income increased 12.5 percent to $63.1 million. During the first nine months of 2013, USPI opened a de novo facility, acquired one facility and sold interest in one facility.
More Articles on Transactions and Valuation Issues:
The Road Ahead for Freestanding ASCs: Q&A With Dr. Stacey Berner of SurgCenter Development
4 Recent Drivers of M&A Activity in Healthcare
Northstar Healthcare to Bid for Two ASCs in Dallas & Phoenix
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