AmSurg has reported its financial results for the second quarter of 2015.
Here are five key notes on the ASC company's financial performance for the second quarter of this year.
1. AmSurg reported net revenues of $642 million, up 131 percent from the second quarter of 2014. The company's ambulatory services revenues were $311 million, up 12 percent from the prior year's quarter.
2. The company's net earnings from continuing operations attributable to common shareholders were $31.4 million. Adjusted net earnings rose 131 percent from the second quarter of 2014.
3. AmSurg's adjusted EBITDA was $128 million, up 148 percent from the prior year period. "AmSurg produced strong growth for the second quarter, which significantly exceeded our expectations," said Christopher A. Holden, president and CEO of AmSurg. "Our performance was driven by successful execution of our organic growth and acquisition strategies in both our Ambulatory and Physicians Services businesses. The combination of AmSurg and Sheridan continues to be catalytic for both operating divisions."
4. Same-center revenue increased 5.1 percent for the quarter, compared to the second quarter of 2014. AmSurg acquired two ASCs in the quarter, ending the quarter with 250 centers. At the end of the quarter, AmSurg had six centers under letter of intent. Additionally, the company has two centers under development.
5. The company's physician services revenue increased 24.3 percent. The physician services division completed the acquisition of one anesthesiology practice and acquired two additional anesthesia practices following the close of the quarter.