Statistics on Surgery Center Leverage Ratios

Here are the average and median debts and leverage ratios for surgery centers, according to VMG Health's 2009 Intellimarker.

1. Total debt (all interest-bearing debt outstanding)

• Average — $1.55 million
• Median — $945,000

2. Net debt (total debt less cash on balance sheet)

• Average — $1.4 million
• Median — $1.0 million

3. Total debt/assets*

• Average — 35.0 percent
• Median — 32.3 percent

4. Total debt/equity

• Average — 114.0 percent
• Median — 65.2 percent

5. Total debt/EBIDTA

• Average — 1.93x
• Median — 0.53x

6. Net debt/assets*

• Average — 31.6 percent
• Median — 27.7 percent

7. Net debt/equity

• Average — 111.2 percent
• Median — 62.2 percent

8. Net debt/EBIDTA

• Average — 2.26x
• Median — 0.49x

*Ratios and percentages are calculated as total/net debt divided by total assets, equity or EBIDTA.

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