Surgical Care Affiliates 4Q Revenue up 10% to $217.5M
Surgical Care Affiliates announced its fourth quarter and year-end financial results.
The company reported its total net operating revenues were up 10.1 percent from $197.6 million to $217.5 million in its fourth quarter. In the fourth quarter, system-wide net patient revenue per case rose 11.2 percent and system-wide net operating revenue grew 11.8 percent.
Net operating revenues for the year-end increased 7.7 percent from $744.9 million to $802 million. At the year-end, system-wide net patient revenue per case grew 9.2 percent and system-wide net operating revenue grew 8.8 percent.
SCA's cash flow from operations decreased due to cash fees related to the company's initial public offering.
"From a financial perspective, we are pleased with our 2013 results as we continue increasing Adjusted EBITDA less NCI, growing our cash flow and deleveraging our balance sheet. In addition, we continue to have success in our efforts to develop new ambulatory surgery centers with our existing health system partners," said SCA President and CEO Andrew Hayek, according to the report.
As of December 31, 2013, SCA operated 177 surgical facilities.
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