Acquisitions, Q1 Financial Reports, Leadership Moves & More – 25 Key Notes on ASC Companies
1. AmSurg will acquire Sheridan Healthcare in a cash and stock transaction of approximately $2.35 billion. Sheridan offers services in 25 states and employs more than 2,400 physicians and healthcare providers.
2. AmSurg net earnings from continuing operations attributable to common shareholders were $17.5 million in the first quarter of 2014. The company reportedly operated 242 centers at the end of the quarter.
3. Hospital Corporation of America reaffirmed its guidance ranges for 2014, which included revenue of $35.5 billion and adjusted EBITDA of $6.6 billion on the low ends. As of March 31, HCA operated 115 ambulatory surgery centers.
4. Hospital Corporation of America's net income grew 0.9 percent in the first quarter of fiscal year 2014, reaching a total of $347 million. Total revenue increased 4.6 percent from $8.44 billion to more than $8.83 billion.
5. Foundation Healthcare reported $22.1 million in revenue for the first quarter of 2014, up 18 percent from $18.7 million in the first quarter of 2013.
6. Medical Facilities Corporation reported $72.9 million in first quarter 2014 revenue, which is consistent with revenue reported in the first quarter of 2013.
7. Northstar Healthcare reported first quarter 2014 net patient service revenue of $121.1 million, up 194.1 percent from $4.1 million in the first quarter of 2013..
8. Surgical Care Affiliates reported system-wide net patient revenue per case grew 5.4 percent in the first quarter of 2014. The growth is attributed to acquisitions, changes in payer contracts and case volume, according a news release.
9. For the first quarter of 2014, Surgical Care Affiliates reported that total net operating revenues, excluding facilities in which the company does not own a controlling interest, increased 2.1 percent from $192 million to $196 million.
10. Symbion reported $133.97 million in first quarter 2014 revenue, up from $130.38 million in the first quarter of 2013. The company also reported an increase in operating expenses, rising from $109.82 million in the first quarter of 2013 to $112.62 million in the first quarter of 2014.
11. Symbion's operating income increased 3.8 percent from $20.56 million in the first quarter of 2013 to $21.34 million in the first quarter of this year.
12. United Surgical Partners International reported consolidated net revenues of $145.3 million for the first quarter of 2014, compared to $145.1 million during the same period in 2013. The company acquired two facilities in the first quarter.
13. USPI acquired two facilities in the first quarter of 2014 and acquired another after the end of the quarter. USPI owns and operates 216 facilities, 148 of which are joint ventures with not-for-profit healthcare systems.
14. AmSurg completed the first quarter of 2014 with seven letters of intent and one de novo center under development. Net earnings from continuing operations attributable to AmSurg common shareholders were $0.55 per diluted share, or $17.5 million, compared to $0.56 per diluted share, or $17.8 million, in the first quarter of 2013.
15. Regent Surgical Health, a group of physicians and Providence Health & Services opened a joint venture ASC on the Providence Portland (Ore.) Medical Center campus.
16. SurgCenter Development and a group of physicians opened the multispecialty Monocacy Surgery Center in Frederick, Md.
17. Bain Capital Partners and Kohlberg Kravis Roberts & Co. will sell 29.5 million shares of Hospital Corporation of America. The sale is expected to net approximately $1.52 billion.
18. Medical Facilities Corporation announced a cash pay dividend of Cdn$0.09375 per common share for the month of May.
19. Hospital Corporation of America stocks traded at $52.99 per share during the week of May 26 to 30.
20. Medical Facilities Corporation elected seven directors at its annual shareholders' meeting. The directors included:
• David R. Bellaire
• Marilynne Day-Linton
• Gil Faclier, MD
• Irving R. Gerstein
• John T. Perri
• Donald Schellpfeffer, MD
• Seymour Temkin
21. Physicians Endoscopy named Rodger Baca chief development officer. Mr. Baca previously served as a vice president of acquisitions and development at Ambulatory Surgical Centers of America.
22. Barbara Pulliam, BS, CASC, has joined Surgical Management Professionals as vice president of revenue cycle.
23. Medical Facilities Corporation announced that March 2014 marks its 10-year anniversary. Ten years ago, the company made an initial public offering of Cdn$221.7 million.
24. Nueterra launched a new initiative to improve patient satisfaction scores in its surgery centers. Riddle Surgical Center is one of the first centers to incorporate the new pilot program.
25. Regent Surgical Health conducted their 2014 Business Office Managers conference, awarding Robert Wood Johnson Endosurgical Center Administrator Linda Reid BOM of the Year.
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