Here are 10 key facts on AmSurg, one of the largest ambulatory surgery center companies.
1. The company's fourth quarter 2013 revenue was $284.6 million, a 17 percent increase from the same period in 2012. Net earnings from continuing operations attributable to company common shareholders was $19.3 million, a 24 percent increase from $15.6 million the fourth quarter of 2012.
2. Christopher A. Holden is the CEO, president and director of AmSurg. He has been with the company since 2007. Prior to his current roles, Mr. Holden held leadership positions with Triad Hospitals and Columbia/HCA Healthcare.
3. In the fourth quarter of 2013, AmSurg experienced a 22 percent increase in fourth quarter earnings per diluted share. "This increase reflected 10 percent growth in procedures, mainly attributable to centers acquired in the prior year," said Mr. Holden, according to a company report.
4. AmSurg revenue rose 17 percent in 2013 to $1.08 billion. Net earnings from continuing operations attributable to AmSurg common shareholders were $72.7 million, an increase of 17 percent.
5. AmSurg owns and operates 242 centers and partners with more than 1,800 physicians across the United States, as of December 31, 2013.
6. AmSurg typically owns 51 percent of a center and physicians will own 49 percent. While AmSurg holds majority ownership, centers are governed by an operating board with equal representation of the company and physician owners.
7. AmSurg focuses on the development and partnership of single specialty ASCs between 3,000 and 4,000 square feet. The company generally concentrates on five core specialties: gastroenterology, ophthalmology, orthopedics, ENT and urology.
8. AmSurg offers de novo ASC development services. Since the company inception, it has built more than 125 new surgery centers.
9. AmSurg acquired six centers in 2013 and completed an additional acquisition in January. There acquisitions are expected to generate $20 million in annualized operating income.
10. The company anticipated a number of complex and large acquisitions to close in 2013, but these are now expected to reach completion in 2014. "We continue to expect AmSurg, which owns and operates the most ambulatory surgery centers in the country, to benefit from strong demographic trends, better access to healthcare and increasing demand for high quality care in the most cost effective venue," said Mr. Holden, according to a company report.
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