AmSurg, which acquires, develops and operates ASCs in partnership with physician practice groups, owned a majority interest in 202 centers at the end of 2009.
During the quarter, AmSurg added eight new centers. During the year, it added 14. Its average revenue per center was $863,000 for the 2009 quarter, down from $879,000 in the final quarter of 2008. At the same time, procedures performed during the fourth quarter rose to 310,840 from 282,883 in the 2008 quarter.
Revenue for the quarter rose to $168.6 million from $153.1 million from the prior-year quarter, while net earnings rose to $43.8 million from $40.7 million. For the year, revenue rose 11 percent to $668.8 million, while net earnings rose 9 percent to $181.4 million.
“Same-center revenue increased 1 percent for the fourth quarter, despite the continuing impact of the revised Medicare payment system and an uncertain economic environment,” said AmSurg President and CEO Christopher Holden in a press release. “For the fourth quarter, our revenue growth reflected a 10 percent increase in procedures, which was driven by the addition of 14 centers during the year,” he added.
Five of the acquired centers, affiliated with a large Dallas-area GI group, perform more than 40,000 procedures annually, Mr. Holden said in the release. AmSurg also acquired a large orthopedic center in Phoenix at the end of the fourth quarter, which gives it the two largest orthopedic centers in the Phoenix area.
Read the AmSurg earnings release.
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