Here’s what you should know:
1. The loss was attributed to the company’s $230,000 expenditure on exploring strategic initiatives.
2. Total revenue increased 26 percent to $9.7 million in 2018.
3. The company’s Melbourne, Fla.-based Crane Creek Surgery Center had a strong quarter, increasing its income to $232,807.
4. The surgery center’s procedure volume increased 17.2 percent to 2,795 procedures in 2018.
5. For the full year to date, adjusted EBITDA was up 87 percent to nearly $1.8 million.
6. First Choice President and CEO Chris Romandetti said, “For the third quarter we are pleased to report net patient service revenue of approximately $9.1 million, a 28 percent increase over [the] prior year. We are pleased to report that our ancillary services continue to show strength across the board, with [physical therapy] visits and imaging increasing 63 percent and 69 percent, respectively. Meanwhile, Crane Creek Surgery Center profitability continues to improve as it generated $232,807 from a loss of $184,924 over same period [the] prior quarter.”
More articles on transactions/valuation:
Texas Digestive Disease Consultants finds PE partner, forms GI practice management company
10 ASC developments costing $10M+ — October 2018
Turkey attacks, in-law mishaps & more: 20 ICD-10 codes to know for Thanksgiving
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
