USPI Net Revenue Increases 3.5% in Fourth Quarter, EBITDA Up 3.2% for the Year

United Surgical Partners International has announced its results for the fourth quarter and year ended Dec. 31, 2010, with the company reporting an increase in consolidated net revenues of 3.5 percent to $154.2 million compared with $149.0 million in the prior year period.

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For the quarter, adjusted EBITDA (less noncontrolling interests) was $55.4 million compared with $51.8 million in the prior year period.

 

USPI saw systemwide revenue growth of 13 percent, consisting of 8 percent U.S. same-facility revenue growth and the remainder being due to acquisition activity.

 

For the year ended Dec. 31, 2010, consolidated net revenues were $576.7 million compared with $593.5 million in the prior year and adjusted EBITDA (less controlling interests) was $200.2 million as compared with $194.0 million in the prior year period.

 

The financial results for the year were driven by systemwide revenue growth of 7 percent, consisting of 5 percent U.S. same-facility revenue growth and the remainder being due to acquisition activity.

 

During 2010, USPI added 27 facilities and completed the sale of its interest in three facilities. The company sold its subsidiary, American Endoscopy Services, in December.

 

As of Dec. 31, 2010, USPI had six facilities under development, of which five were under construction.

 

Read the news release about the financial results of USPI (pdf).

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