Since 2004, Nashville, Tenn.-based Surgery Partners has managed surgery centers throughout the nation with a physician-centric mentality.
Here are 10 things to know about the ASC management company.
1. The management company has expanded its offering through two acquisitions over the years. Surgery Partners merged with Trumball, Conn.-based NovaMed in 2011 for $214 million, adopting a focus on ophthalmology services. NovaMed operated a series of joint venture ASCs.
In 2014, the ASC management company acquired Symbion for $792 million, growing its portfolio to more than 100 multispecialty facilities throughout 28 states.
2. Surgery Partners owns and operates 96 ASCs throughout the country as well as physician-partnered hospitals, physician practices and ancillary service facilities. The majority of the company's facilities are in the Eastern and Midwestern portions of the United States. The company also has a significant number of facilities in the Los Angeles area as well.
3. Michael Doyle is the company's CEO. He has been with the company since the beginning and played a pivotal role in its expansion. Prior to joining Surgery Partners, Mr. Doyle had more than 20-years experience leading outpatient ventures.
4. Six other people make up Surgery Partner's management team:
- Teresa F. Sparks, CFO
- Jennifer Baldock, senior vice president and general counsel
- John Crysel, national group president
- George Goodwin, American group president
- Anthony Taparo, Atlantic group president
- Chris Toepke, group president and ancillary services
5. Surgery Partners facilities continue to focus on ophthalmology, but the company has since expanded its offerings to offer services including orthopedics, pain management, general surgery and anesthesia.
6. In January 2017, Surgery Partners opened its newest ASC, an ophthalmology-facing facility in Beverly Hills, Calif. The ASC is 12,000 square feet. The center marks the ASC management company's second surgery center within the Beverly Hills region.
7. Ten guiding principles serve as the foundation of the company. Surgery Partners states the principles serve as the "driving force behind our people and the day-to-day rhythm of each of our facilities." The principles include:
- Act with integrity
- Have a plan
- Take ownership
- Focus with passion
- Show up and never quit
- Do not blame or judge
- Pitch in
- Be big, not little
- Laugh and celebrate
- Be grateful
8. Surgery Partners reported earnings of $0.21 per share, according to the company's Nov. 10, 2016 filing. The company made $282.70 million in revenue for the third quarter. The company increased its revenue per share by $0.17 from 2015 to 2016.
9. Concerning its portfolio as of Feb. 7, 2016, Surgery Partners has a 52-week low of $11.76 and a 52-week high of $20.93. The company has a market cap of $955.53 million.
10. Surgery Partners is set to release its fourth quarter 2016 and full year earnings on March 9, 2017.
Surgery Partners is a sponsor of the Becker's 15th Annual Spine, Orthopedic and Pain Management-Driven ASC Conference + The Future of Spine event, June 22-24, 2017 in Chicago. ASC physicians, administrators and industry experts will speak on the latest businss, regulatory and economic trends - to learn more and register for the event, click here.