Surgery Partners revenue jumps 11.7% in Q1: 7 things to know

Healthcare services company Surgery Partners brought in $666.2 million in revenue during the first quarter of 2023, an 11.7 percent increase from the prior year period.

Six more things to know about the first quarter results, according to a May 1 news release from the company:

1. Same-facility revenue increased 10.3 percent.

2. The net loss attributable to Surgery Partners was $24.9 million, compared with a net income of $12.2 million for the same period last year.

3. The adjusted EBITDA for the quarter was $90.1 million, 17 percent more than the prior year period.

4. The adjusted EBITDA margin increased 60 basis points to 13.5 percent.

5. Surgery Partners had cash and cash equivalents of $245.5 million, and $545.9 million of borrowing capacity under its revolving credit facility on March 31.

6. The company raised the outlook for 2023 adjusted EBITDA, which is now expected to be more than $430 million.

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