AmSurg earned $13.1 million in the second quarter of 2010, down from $13.8 million in the second quarter of 2009. Revenues were $179,895,000 for the quarter, an increase of 7 percent from $168,844,000 for the second quarter of 2009.
“AmSurg’s operating and financial results for the second quarter continued to reflect the impact of a challenging economic environment for the ASC industry,” said Christopher A. Holden, president and CEO of AmSurg Corp. in the news release. “We are pleased that our second-quarter performance improved over the first quarter of 2010.
“However, consistent with our guidance and prior-quarter experience, same-center revenues were down 2 percent,” said Mr. Holden, according to the release. “Total procedures increased 3 percent for the quarter due to the 13 acquired or de novo centers added since the beginning of the second quarter last year, including one center that was acquired in the quarter just ended. This procedure growth, together with a procedure mix-driven increase in average revenue per procedure, accounted for the 7 percent growth in second-quarter revenues from the second quarter last year. “
AmSurg’s 204 ASCs had an average revenue of $884,000 for the three months ended June 30, and performed a total of 324,504 during that period, an average of 1,591 procedures.
AmSurg expects to open one ASC in early 2011, and expects to acquire a total of 13-16 centers for all 2010.
“Demographic trends clearly support sustained long-term growth in GI, ophthalmology and other types of procedures that are performed in our centers,” Mr. Holden said in the press release. “In addition, under healthcare reform, millions of people previously underserved by the healthcare system will have new or enhanced access to these types of services. We expect that the freestanding ASC industry, with a proven record of providing high quality care in the most affordable modality, will play a significant role in meeting this demand.”
Read the news release on the second quarter financial results for AmSurg.
