AmSurg Revenues Increase 11%

AmSurg has announced its financial results for the third quarter ended Sept. 30, with revenues for the quarter of about $196 million, an increase of 11 percent over the third quarter of 2010, according to an AmSurg news release.


Revenues for the first nine months of 2011 increased 8 percent compared to the first nine months of 2010. EBITDA less noncontrolling interests was 16.2 percent of revenues for the third quarter of 2011, compared with 17.9 percent for the third quarter of 2010.


"Our third-quarter results, which included a 1 percent increase in same-center revenue, indicate that the tenor of our business has improved over the past year, despite the continued impact of the weak national economy and persistent high unemployment," said Christopher A. Holden, president and CEO, in the release. "The 11 percent increase in comparable-quarter revenues was produced primarily by 9 percent growth in procedures, as well as by a 3 percent increase in revenue per procedure, which reflected an increasing multi-specialty component in procedure mix. Most of our procedure growth resulted from centers acquired since the third quarter last year."


AmSurg acquired National Surgical Care on Sept. 1. The transaction brought 17 new centers to AmSurg, including 15 multi-specialty centers and two gastroenterology centers.


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