Brentwood, Tenn.-based Surgery Partners continues to expand its ASC portfolio while navigating reimbursement pressure, labor costs and strategic growth opportunities.
Here are 10 things to know so far in 2025:
- Surgery Partners reported $776 million in revenue in the first quarter of 2025, up 8.2% from $717.4 million in Q1 2024.
- Adjusted earnings before interest, taxes, depreciation and amortization in Q1 was $103.9 million, up from $97.5 million in the same period last year.
- Same-facility revenue grew 5.2% and case volume 6.5% year over year in Q1, reflecting strong organic growth.
- The company recorded a net loss of $37.7 million in Q1, compared to a net loss of $12.4 million in Q1 2024.
- As of March 31, Surgery Partners had $229.3 million in cash and equivalents and a net debt-to-EBITDA ratio of 4.1x.
- In the second quarter of 2025, Surgery Partners reported $826.6 million in revenue, an 8.4% year-over-year increase.
- Same-facility revenue grew 5.1% and cases rose 3.4% in Q2, while revenue per case increased 1.6%.
- Adjusted EBITDA in Q2 was $129 million, up 9% from the prior year.
- The company posted a net loss of $2.5 million in Q2, compared with $15.5 million in Q2 2024.
10. Surgery Partners reaffirmed its full-year 2025 guidance of $3.3 billion to $3.45 billion in revenue and $555 million to $565 million in adjusted EBITDA.
