Brentwood, Tenn.-based Surgery Partners recruited about 700 physicians in 2025, according to a March 4 earnings call transcript from Seeking Alpha.
The company reported $3.3 billion in revenue in 2025 and $526 million in adjusted EBITDA.
Here are six more things to know:
1. The company opened eight de novos in 2025. Four of those facilities opened in the fourth quarter. CEO and Director Eric Evans also reiterated that de novos typically take 12 to 18 months to build and about one year to reach breakeven.
2. Surgery Partners made leadership changes in key facilities. Mr. Evans said the company invested in new leadership at certain facilities. He also highlighted new COO Justin Oppenheimer’s role in supporting turnaround efforts in pressured markets.
3. The company is continuing to push into higher-acuity orthopedics. Mr. Evans said Surgery Partners is working to shift its case mix toward higher-acuity orthopedic procedures, particularly total joints and spine. The company performed more than 42,000 orthopedic cases in the fourth quarter. Total joints grew 15% in the quarter and 19% for the full year.
4. Surgery Partners added to its robotic surgery footprint. The company now has 74 surgical robots in service after adding six in 2025. Mr. Evans said the investment supports more complex procedures as well as physician recruitment and retention.
“We are reaffirming and continuing to execute on expanding our facilities capabilities to deliver high acuity procedures,” he said. “Our investment in robotics and physician recruitment remain core to our strategy of capturing greater high acuity demand.”
5. The company expects to spend at least $200 million on M&A in 2026. Surgery Partners said it plans to deploy at least $200 million in capital toward acquisitions this year.
6. Executives pointed to the Baylor Scott & White joint venture in Bryan, Texas, as a model for future alignment. Mr. Evans described the partnership as the type of health system alignment Surgery Partners wants to pursue through its portfolio optimization strategy.
“This transaction allows us to partner with a leading health system that is well positioned to support long-term growth and physician alignment in the market,” he said.
