The company has a network of more than 200 locations across 33 states as well as more than 4,600 affiliated physicians. As of June 30, Surgery Partners’ ASC network consists of 167 facilities.
Here are five key market notes:
1. Surgery Partners’ revenues increased 14.2% to $762.1 million for the second quarter of 2024.
2. Surgery Partners’ earnings before interest, taxes, depreciation and amortization were $118.3 million, an 18.1% jump year over year. The company’s full-year guidance was also raised to more than $3 billion in revenue and more than $508 million in adjusted EBITDA.
3. Several groups — including UnitedHealth Group, Optum’s parent company — are vying to acquire Surgery Partners. A deal with UnitedHealth is reportedly in its early stages. Private equity firm TPG is another group competing to purchase the company.
4. As more insurers evolve into healthcare companies, such as Oakland, Calif.-based Kaiser Permanente did, as did CVS Health with its acquisition of Aetna, according to the MarketBeat report, “interest in Surgery Partners will continue to grow.”
5. Bain Capital is Surgery Partners’ largest shareholder, with a 39% stake. Surgery Partners went public in 2015. In 2017, it merged with National Surgical Healthcare, at which time Bain acquired HIG Capital’s stake in Surgery Partners.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.