Surgery Partners in 2021: 8 updates

In 2021, Brentwood, Tenn.-based Surgery Partners plans to execute on over $400 million of transactions.

Here are eight things ASC leaders need to know:

1. In the first quarter, Surgery Partners revenue jumped 16.2 percent year over year to hit $512.4 million. Same-facility revenue was up 17.1 percent over 2020 first-quarter numbers. 

2. The company added at least 25 percent more physicians to its centers during the first quarter of 2021, compared with the same period in 2020. The same-facility case volume increased 8.8 percent year over year to 135,690 cases, and the number of total joint procedures was up 122 percent.

3. In March, Surgery Partners said it has the capacity to execute on over $400 million of transactions in 2021.

4. The company broke ground on a joint-venture ASC, dubbed the St. Peters (Mo.) Ambulatory Surgery Center and Medical Office Building, in partnership with Ryan Companies US and St. Peters-based Advanced Bone & Joint, in March.

5. Surgery Partners is refinancing $119 million of incremental term loans raised last April during the first surge of COVID-19, the company said April 20. The company expects the transaction to save the company $5 million annually.

6. In September 2020, Surgery Partners sold its anesthesia business to Anesthesia Consulting & Management, known as NorthStar Anesthesia. Surgery Partners turned its focus to the company's short-stay surgical business after the sale.

7. As of March, Surgery Partners reported 127 ASCs in its portfolio.

8. In 2020, Surgery Partners reported $1.86 billion in full-year revenue but still had a net loss of $155.6 million on the year. 

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