Surgery Partners reported its fourth quarter and 2015 financial results.
Here are 10 things to know:
Full company results
1. Net revenues for the fourth quarter reached $263.3 million, up 46.5 percent from the same period in 2014. For the full year, net revenues increased 138 percent hitting $959.9 million, up from $403.3 million for 2014.
2. The company's same-facility revenue rose 13.5 percent to $272 million. For the full year, same-facility revenue hit $994.3 million, up 10.7 percent from $898.1 million from 2014. Same-facility case growth increased 5.2 percent for 2015.
3. For the quarter, Surgery Partners adjusted EBITDA reached $43.8 million, a 41.2 percent increase from the fourth quarter of 2014. The company's adjusted EBITDA was $158.1 million for the full year, up from $77 million in 2014.
4. As of Dec. 31, 2015, the company had cash and cash equivalents of $57.9 million, and had a net operating cash flow of $5.7 million for the fourth quarter.
5. In October 2015, Surgery Partners completed is initial public offering, bringing in gross proceeds of $271.4 million.
6. Surgery Partners added an ASC in North Dakota, an integrated physician practice featuring multiple locations and two ASCs in Georgia, as well as two anesthesia platform companies during the fourth quarter.
7. The company added a physician practice in Florida and an urgent care facility in Louisiana during the quarter. Surgery Partners opened a new surgical hospital in Great Falls, Mt.
8. As of Dec. 31, 2015, Surgery Partners opened or operated 101 surgical facilities and had a network of 46 physician practices.
9. Surgery Partner predicts revenue to fall in the range of $1.1 billion to $1.14 billion in 2016.
10. The company expects EBITDA to be between $184.0 million and $191.0 million this year.
More healthcare news:
From pre-op to post-op: A team-based approach to adding TJR to an ASC
Humana, Ohio orthopedic groups partner on value-based care model: 6 things to know
Eastern Massachusetts Surgery Center receives small business award: 5 key notes