What you should know:
1. Surgery Partners took out nearly $113 million from its revolving credit facility in March — which it has repaid — took another $120 million in April and now plans to take on $115 million more in debt, which will mature in 2027.
2. While Surgery Partners suffered from severely decreased volumes in April, May and June saw the management company’s figures recover when the company hit 74 percent and 93 percent of its pre-COVID-19 volumes, respectively.
3. Revenue-per-case from high-acuity patients also increased 11 percent.
4. Surgery Partners expects to use the money from the latest round of debt sales to support general corporate purposes, possible service line expansions, physician recruitment, and potential IT investments and practice acquisitions.
More articles on surgery centers:
Hybrid ASC is up and running with 43 cardiac partners: 6 things to know
Florida ASC closes real-estate sale-leaseback transaction: 4 details
Ohio health system acquires surgery center for $21M
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.