Surgery Partners reports $1.9B in 2020 revenue: 7 things to know

Surgery Partners reported fourth quarter and full-year revenues for 2020 on March 10, posting $548.3 million and $1.9 billion of unadjusted revenues, respectively.

Seven updates:

1. Surgery Partners' quarterly adjusted revenues increased 8.5 percent from $520.7 million to $564.7 million.

2. Despite the increase, Surgery Partners realized a 3.2 percent decrease in same-facility case volume for the quarter.

3. For the full year, adjusted revenues increased 2.4 percent from $1.86 billion to $1.9 billion. COVID-19 heavily affected same-facility case volume that dropped 13.7 percent.

4. Surgery Partners posted a net loss of $155.6 million in 2020, up from $110.5 million in 2019.

5. Surgery Partners has $317.9 million in cash and $112.5 million in cash equivalents at the end of 2020.

6. Surgery Partners expects to grow its revenues between 18 percent and 20 percent and projects an adjusted EBITDA of $315 million in 2021.

7. At the end of 2020, Surgery Partners had 127 surgical facilities, down from 128 in 2019.

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