USPI driving growth for Tenet as hospital revenues shrink & more — 8 ASC company key notes

Here are eight updates on ASC and industry-relevant companies to note.

Dallas-based Tenet reported $230 million in net losses in 2017, yet net operating revenues for Tenet's ambulatory subsidiary, United Surgical Partners International, increased 14 percent to $545 million for the fourth quarter of 2017.

Hurst, Texas-based Cook Children's Northeast Hospital will close as a hospital April 20, and become an ASC soon thereafter, through a joint venture involving Cook Children's, NueHealth and local physicians.

Envision Healthcare, the owner and operator of 264 surgery centers across the nation, reported $132.6 million in net income for the fourth quarter of 2017.

Surgery Partners CEO Wayne DeVeydt discussed the company's 2017 performance during a quarterly earnings conference call, laying the groundwork for additional physician alignment, recruitment and potential payer partnerships in the future. The company reported general revenues of $460.3 million, same-facility revenues of $492.8 million and net losses of $40 million for the fourth quarter of 2017.

The California State Rural Health Association named Surgery Partners' Regional Director of Operations Raymond Hino its 2018 president.

Physicians Endoscopy is promoting Colon Cancer Awareness Month through a series of outreach initiatives.

MedEquities Realty Trust reported its fourth quarter 2017 financial results, posting $5.8 million in net income attributable to shareholders.

NextGen Healthcare is in the midst of launching a new logo and brand identity that'll focus on EHRs, population health-based analytics, clinical care solutions and financial solutions in the ASC space.

More articles on transactions/valuations:
11 ASC quality statistics for Q3 2017
Surgery Partners to focus on value creation in 2018: 5 quotes from CEO Wayne DeVeydt
49% of anesthesiologists take more than 3 weeks of vacation and 4 other statistics

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