What Surgery Partners has done in 2024

Brentwood, Tenn.-based ASC operator Surgery Partners has established itself as a leader of the outpatient surgery market and is the third-largest ASC operator in the U.S.

Surgery Partners manages more than 180 outpatient surgery centers and ancillary clinics nationwide, with a presence in 32 states, according to its website. In February, Surgery Partners partnered with Fort Wayne, Ind.-based Parkview Health to develop ASC joint ventures across the state. However, the company does not intend to stop there.

"In addition to the strength of our quarter, we closed on a number of targeted acquisitions in late April, including a large system acquisition that includes a specialty surgery hospital, ASC and physician practices," Surgery Partners CEO Eric Evans said in the company's first quarter earnings call May 7. 

During the call, the company reported 165 affiliated surgical facilities, compared to 145 a year prior. It is also affiliated with more than 4,600 physicians, further solidifying its place as the third-largest ASC operator nationwide. 

Its first quarter revenue was $717 million, an increase of 7.7% compared to its $666 million revenue in the first quarter of 2023. It also saw a 10.2% increase in same-facility revenues, through an 8.8% increase in revenue per case and a 1.3% increase in same-facility cases.

In May, Surgery Partners formed a strategic partnership with New York City-based Gramercy Park Digestive Disease Center. The digestive group has two ASCs and is one of the largest independent endoscopy providers in the area. 

Looking ahead, the company intends to maximize further growth.

"Our year-to-date acquisitions, robust de novo pipeline, as well as execution on all of our key growth levers gives us confidence in our continued future growth," Mr. Evans said. 

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