Welcome to our dedicated page for Surgery Partners news (Ticker: SGRY), a resource for investors and traders seeking the latest updates and insights on Surgery Partners stock.
Surgery Partners, Inc. (NASDAQ: SGRY) is a healthcare services company headquartered in Brentwood, Tennessee, focused on short-stay and outpatient surgical care. News about Surgery Partners often centers on its performance as a short-stay surgical facility owner and operator, its financing activities, and developments across its network of ambulatory surgery centers, surgical hospitals, multi-specialty physician practices and urgent care facilities.
Investors following SGRY news can expect regular quarterly earnings announcements that discuss revenue growth, same-facility revenues, case volumes, Adjusted EBITDA and liquidity. These releases frequently include guidance ranges for full-year revenues and Adjusted EBITDA, along with commentary from management on operational execution, portfolio performance and the company’s long-term growth approach.
In addition to earnings, Surgery Partners’ news flow includes updates on capital structure and debt financing. Recent items have described the issuance and pricing of 7.250% senior unsecured notes due 2032 through its subsidiary, Surgery Center Holdings, Inc., as well as amendments to its credit agreement that introduce refinancing term loans and revolving credit commitments. These developments are relevant for understanding the company’s funding strategy and leverage profile.
Strategic and partnership news is another key theme. For example, Surgery Partners has announced a joint venture with Baylor Scott & White Health to jointly own a 16-bed hospital in Bryan, Texas, known as The Physicians Centre Hospital. This facility offers a broad range of surgical services, including bariatric, orthopedic, ophthalmologic, gastroenterological, podiatric, spinal and urologic procedures, along with general, plastic and reconstructive surgery, sports medicine, pain management and radiology services.
Governance and leadership updates, such as changes in board roles, executive appointments and resignations, are also disclosed through news releases and Form 8-K filings. For ongoing insight into SGRY, this news page aggregates company-issued announcements, financial updates and material events reported to the SEC.
Surgery Partners, a leader in surgical services, will be featured at two major healthcare conferences. CEO Eric Evans and CFO Tom Cowhey will present at the Bank of America Merrill Lynch Healthcare Conference on May 11, 2021, at 9:30 a.m. ET, and at the RBC Capital Markets Global Healthcare Conference on May 18, 2021, at 9:45 a.m. ET. Interested investors can access a live webcast via the company’s Investor Relations website, with replays available afterward. With over 180 locations across 30 states, Surgery Partners continues to be a significant player in the healthcare sector.
Surgery Partners (NASDAQ:SGRY) reported a 16.2% increase in revenues to $512.4 million for Q1 2021, driven by a 17.1% rise in same-facility revenues and an 8.8% increase in case volume. Despite a net loss of $31.3 million, Adjusted EBITDA surged 57% to $72.9 million, with guidance raised to at least $320 million for 2021. The company refinanced $1.55 billion in term loans, extending maturity to 2026 and saving over $7 million annually in cash interest. Liquidity remains strong with $541.9 million in cash. The company expects revenue growth of 18% to 20% for 2021.
Surgery Partners (NASDAQ:SGRY) announced plans to refinance $119 million in incremental term loans and convert Series A preferred stock into approximately 22.609 million common shares on May 17, 2021. The company projects first quarter 2021 revenues to exceed $505 million with an adjusted EBITDA of at least $70 million, benefiting from CARES Act grants. Surgical case volumes are estimated at 125,000, with same-facility revenues expected to rise by 16-17%. The projected adjusted EBITDA for 2021 is at least $315 million.
Surgery Partners, Inc. (NASDAQ:SGRY) will release its Q1 2021 financial results on May 5, 2021, before market opening. A conference call will follow at 8:30 a.m. Eastern Time for investors to discuss the outcomes. Interested parties can join via dial-in numbers or through a webcast on the company's investor relations webpage. Surgery Partners, headquartered in Brentwood, Tennessee, operates over 180 surgical facilities across 30 states, focusing on high-quality, cost-effective outpatient care. More details are available on their website.
Surgery Partners (NASDAQ: SGRY) reported Q4 and full-year 2020 results with revenues of $548.3 million in Q4, up 6%, and a net loss of $4.8 million. Adjusted EBITDA rose 7.6% to $90.8 million. For the full year, revenues increased 1.6% to $1.9 billion, but net loss widened to $155.6 million. The company successfully recruited over 560 physicians in 2020 and closed an equity offering in February 2021, raising nearly $250 million. Looking ahead, Surgery Partners projects 2021 revenue growth of 18% to 20% and an Adjusted EBITDA of approximately $315 million.
Surgery Partners (NASDAQ:SGRY) announced the appointment of Dr. Patricia A. Maryland as an independent director, effective immediately. This addition expands the Board to nine members. Dr. Maryland brings 40 years of healthcare administration experience, most recently as executive vice president at Ascension, overseeing a vast network of hospitals and care facilities. She is recognized for her leadership in healthcare and has served on multiple boards. The company looks forward to leveraging her expertise to enhance patient care and drive growth.
Surgery Partners (NASDAQ:SGRY), a leader in outpatient surgical services, will announce its Q4 2020 results on March 10, 2021, before market opening. A conference call will follow at 8:30 a.m. ET, available for live access and replay. Interested parties can listen via the company's website, enhancing investor engagement. With over 180 locations nationwide, Surgery Partners continues to expand in the healthcare sector, emphasizing cost-effective surgical care and ancillary services.
Surgery Partners, Inc. (Nasdaq: SGRY) announced the pricing of a public offering of 7,500,000 shares of common stock at $30.25 per share, with expected gross proceeds of approximately $226.9 million. The offering includes a 30-day option for underwriters to purchase an additional 1,125,000 shares. Net proceeds will be used for general corporate purposes, including funding acquisitions and repaying debt. The offering is expected to close on February 1, 2021. J.P. Morgan Securities LLC and Jefferies LLC are the lead managers.
Surgery Partners (Nasdaq: SGRY) announced a public offering of 6,000,000 shares of common stock, all to be sold by the company. An additional 900,000 shares may be offered at the underwriters' discretion. The offering's completion is subject to market conditions. Proceeds will be used for general corporate purposes. J.P. Morgan and Jefferies serve as lead managers, with Barclays and others as joint managers. This offering follows a filed automatic shelf registration statement with the SEC, effective January 25, 2021.
Surgery Partners has announced its participation in the 2021 J.P. Morgan Healthcare Conference, providing full-year 2020 revenue guidance of approximately $1.86 billion and reaffirming Adjusted EBITDA guidance between $250 million and $260 million. For 2021, the company projects an Adjusted EBITDA of around $315 million, aiming to restore double-digit growth rates based on a pre-COVID baseline. However, these projections are subject to adjustments, and actual results may differ significantly due to customary financial closing procedures.