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 (NASDAQ: SGRY) announced the pricing of $115 million in senior unsecured notes due 2027, offered at 100.75% of principal. The closing is expected on July 30, 2020, subject to customary conditions. The funds will be utilized for general corporate purposes, including service line expansions and potential acquisitions. The notes are backed by guarantees from the issuer's domestic subsidiaries. This offering is part of a series that includes $430 million of similar notes issued in April 2019.
Surgery Partners (NASDAQ: SGRY), a leader in surgical facilities, is set to announce its Q2 2020 results on August 5, 2020, before market opening. A conference call will follow at 8:30 a.m. ET. Investors can participate via phone or join a live webcast on their Investor Relations website. Surgery Partners operates over 180 facilities across 30 states, emphasizing cost-effective surgical care.
Surgery Partners (SGRY) reported a revenue increase of 5.8% year-over-year to $441.0 million for Q1 2020. Adjusted revenues rose 6.0% to $450.6 million, while days adjusted same-facility revenues grew 0.9%. However, the company experienced a net loss of $37.0 million and an 8.3% decline in adjusted EBITDA to $46.5 million, attributed mainly to COVID-19-related cancellations. Surgery Partners maintained $194.6 million in cash and liquidity support measures were implemented amidst the pandemic, including a $120 million term loan amendment.
Surgery Partners (NASDAQ: SGRY) announced a virtual format for its 2020 annual stockholders meeting to prioritize health during the COVID-19 pandemic. The meeting is scheduled for May 27, 2020, at 8:00 a.m. CDT, and will allow stockholders of record as of April 9, 2020, to participate remotely. Stockholders are encouraged to vote in advance and can join the meeting using their control number and the password SGRY2020. Surgery Partners operates over 180 locations across 30 states, focusing on high-quality surgical services.
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