Issue link: https://beckershealthcare.uberflip.com/i/527742
23 Transactions & Joint Ventures A mSurg reported a huge net revenue in- crease in the first quarter of 2015, with both ambulatory services same-center revenues and physician services contract organic growth exceeding expectations. Here are 15 things to know about AmSurg's finan- cial report: 1. Net revenue was up 12 percent to $570.4 mil- lion in the first quarter. 2. The company completed four acquisitions in the first quarter — two ambulatory surgery cen- ter, two radiology groups and an anesthesia prac- tice servicing one of the ASCs. 3. Adjusted EBITDA was $93.8 million, a 104 per- cent increase over the same period last year. 4. The ambulatory services net revenue increased 9 percent to $283.9 million. 5. Same-center revenue grew 3.6 percent over the same quarter last year. 6. AmSurg ended the quarter with 248 centers with one new center acquired and a second center ob- tained through a new joint venture partnership. 7. There were seven centers under a letter of in- tent at the end of the first quarter, and two centers under development with one center expected to open this year. 8. The net revenue from physician services was $286.5 million for the first quarter, with the nor- mal seasonal impact of higher salaries and ben- efits during the first quarter. 9. The comparable-quarter revenue growth for phy- sician services was 14.2 percent, broken down to: • Same contract revenues: 5.2 percent • Net new contract revenues: 2.3 percent • Acquisition revenues: 6.7 percent 10. Contract organic growth in net revenues was 9 percent for the first quarter, with a 6.6 percent in- crease in same contract revenues and 2.4 percent increase in new contract revenues. 11. The same contract revenue growth was com- prised of a 3.3 percent increase in patient encoun- ters and 3.3 percent increase in net revenue per patient encounter. 12. The company reported cash and cash equiva- lents at $116.2 million and has $300 million avail- able under its revolving credit facility. 13. The company updated revenue guidance for the full year, now expecting revenue to reach $2.46 billion to $2.49 billion. 14. The 2015 same-center revenue is expected to increase 2 percent to 3 percent for ambulatory services and the contract organic revenue growth is expected at 6 percent to 8 percent in physician services. 15. The adjusted EBITDA is projected at $454 million to $460 million for the entire year. n The New Emergency Medical Kit for Ambulatory Surgery Centers Medications are tracked for expiration and automatically replaced to maximize shelf-life and ensure readiness. For a complete list of contents, please visit StatKit.com/StatKit750 Life-Saving Equipment, Medications & Training Since 1970 888-STAT KIT | StatKit.com or contact your dealer • Complete set of medications • Designed to help meet accreditation standards • Always up to date 9407 v.1 03/2015 STAT KIT ® 750 AmSurg Net Revenue Jumps 12%, Growth Exceeds Expectations — 15 Key Notes By Laura Dyrda Nobilis Health Acquires Victory Healthcare Plano Hospital: 4 Things to Know By Carrie Pallardy Nobilis Health has agreed to acquire Victory Healthcare Plano (Texas) Hospital. Here are four things to know about the transaction. 1. No cash will be exchanged in the transaction. Nobilis will fully acquire the surgical hospital for the assumption of $5.5 million in equipment leases and $7 million in bank debt. 2. Victory Healthcare Plano Hospital houses 25 beds and six operat- ing rooms. 3. The acquisition was motivated by Nobilis' desire to grow its in- network revenue. "Our surgical center in Dallas is near capacity and this acquisition continues the company's strategic plan for 2015 to acquire additional in-network hospital capacity for our providers, patients and branded procedures," said Nobilis CEO Chris Lloyd. 4. Nobilis owns and manages ambulatory and acute care facilities. The company has centers in Dallas, Houston and Scottsdale, Ariz. n