Issue link: https://beckershealthcare.uberflip.com/i/956253
26 JOINT VENTURES USPI Revenue Jumps 6.9% in Q4: 12 Things to Know By Eric Oliver T enet Healthcare reported its fourth quarter 2017 financial results. Here are 12 key findings. Ambulatory segment - United Surgical Part- ners International 1. Net operating revenues were $545 million for the quarter, up 14 percent year over year. 2. Adjusted EBITDA hit $223 million, a 21.9 percent increase from the fourth quarter of 2016. 3. USPI's same-facility systemwide revenue increased 6.9 percent for the quarter. 4. Same-facility cases increased 4.6 percent for the quarter. Full company 5. Net losses from continuing operations attributable to Tenet shareholders were $230 million, an increase when compared to the $79 million in net losses for the same period in 2016. 6. Adjusted EBITDA totaled $840 million, a year-over-year increase. Hospital operations and other segment 7. Net operating revenues were nearly $4.18 billion, up 3.4 percent year over year. 8. Tenet's patient revenue increased 6.1 per- cent year over year to $4.13 billion. 9. Adjusted EBITDA was $538 million. 2018 outlook 10. Tenet raised its yearlong outlook. e company expects revenue between $17.9 bil- lion and $18.3 billion for 2018. 11. Tenet expects net income attributed to shareholders between $95 million and $105 million. 12. e company expects to post adjusted diluted earnings between $0.73 to $1.07 per share for 2018. Tenet Executive Chairman and CEO Ronald Rittenmeyer said, "Our results for the fourth quarter were strong in each of our business segments. Volume growth returned in our hospital and ambulatory segments, cost controls were tight, and our financial results at USPI and Conifer were very strong. Our cost control program is off to a great start and, when combined with improved finan- cial performance in the fourth quarter, we are raising our outlook for adjusted EBITDA and adjusted EPS for 2018." n Chinese Company Makes $300M Equity Investment in miVIP ASC Chain: 4 Things to Know By Laura Dyrda C hinese company Shanghai Hongxiao Science and Technology made an equity investment in miVIP and Oband, an outpatient surgery center network focused on robotically assisted minimally inva- sive surgeries. Here are four things to know: 1. Shanghai Hongxiao made a $300 million investment in the ASC chain. The investment includes an initial payment and future earnouts. The centers are known for using da Vinci Robotic Surgical Systems in the outpatient setting. 2. Isaac Verbukh, MD, founded miVIP in 2006 and grew the company from a single location to six ASCs and more than 80 surgeons. The centers host a variety of proce- dures, such as ENT, gastroenterology, joint replacement, orthopedics, spine surgery, urology and pain manage- ment. 3. Aaron Capital served as the investment bank in the transaction, with Tong Liu, Robert Smith and Roman LeFranc working with Dr. Verbukh throughout the process. The group conducted preparatory activities, worldwide company marketing, due diligence and negotiations, ultimately choosing Hongxiao to become the company's partner. 4. Hongxiao was an attractive partner for miVIP because it supports an aggressive expansion plan in the U.S. and worldwide. n