Business
Surgery Partners, Inc. Announces Fourth Quarter and Full Year 2021 Results; Raises 2022 Guidance
Net loss attributable to common stockholders was $0.1 million for the fourth quarter 2021; $81.2 million for the full-year 2021 Fourth quarter 2021 Adjusted
About this update from Surgery Partners, Inc.
[{"type":"text","content":"Net loss attributable to common stockholders was $0.1 million for the fourth quarter 2021; $81.2 million for the full-year 2021 Fourth quarter 2021 Adjusted EBITDA increased 26.0% over the prior year period to $114.4 million, inclusive of an $11.6 million benefit from the recognition of CARES Act grantsFull-year 2021 Adjusted EBITDA increased 32.3% over the prior year period to $339.6 million, inclusive of a $25.3 million benefit from the recognition of CARES Act grants Revenues increased 11.3% to $610.2 million in the fourth quarter 2021 and 19.6% to $2.2 billion in the full-year 2021, when compared to the comparable periods in 2020 Days adjusted same-facility revenues increased 9.6% in the fourth quarter 2021 versus 2020, including case volume growth of 4.2%Days adjusted same-facility revenues increased 18.1% in the full-year 2021 versus 2020, including case volume growth of 17.6% Adjusted EBITDA for 2022 expected to be in a range of $370 million to $380 million BRENTWOOD, Tenn., Feb. 28, 2022 (GLOBE NEWSWIRE) -- Surgery Partners, Inc. (NASDAQ:SGRY) (\"Surgery Partners\" or the \"Company\"), a leading provider of surgical services, today announced results for the fourth quarter and full year ended December 31, 2021. Wayne DeVeydt, Executive Chairman of the Board of Surgery Partners, noted, “Our financial results for the fourth quarter and full year 2021 continue to reflect the strength and resiliency of our business model. As the migration of high acuity surgical cases continues to our lower cost, high quality setting, we are poised to continue to capitalize on these broad industry trends and remain optimistic about achieving sustainable double-digit Adjusted EBITDA growth.” Eric Evans, Chief Executive Officer, stated, “With revenue growth of 11% in the fourth quarter and nearly 20% for the year, we are reporting growth consistent with our expectations and returning to pre-pandemic levels. Our teams remain focused on providing a superior product to our patients and physicians as we continue to make investment in our core capabilities including physician recruitment, building new, high-acuity service lines, and effectively managing our supply chain which have collectively helped us navigate through this pandemic. On a same-facility basis, net revenue grew nearly 10% in the quarter and 18% for the year, giving us significant mom...