Here are five updates on ASC management companies from the past week.
AmSurg leaders hosted a GI Research Summit to develop hypotheses and guidelines for research into the company's GIQuIC data, which passed 1 million records in February.
Pismo Beach, Calif.-based SurgCenter Development and physician investors partnered to open Grand Rapids Surgical Suites, a 6,600-square-foot ASC in Grand Rapids, Mich. The center offers orthopedic, oculoplastic and otorhinolaryngology surgery.
Dallas-based Tenet Healthcare Corp. reported a double-digit increase in ambulatory net operating revenue during the fourth quarter of fiscal year 2016. Tenet's ambulatory segment generated $478 million in net revenue, up 20.4 percent from Q4 fiscal year 2015. The segment had an adjusted EBITDA of $183 million, a 15.8 percent, $158 million increase from Q4 2015.
Tenet's quarterly revenues fell 3.3 percent to $4.86 billion. For the first time in six years the company missed analyst estimates of $4.96 billion. Tenet shares fell 10 percent on the news Feb. 28, 2017.
Greenwood Village, Colo.-based Envision Healthcare Corp. reported its fourth quarter and fiscal year 2016 results, with quarterly revenues of $1.39 billion during its quarterly review. Envision's ambulatory services division reported $326.7 million in net revenues for Q4. The company's 2015 Q4 revenues were $326.2 million. Envision's 2016 EBITDA was $240.1 million, a 6.1 percent increase over 2015.
If you have a question, issue or note to suggest on an ASC management and development company please contact Mary Rechtoris at mrechtoris@beckershealthcare.com.