Greenwood Village, Colo.-based Envision Healthcare Corp. reported its fourth quarter and fiscal year 2016 results, with quarterly revenues of $1.39 billion.
Nashville, Tenn.-based AmSurg and Greenwood, Colo.-based Envision Healthcare Holdings formed Envision Healthcare Corp. following its merger agreement in December 2016. The following financial results include AmSurg's results for the 12 months ended Dec. 31, 2016, and Envision Healthcare Holdings' results from Dec. 1 to Dec. 31, 2016.
Here are 18 takeaways:
Q4, FY 2016 ambulatory services
1. Envision's ambulatory services division reported $326.7 million in net revenues for Q4. Its 2015 Q4 revenues were similar at $326.2 million.
2. Same center revenue increased 3.4 percent in 2016 compared to a 0.6 percent increase in 2015.
3. For 2016, ambulatory services generated $1.27 billion in revenue, a 3.1 percent increase over 2015.
4. Envision's ambulatory services 2016 EBITDA was $240.1 million, a 6.1 percent increase over 2015.
Q4 results
5. The company's net revenues totaled $1.39 billion.
6. Envision reported a net loss of $137.8 million in related costs for its merger with AmSurg.. Envision also had a $221 million impairment charge related to the phase-out of the Sheridan trade name, transaction, integration and debt extinguishment costs. Sheridan was AmSurg's physician services division.
7. The company's net earnings were $92 million.
8. The company's EBITDA was $208.7 million.
Physician Services
9. Envision reported $865.8 million in total revenue for Q4 FY 2016, increasing over the $378.1 million in the prior year's period. Envision Healthcare Holding's $347.9 million contribution drove this significant growth. The EHH deal led to a 34.3 percent increase in physician services revenue in Q4.
10. Adjusted EBITDA related to physician services was $120.5 million in Q4.
11. For FY 2016, Envision reported $2.23 billion in net revenues and $366.3 million EBITDA.
FY 2016
12. Envision reported $3.7 billion in net revenues, consisting of $3.15 billion related to AmSurg and $546 million from Greenwood Village, Colo.-based Envision Healthcare Holdings.
13. Envision reported a $27.7 million net loss.
14. The company's adjusted net earnings were $266.7 million.
15. Envision's EBITDA was $631 million.
FY 2017 Guidance
16. Envision expects revenues between $10.4 billion to $10.7 billion for FY 2017.
17. The company expects same-contract revenue growth:
- For physician services between 3 percent and 4 percent;
- For ambulatory services between 2 percent and 3 percent.
18. Envision anticipates EBITDA for FY 2016 between $1.3 billion and $1.4 billion.