AmSurg announced first quarter revenue increased 14 percent in 2013 to $260.1 million, with net earnings from continuing operations attributable to the company's common shareholders was $17.8 million. However, the same center revenue declined by 2 percent. According to Christopher A. Holden, President and CEO of AmSurg, the decline is primarily a result of two fewer business days during the first quarter than last year.
In 2012, the company acquired 17 centers, 14 of which were in the fourth quarter, and opened a de novo center. During the first quarter of 2013, the company entered into a joint venture with a hospital system, which helped drive the overall revenue increase. By the quarter's end, the company reported operating 241 centers and added three centers under a letter of intent.
The company expects sequestration and reductions from the State of California's workers' compensation reimbursement to negatively impact same-center revenue over the next year.
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