Surgical Care Affiliates released its fourth quarter and full year results.
Here are 17 things to know:
1. SCA total net operating revenue increased nearly 24 percent in the fourth of 2015, reaching $305.9 million, compared to $247.2 million during same period of 2014.
2. The company added seven new facilities in the fourth quarter and opened one de novo facility. Of the new facilities, six are consolidated, one is non-consolidated and one is management-only.
3. Since the fourth quarter ended, SCA acquired one new facility and converted one management-only relationship into an equity investment. One of those facilities includes the Center for minimally Invasive Surgery in Chicago, focusing on complex spine and joint replacement. The ASC includes 17 independent surgeons and 72 hour recover care center.
4. In the fourth quarter, SCA acquired Arise Healthcare as a strategic partnership, aligning the company with more than 100 physicians in the Austin, Texas, marketand positioned four surgical facility acquisitions for long-term growth.
5. In the fourth quarter of 2015, systemwide net operating revenues rose 20 percent compared to the fourth quarter of 2014.
6. Net income attributable to SCA was $1.3 million for the fourth quarter of 2015, compared to $17.9 million for the fourth quarter of 2014. The drop, in part, is attributed to SCA's debt refinancing, higher tax expense due to greater taxable income, an adjustment related to year-end deferred tax analysis and a rise in income attributable to non-controlling interests.
7. SCA's net income for the fourth quarter reached $27.8 million, slightly down from $27.9 million in the fourth quarter of 2014.
8. The company's EBITDA reached $54.2 million for the fourth quarter of 2015, up nearly 13 percent from $48 million in the same period the year prior.
9. For the fourth quarter of 2015, SCA's net cash provided by operating activities totaled $69.1 million, up $14.7 million from the fourth quarter of 2014.
10. The company exited nine facilities in the fourth quarter of 2014, four of which were managed-only and two were merged with other facilities to create better operating efficiency. Three of the exited facilities were marginal economic contributors.
11. SCA's total net operating revenues reached $1.1 billion for the full year 2015, up 21.6 percent from $864.7 million in 2014.
12. For the full year 2015, systemwide net operating revenue increased 18.3 percent compared to the year prior.
13. Net income attributable to SCA was $115.3 million for the fiscal year 2015, up from $32 million in 2014.
14. SCA's net income was $81.6 million for the fiscal year 2015 compared to $81.5 million in 2014.
15. For the full year 2015, SCA's EBITDA increased nearly 12 percent to $175.3 million.
16. SCA's net cash provided by operating activities reached $263.2 million for the fiscal year 2015.
17. In 2015, SCA added 22 new facilities. As of Feb. 15, 2015, SCA is affiliated with 194 facilities.
"We are pleased with our clinical, strategic, and financial performance. Patient care is our first priority, and our success is driven by our outstanding physicians and teammates that continue to achieve strong clinical quality and patient satisfaction results," said Andrew Hayek, chairman and CEO, SCA.
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