United Surgical Partners International has announced its fourth quarter and year-end financial results. Here are eight things to know from the report.
1. USPI reported net revenues of $174.7 million for the fourth quarter, up 6 percent from $164.9 million in the fourth quarter of 2013.
2. The company's operating income for the fourth quarter increased 5 percent from $81.9 million in the prior year period to $86.1 million.
3. USPI had cash flows from operating activities of $51.7 million for the fourth quarter, up from $31.8 million in 2013.
4. USPI's net revenues for 2014 increased 4 percent from $616.2 million in 2013 to $640.8 million this year.
5. Operating income for 2014 was $269.8 million, up 2 percent from $263.8 million in the prior year period.
6. Cash flows from operating activities were $211.6 million for 2014, compared to $159.9 million in 2013.
7. USPI acquired interest in two centers during the fourth quarter and interests in 10 facilities during the course of 2014.
8. "We were pleased to end the year with solid volume, revenue and earnings growth. We also had a very successful year from a development perspective, deploying approximately $150 million in new opportunities. Our development pipeline for new facilities and health system partners remains quite strong. We believe our core competencies and strategic relationships with prominent health systems and physician groups across the country position us well to be part of the solution, as the need for high value ambulatory and short-stay services continues to grow," said CEO William H. Wilcox.