Fri, Mar 7, 11:05 AM (50 days ago)
**Surgery Partners, Inc. (SGRY) 2024 10-K Summary** For the fiscal year ending December 31, 2024, Surgery Partners, Inc. reported revenues of approximately $3,114.3 million, marking a 13.5% increase from $2,743.3 million in 2023. Despite this growth, the company experienced a net loss of $168.1 million, up from a loss of $11.9 million the previous year, driven by increased operating expenses and transaction costs. Adjusted EBITDA rose 16% to $508.2 million. The company operates a network of 161 surgical facilities, with a focus on outpatient services, and has a diversified revenue stream, with 53.5% of patient service revenues from private insurance and 41.1% from government payors. Operating expenses totaled $2,765.5 million, including significant costs related to acquisitions and integration. Key strategic initiatives include expanding physician partnerships and enhancing operational efficiencies. The company faces risks from regulatory changes, competitive pressures, and rising labor costs. As of December 31, 2024, Surgery Partners had $269.5 million in cash and $501.5 million available under its revolving credit facility, indicating a solid liquidity position amidst ongoing capital expenditures and acquisitions.