Surgery Partners, Inc. (NASDAQ: SGRY)

Surgery Partners, Inc. owns and operates a national network of surgical facilities and ancillary services. The company delivers an integrated outpatient delivery model that provides high quality cost effective surgical and related ancillary care to patients and physicians.

The company generates revenue primarily from facility fees for health care services performed in its surgical facilities, which are included in patient service revenues. It also earns management fees from non consolidated surgical facilities for management services provided, reported as other service revenues. Revenue is received from private insurance payors, government programs such as Medicare and Medicaid, self pay patients and other sources.

The company operates through the following segment: Surgical Facilities.

• Surgical Facilities includes the operation of ambulatory surgery centers, short stay surgical hospitals, anesthesia services, urgent care facilities and multi specialty physician practices. The segment provides nonemergency surgical procedures across specialties such as orthopedics and pain management, ophthalmology, gastroenterology and general surgery.

Surgery Partners, Inc. is one of the largest and fastest growing surgical services businesses in the United States. The company operates more than 200 locations across 30 states, giving it significant scale and national prominence. Its competitive advantages include a strong reputation, an integrated outpatient delivery model, a physician engagement strategy that attracts independent physicians, and strategic partnerships with health care systems and private insurance payors. Key competitors in the industry include HCA Healthcare, Inc., AMSURG Corp., Tenet Healthcare Corporation and Optum, Inc.

The company serves patients undergoing surgical procedures and physicians who use its facilities for cases. Its revenue is derived from private insurance payors, government programs such as Medicare and Medicaid, self pay patients and other sources.