Fresh off almost $1 billion of acquisitions in 2015, Amsurg is still looking for physician groups and ambulatory surgery centers to buy, CEO Christopher Holden said during a fourth-quarter earnings call Wednesday.
The Nashville-based company made three of the biggest acquisitions in the fourth quarter—physician groups in Phoenix and Atlanta that management expects to integrate quickly and contribute to earnings this year, Holden said.
Those physician groups are Valley Anesthesia and Premier Emergency Medical Specialists, both in Phoenix, and Northside Anesthesiology Consultants in Atlanta.
Amsurg has been aggressively buying practices since 2014 when it made the blockbuster acquisition of Sheridan Healthcare, which diversified Amsurg into physician staffing to complement its ownership of more than 250 ambulatory surgery centers today.
Holden said Amsurg has a pipeline of acquisition targets among ambulatory surgery centers, but especially all types of physician groups.
Acquisitions and organic growth contributed to Amsurg beating expectations for revenue and earnings in 2015.
In the fourth quarter, Amsurg posted net earnings attributable to common shareholders of $63.3 million, compared with $25.1 million in the year-earlier quarter. Revenue grew 21% year over year to $704.3 million.
For 2015, Amsurg posted $153.4 million in net income, compared with $49.2 million in 2014. Revenue for the year soared to $2.57 billion from $1.62 billion in 2014.