Surgery Partners(NASDAQ) SGRY

Surgery Partners, Inc. NASDAQ:SGRY helps doctors perform medical procedures in local centers instead of large hospitals. These sites provide a place for planned treatments like eye surgery or bone repair. This model helps patients get care closer to home while lowering costs for everyone.

Where Care Happens

• Surgical Facility Services: Provides sites for non-urgent surgeries and diagnostic tests; accounted for 97.3% of total revenues in the second quarter of 2026.
• Ambulatory Surgery Centers: Outpatient facilities where patients receive same-day procedures; consists of 159 locations across 30 states as of June 30, 2026.
• Surgical Hospitals: Specialized medical centers that offer more complex procedures and overnight care; includes 19 facilities as of June 30, 2026.
• Ancillary Services: Support offerings including urgent care, pharmacy, and anesthesia services; accounted for 2.7% of total revenues in the second quarter of 2026.
• Physician Practices: Multi-specialty clinics where doctors consult with patients and order diagnostic screens.

Strategic Shifts and New Sites

• Integrated new facilities into the network following a series of acquisitions completed in late 2025.
• Announced a potential sale of ownership interests in Mountain View Hospital and Idaho Falls Community Hospital to Intermountain Health.
• Expanded existing locations through a focus on same-facility growth and high-acuity surgical procedures.
• Continued development of new "de novo" facilities to grow the national footprint of specialized centers.

Built for Specialized Care

Surgery Partners operates a network of 178 surgical facilities across 30 states as of June 30, 2026. This multi-specialty approach protects the company from price changes in any single medical field.

A Look at the Books

• Total revenues reached $848.9 million in the second quarter of 2026, up 2.7% year over year.
• Days adjusted same-facility revenues rose 5.0% in the second quarter of 2026.
• Non-GAAP Adjusted EBITDA was $125.2 million in the second quarter of 2026, down 2.9% year over year.
• The company reported a net loss of $15.0 million for the quarter ended June 30, 2026.
• Net cash from operating activities was $71.0 million for the six-month period ended June 30, 2026.

Bottom Line

Surgery Partners has evolved into a national leader in outpatient surgical care through physician partnerships and facility acquisitions. Its multi-specialty model and expansion into high-acuity procedures support its scale in the United States healthcare market.