1986: It all Started with a Napkin
In 1986, co-founders David Manning and Rodney Lunn spent a year of Saturdays developing a business plan that centered on surgery center development. Then with the business plan and a budget sketched out on an iced tea napkin, Manning and Lunn quit their jobs to pursue their entrepreneurial dream by launching Practice Development Associates (PDA).
From 1986 to 1992, AMSURG’s predecessor company consulted on the development of more than 75 surgery centers and around the country.
1992: AMSURG is Created and Establishes Dominance in Endoscopy Centers
Tom Cigarran, then President and Chief Executive Officer (CEO) of American Healthcorp [now known as Healthways, Inc. (NASDAQ: HWAY)], along with American Healthcorp Chief Financial Officer (CFO) Henry Herr, played a strong role in structuring an initial capital investment by American Healthcorp and a group of private equity investors from Nashville in 1992. Concurrent with the capital infusion, the entity formally became AMSURG Corp., and its focus shifted away from surgery center consulting services towards development of a single specialty equity partnership model.
Building on PDA’s reputation in the gastroenterology (GI) community, AMSURG formed numerous endoscopy center partnerships. Since 1994, AMSURG has been the leading operator of GI endoscopy centers.
1997: AMSURG Goes Public
AMSURG became a public company listed on the NASDAQ exchange on December 3, 1997, after it was spun off from its former parent American Healthways, Inc. [formerly American Healthcorp, Inc., now known as Healthways Inc. (NASDAQ: HWAY)]. The primary purpose of the spinoff was to give AMSURG the capital it needed to continue to finance an aggressive growth strategy.
During 1997, AMSURG added 15 new centers, ending the year with 39 total centers in operation. As detailed in the first Annual Report, “AMSURG strengthened its position as the undisputed leader in the physician practice-based ambulatory surgery center business.”
1999-2000: AMSURG Revenues Top $100 Million for the First Time, and AMSURG Becomes a Leader in Ophthalmology Surgery Centers
In April 1999, AMSURG announced its first multiple center acquisition deal with a letter of intent to purchase majority ownership of 11 eye surgery centers affiliated with Physicians Resource Group, Inc. (PRG). At the time, PRG was one of the leading operators of practice-based eye surgery centers. Completion of the transaction in January pushed AMSURG’s ophthalmology business reach to 24 centers with a corporate revenue of $143,261,000.
By year-end 1999, the company had 63 ambulatory surgery centers (ASCs) in operation and had posted double-digit increases in same-center revenues for two straight years. This growth in both the number of ASCs and level of productivity per center pushed overall company revenues to more than $100 million.
After reaching $100 million in revenues and becoming a leader in both Gastroenterology and Ophthalmology Centers, 2000 Forbes honor AMSURG on its annual list of “Best Small Companies.” In 2000, AMSURG ranked 139th and then improved its ranking to 79 the following year.
Within two years of the recognition from Forbes, AMSURG reached a major milestone by acquiring its 100th center during the third quarter of 2002.
Since 2006, AMSURG has been the largest ASC provider, by number of centers, in the industry.
2007: Chris Holden is Named AMSURG President and CEO
In October 2007, Chris Holden joined AMSURG in as President, Chief Executive Officer (CEO) and Director. Chris brought a new range of health care industry sector experiences and proven large-scale management expertise to the AMSURG senior management team.
AMSURG also launched a multispecialty ASC acquisition strategy in 2007, resulting in a four-fold increase in AMSURG’s multispecialty surgery center portfolio since that time.
2008: AMSURG Centers Reach One Million Procedures Performed
2008 marked the first time in company history that more than one million procedures were performed at AMSURG centers during a single year. Exceeding one million procedures also pushed company revenues to more than $600 million in 2008 and made it clear that the “small company” tag was becoming increasingly less accurate.
2010: StopColonCancerNow Goes Live
As AMSURG expanded its leadership position in GI endoscopy centers, it became a major force in helping drive participation rates for screening colonoscopies to new heights by the end of the 2000s. So in 2010, AMSURG launched our first consumer-facing awareness campaign: StopColonCancerNow. At its launch, StopColonCancerNow has more than 8,000 followers on Facebook and Twitter, and the campaign has received hundreds of millions impressions. StopColonCancerNow also sponsors National Screening Day, an annual campaign to get patients to have their first colon cancer screening on the first Friday in March, which is Colon Cancer Awareness Month. In its first year National Screening Day saw more than 1,000 first-time screened.
2011: AMSURG Acquires National Surgical Care and Launches New Tools for Centers
On August 24, 2011, CEO Chris Holden announced the acquisition of National Surgical Care (NSC), based in Dallas, Texas. The NSC acquisition added 16 centers and further diversified AMSURG’s ASC portfolio, substantially increasing its presence in the multi-specialty segment.
2011 was also a big year at AMSURG in terms of new capabilities, culminating with the launch of Center Connect, an administrative/communications portal for Center Leaders and staff. Center Connect marked a significant improvement in terms of both user experience and access to new content since all AMSURG resources, tools and targeted communications could now be accessed in one central location.
2012: Establishes Health System Strategy
Throughout the years, AMSURG had occasionally collaborated with hospitals and health systems to own and operate ASCs, although it had not been a focus. With the increasing pace of health care reform, AMSURG established a more formal program to seek strategic and synergistic partnerships with hospitals and health systems in 2012. Recognizing that each situation is unique, AMSURG has a flexible approach that assesses the advisability and suitability of partnering with a hospital or health system in each individual market the company currently serves or may serve in the future. AMSURG remains fully committed to partnering with physician-owned surgery centers that may wish to remain independent of hospital affiliations, while also acknowledging the value of exploring the strategic potential of aligning with hospital or health system partners under suitable circumstances.
2014: AMSURG Joins Forces with Sheridan Healthcare
The merger of AMSURG and Sheridan created a new powerhouse in health care that combines a strong national presence, leading market positions in multiple service lines and extensive local market expertise. The combined companies offer an unparalleled suite of solutions to help health systems executives navigate the changing health care landscape.
2016: Envision Healthcare and AMSURG Merge
The combination of Envision Healthcare and AMSURG brought together two leading, complementary healthcare companies to form one of the nation’s largest provider organizations, well positioned to help shape the future of healthcare delivery. Envision Healthcare manages a highly differentiated suite of clinical solutions to support health systems, communities and payors, is composed of a significantly diversified business mix of specialties, customers and geographies, and provides a broader continuum of patient care.