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First Surgical Partners Inc. (FSPI) Updates Public on Company Operations

First Surgical Partners, Inc. released an announcement today to provide updates on its current operations.

The company, which provides non-emergency surgeries through two ambulatory surgery centers and a general acute care hospital, increased its total case volume to 3,137 in the sixth month period ending on June 30th. These numbers represent a 3.1% increase in volume over the same period last year. During this sixth month period, First Surgical also added three new physician partners, bringing the total surgical staff to 37. First Surgical anticipates having approximately 45 physician partners by the end of 2011.

In the fourth quarter of 2011, First Surgical plans to convert its existing ambulatory surgery centers to a hospital outpatient department. The company expects that its average net revenue per case will increase to approximately $8,970 through this development, up 17% from last year’s numbers.

To date, First Surgical has distributed over $2.6 million in dividends to its shareholders. The ongoing dividend policy of First Surgical will be determined by its board of directors. There is no guarantee that future dividends will be announced.

Finally, the company filed a S-1 Registration Statement with the U.S. Securities and Exchange Commission on August 19, 2011. This was declared effective as of September 9, 2011. The S-1 Registration Statement relates to the resale of 7,878,128 shares of First Surgical’s common stock held by existing shareholders.

“Becoming a public company is an important step in the evolving history of First Surgical, and we are pleased to achieve this latest milestone,” stated Dr. Jacob Varon, Chairman of First Surgical. “Going forward, we will focus on expanding our network of surgical centers and physician partners to broaden our market reach. With the ongoing industry shift from inpatient to outpatient surgery, our robust pipeline of new facilities, and our reputation for providing top-quality care, we are strongly positioned to deliver long-term sales and earnings growth.”

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