Average Surgery Center Debt/Leverage Ratios for ASCs With More Than 50% Orthopedics

Here are the average and median debts and leverage ratios for surgery centers that perform more than 50 percent of the case volume in orthopedics, according to VMG Health’s 2009 Intellimarker.

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1. Total debt (all interest-bearing debt outstanding)

  • Average — $1.50 million
  • Median — $1.17 million

2. Net debt (total debt less cash on balance sheet)

  • Average — $1.40 million
  • Median — $1.44 million

3. Total debt/assets*

  • Average — 41.9 percent
  • Median — 35.4 percent

4. Total debt/equity

  • Average — 150.8 percent
  • Median — 67.3 percent

5. Total debt/EBIDTA

  • Average —1.56x
  • Median — 0.60x

6. Net debt/assets*

  • Average — 41.2 percent
  • Median — 50.6 percent

7. Net debt/equity

  • Average — 177.8 percent
  • Median — 184.9 percent

8. Net debt/EBIDTA

  • Average — 2.05x
  • Median — 1.01x

*Ratios and percentages are calculated as total/net debt divided by total assets, equity or EBIDTA.

To receive a free copy of VMG Health’s 2009 Intellimarker, click here.

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