Same-Store Net Revenue Growth
Same-store net revenue for the third quarter improved by 6% year-over-year, primarily driven by rate growth as net revenue per adjusted admission was up 5.6% year-over-year.
Reduction in Leverage
The company reduced its leverage to 6.7x, down from 7.4x at year-end 2024, and refinanced $1.743 billion of Senior Secured Notes due 2027, pushing out the nearest significant maturity to 2029.
Increase in Employed Physicians and Advanced Practice Providers
The company had approximately 160 more employed physicians and advanced practice providers in clinics as of September 30, 2025, compared to the prior year.
Adjusted EBITDA Growth
Adjusted EBITDA for the third quarter was $376 million, a significant increase from $347 million in the prior year period, with a margin expansion of 100 basis points year-over-year.
Positive Free Cash Flow Expectations
The company remains confident in achieving positive free cash flow for the full year 2025, after adjusting for cash taxes paid on divestiture gains.