Below is a brief note from CEO Keith McCullough on why we're adding Surgery Partners (SGRY) to the short side of Investing Ideas today:
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One of our latest Best Idea Shorts (Institutional Research product) is Surgery Partners (SGRY). Here's an excerpt to the intro on that short idea from Tom Tobin's Healthcare team: "While we like the macro trend of inpatient surgeries moving to low-cost ambulatory surgical centers (ASCs), Surgery Partners (SGRY) is not the horse we want to bet on. SGRY's ASC portfolio is low quality compared to peers USPI/THC and SCAI/UNH, and it does not have the balance sheet capacity to make the acquisitions necessary to improve payer and case mix." KM |
