Amsurg Corp was formed in 1992. The Company owns and operates short stay ambulatory surgery centers or "ASC"s in the United States. The Company acquires, develops and operates ASCs through the formation of strategic partnerships with physicians to serve the communities in its markets. The Company has developed its operating model to encourage physicians to affiliate with them. It operates 242 surgery centers in 34 states and the District of Columbia. As of December 31, 2013, 151 of its centers performed gastrointestinal endoscopy procedures, 48 centers were multi-specialty centers, 36 centers performed ophthalmology surgery procedures and seven centers performed orthopaedic procedures. The Company market its surgery centers directly to patients, referring physicians and third party payors, including health maintenance organizations, or "HMO"s, preferred provider organizations, or "PPO"s, other managed care organizations, and employers. The Company competes with hospitals and other surgery centers in recruiting physicians to utilize its surgery centers, for patients and for the opportunity to contract with payors. The healthcare industry is subject to extensive regulation by a number of governmental entities at the federal, state and local level.
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