October 3, 2023

CVSA Reports Fiscal Q4-2023 Results

Record revenue and Compensation-Per-Partner (CPP) driven by volume and higher reimbursements

DENVER, COLORADO - Cardiovascular Surgical Associates, P.C. (CVSA) announced financial results for its fiscal fourth quarter of 2023 (FQ4-2023) ended September 30, 2023 today. The Company posted all-time records in quarterly revenues of $16.3 million, up 23% year-over-year, and net earnings of $8.2 million, up 42% year-over-year. Compensation-per-Partner hit an all-time record of $563,000. Additionally, a bonus pool of $2.4 million has been set aside for distribution to its clinical and administrative practitioners. “We are extremely pleased to see our clinical affiliations grow and our rate increases are indicative of the quality of surgical first assisting that we bring to the table for the most complex surgical cases,” said CEO & Managing Partner, Katie Stevens, DNP.

“Our ability to drive record compensation to our partners and clinical staff demonstrates the efficacy of CVSA’s business model and ability to retain and grow our most important asset - our surgical talent base. We feel that this type of compensation will only help us bring more of the best Surgical First Assistants, and Operating Room Scrub Nurses, and other Ancillary Staff to the team to continue to grow our prestigious platform. Additionally, the returns we are providing to our Private Equity sponsor tops their portfolio and reinforces their capital commitment to sustain and grow the business”, said Jennifer Stroyan, CVSA’s CFO and Director of Investor Relations.

CVSA’s biggest talent priority in the near-term will be APP Surgical Clinicians in Abdominal Transplant Surgery. Read More.