July 19, 2024
CVSA Announces Record Results and Highest Ever Compensation-Per-Partner for Fiscal Q2-2024 Driven by Volume and Rate; On-Track for IPO
DENVER, COLORADO - Cardiovascular Surgical Associates, P.C. (CVSA) announced financial results for its fiscal second quarter (FQ2-2024) ended June-2024 today. The Company posted all-time records in quarterly revenues of $22.6 million, up 34% year-over-year, and net earnings of $12.0 million, up 48% year-over-year. Projected annualized Compensation-per-Partner is estimated to hit an all-time record of $612,000. Additionally, a bonus pool of $3.0 million has been set aside for distribution to its clinical and administrative practitioners. Revenue and Profitability growth records were attributed to increased volume and rate increases in its Cardiothoracic segment.
The Neuro-Spine First-Assist segment continues to show solid growth with rapid uptake and throughput with its clinical partners. CVSA also announced it will be entering the Trauma Surgery vertical in Q4 providing First-Assist services with three prominent L1 Trauma Centers. “We continue to believe that a highly-focused strategy on complex surgical care with highly-talented practitioners is the winning strategy in today’s healthcare landscape. Surgeons want familiarity and ‘A-Team’ first-assists when tackling their most challenging cases. Our expansion into L1 Trauma Surgery is one that we have been preparing for and look forward to a full launch in Q4. Our investors continue to be thrilled with our performance and we remain on track for a 2025 IPO”, said CEO & Managing Partner, Katie Stevens, DNP.
