AmSurg Reports Fourth-Quarter Net Earnings Per Diluted Share From Continuing Operations Of $0.44 Including NSC Transaction Costs Of $0.02

Christopher A. Holden, President and Chief Executive Officer of AmSurg Corp. (NASDAQ: AMSG), today announced financial results for the fourth quarter and year ended December 31, 2011. Revenues for the fourth quarter were $223,336,000, an increase of 22% from $183,371,000 for the fourth quarter of 2010. Net earnings from continuing operations attributable to AmSurg common shareholders were $13,697,000, or $0.44 per diluted share, for the fourth quarter of 2011 compared with $13,183,000, or $0.43 per diluted share, for the fourth quarter of 2010. Adjusted net earnings from continuing operations per diluted share attributable to AmSurg common shareholders were $0.46 for the fourth quarter of 2011, which excluded transaction costs of $0.02 related to the National Surgical Care (“NSC”) transaction. The results for the fourth quarter of 2011 included an incremental negative impact of $0.01 per diluted share from the revision of the Medicare payment system for ASCs. The operations of the acquired NSC centers contributed $0.04 per diluted share to net earnings from continuing operations attributable to AmSurg common shareholders for the quarter.

Revenues for 2011 increased 12% to $786,870,000 from $703,439,000 for 2010. Net earnings from continuing operations attributable to AmSurg common shareholders were $51,199,000, or $1.64 per diluted share, for 2011 compared with $51,144,000, or $1.67 per diluted share, for 2010. Adjusted net earnings from continuing operations per diluted share attributable to AmSurg common shareholders were $1.71 for 2011, which excluded NSC transaction costs of $0.07. The results for 2011 included an incremental negative impact of $0.05 per diluted share from the revision of the Medicare payment system for ASCs and $0.07 per diluted share from the higher interest costs related to the refinancing of the Company’s credit facility in May 2010 and a higher effective tax rate. The operations of the acquired NSC centers contributed $0.05 per diluted share to net earnings from continuing operations attributable to AmSurg common shareholders for 2011.

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