SEC Filings

AMSURG CORP filed this Form 10-12G/A on 05/09/1997
Entire Document
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                                                                    May   , 1997
Dear American Healthcorp, Inc. Stockholder:
     Upon the distribution by American Healthcorp, Inc. ("AHC") of the shares of
AmSurg common stock owned by AHC (the "Distribution"), each of you will become
holders of AmSurg Corp. ("AmSurg") Class B common stock, no par value. As an AHC
stockholder you have indirectly owned an interest in AmSurg because it has
operated as a majority-owned subsidiary of AHC since 1992. As a result of the
Distribution, AmSurg will be an independent public company with the ability to
develop, finance and manage its business separately from AHC. We appreciate your
past support of AmSurg and would like to welcome you as a direct stockholder in
AmSurg at this exciting moment in the company's history. We expect to continue
our business as a leader in the development, acquisition and operation of
practice-based ambulatory surgery centers. We believe the Distribution will
position us to maximize our growth potential.
     AmSurg was formed in April 1992 for the purpose of developing, acquiring
and operating practice-based ambulatory surgery centers, in partnerships with
physician practice groups, throughout the United States. Each of the surgery
centers provides a narrow range of high volume, lower-risk surgical procedures,
generally in a single specialty, and has been designed with a cost structure
that enables AmSurg to charge fees which management believes are generally less
than those charged by hospitals and freestanding outpatient surgery centers for
similar services performed on an outpatient basis. While the majority of
AmSurg's existing ambulatory surgery centers specialize in gastroenterology,
AmSurg's growth strategy focuses on the development and acquisition of
practice-based ambulatory surgery centers and the development of start-up
specialty physician networks in five specialties: gastroenterology,
ophthalmology, orthopaedic surgery, urology and otolaryngology.
     Several trends in the healthcare industry, including the continued
penetration of managed care into the healthcare arena and the importance of
market share growth in maintaining and increasing profits, have led AmSurg to
expand its growth strategy to include the development of specialty physician
networks. AmSurg believes that it can strengthen its position with managed care
organizations through the development of single specialty physician networks in
combination with practice-based ambulatory surgery centers strategically located
throughout a medical market area.
     We are excited about operating AmSurg as an independent publicly traded
company and the opportunities for future development and growth of our business.
We expect these opportunities to translate into greater value to you and all
AmSurg stockholders.
                                          /s/ KEN P. MCDONALD
                                          Ken P. McDonald