Mergers & Acquisitions ·
HealthSpan Partners agrees to acquire Surgery Partners for $23.50 per share in all-cash deal
SGRYSurgery Partners, Inc.
Spyglass Topco, LLC, an affiliate of HealthSpan Partners and Bon Secours Mercy Health, entered into a definitive Agreement and Plan of Merger to acquire Surgery Partners, Inc. in an all-cash transaction valued at approximately $5.7 billion enterprise value. Under the terms, non-affiliated shareholders will receive $23.50 per share in cash, while Bain Capital affiliates will roll over their equity interests in exchange for ownership stakes in the surviving entity. The merger requires approval from Surgery Partners' disinterested stockholders and regulatory clearance under the Hart-Scott-Rodino Act, with closing expected in the first quarter of 2027. Upon completion, Surgery Partners will become a privately held subsidiary and its common stock will be delisted from Nasdaq. Surgery Partners operates a national network of ambulatory surgery centers and surgical hospitals providing outpatient surgical care.