Surgery Partners Receives Acquisition Proposal from Bain Capital
Deal News | Jan 28, 2025 | Globenewswire
Surgery Partners, Inc., a leading short-stay surgical facility owner and operator, has received a non-binding acquisition proposal from Bain Capital Private Equity, LP. Bain Capital has offered to acquire all the outstanding shares of Surgery Partners for $25.75 per share, excluding those already owned by Bain Capital. The firm and its affiliates currently own approximately 39% of Surgery Partners' common stock. The proposal is subject to approval by shareholders not affiliated with Bain Capital and a Special Committee comprised of independent directors. As of now, no definitive offer has been made and no agreements have been reached. Surgery Partners has cautioned its shareholders that the outcome of the proposal remains uncertain. Surgery Partners is headquartered in Brentwood, Tennessee, and operates more than 200 locations in 33 states. The Company made an announcement regarding the proposal, noting its non-binding nature and the conditions required for any potential transaction to progress.
Sectors
- Healthcare Services
- Private Equity
- Mergers and Acquisitions
Geography
- United States – Surgery Partners is headquartered in Brentwood, Tennessee, and operates over 200 locations across 33 states in the U.S. The acquisition proposal by Bain Capital pertains to a U.S.-based company.
Industry
- Healthcare Services – The article features Surgery Partners, a company that provides healthcare services, particularly in the surgical sector, operating short-stay facilities.
- Private Equity – Bain Capital, a private equity firm, is involved in a potential acquisition of Surgery Partners, highlighting the role of private equity in healthcare investments.
- Mergers and Acquisitions – The article discusses a non-binding acquisition proposal by Bain Capital to acquire Surgery Partners, fitting within the context of mergers and acquisitions activity.
Financials
- $25.75 per share – The proposed cash consideration offered by Bain Capital for each outstanding share of Surgery Partners not already owned by Bain Capital.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Surgery Partners, Inc. | Target Company | Company | A leading healthcare services company specializing in short-stay surgical facilities and related ancillary care. |
| Bain Capital Private Equity, LP | Bidding Company/Buyer | Company | A private equity firm proposing to acquire additional shares of Surgery Partners to take full ownership. |
| Special Committee of Surgery Partners Board | Decision-making Body | Other | A committee of independent directors tasked with evaluating the acquisition proposal with the help of legal and financial advisors. |
| Joele Frank, Wilkinson Brimmer Katcher | PR Advisors | Company | Public relations firm managing media communications for Surgery Partners. |