Surgery Partners, Inc. Confirms Receipt of Non-Binding Acquisition Proposal from Bain Capital
Surgery Partners (NASDAQ: SGRY) has received a non-binding acquisition proposal from Bain Capital Private Equity to purchase all outstanding shares not already owned by Bain Capital for $25.75 per share in cash. Bain Capital and its affiliates currently own approximately 39% of the Company's outstanding common stock.
A Special Committee of independent directors will evaluate the proposal with independent financial and legal advisors. The proposed transaction would require approval from both a majority of non-Bain Capital shareholders and a Special Committee of independent directors.
The company emphasizes that no decisions have been made regarding the proposal, and there is no guarantee that a definitive offer will be made or that any transaction will be completed.
Surgery Partners (NASDAQ: SGRY) ha ricevuto una proposta di acquisizione non vincolante da parte di Bain Capital Private Equity per acquistare tutte le azioni in circolazione non già possedute da Bain Capital al prezzo di 25,75 $ per azione in contante. Bain Capital e le sue affiliate possiedono attualmente circa 39% delle azioni ordinarie in circolazione della Società.
Un Comitato Speciale di amministratori indipendenti valuterà la proposta con consulenti finanziari e legali indipendenti. La transazione proposta richiederebbe l'approvazione sia da parte della maggioranza degli azionisti non-Bain Capital sia da parte di un Comitato Speciale di amministratori indipendenti.
La società sottolinea che non sono state prese decisioni riguardo alla proposta e non c'è alcuna garanzia che venga presentata un'offerta definitiva o che venga completata una qualsiasi transazione.
Surgery Partners (NASDAQ: SGRY) ha recibido una propuesta de adquisición no vinculante de Bain Capital Private Equity para comprar todas las acciones en circulación que aún no posee Bain Capital a 25,75 $ por acción en efectivo. Bain Capital y sus afiliados poseen actualmente aproximadamente 39% de las acciones ordinarias en circulación de la Compañía.
Un Comité Especial de directores independientes evaluará la propuesta con asesores financieros y legales independientes. La transacción propuesta requeriría la aprobación tanto de la mayoría de los accionistas que no son de Bain Capital como de un Comité Especial de directores independientes.
La empresa enfatiza que no se han tomado decisiones respecto a la propuesta y que no hay garantía de que se presente una oferta definitiva ni de que se complete ninguna transacción.
Surgery Partners (NASDAQ: SGRY)는 Bain Capital Private Equity로부터 Bain Capital이 아직 소유하지 않은 모든 미발행 주식을 현금으로 주당 25.75 달러에 인수하겠다는 비구속 인수 제안을 받았습니다. Bain Capital와 그 계열사는 현재 회사의 발행된 보통주 약 39%를 소유하고 있습니다.
독립 이사로 구성된 특별 위원회가 독립적인 재무 및 법률 자문과 함께 제안을 평가할 것입니다. 제안된 거래는 Bain Capital이 아닌 주주와 독립 이사들의 특별 위원회의 승인이 필요합니다.
회사는 제안에 대한 결정을 내린 것이 없으며, 최종 제안이 이루어지거나 어떤 거래가 완료될 것이라는 보장이 없음을 강조합니다.
Surgery Partners (NASDAQ: SGRY) a reçu une proposition d'acquisition non contraignante de Bain Capital Private Equity pour racheter toutes les actions en circulation déjà non détenues par Bain Capital pour un montant de 25,75 $ par action en espèces. Bain Capital et ses affiliés détiennent actuellement environ 39% des actions ordinaires en circulation de la société.
Un Comité spécial de directeurs indépendants évaluera la proposition avec des conseillers financiers et juridiques indépendants. La transaction proposée nécessiterait l'approbation à la fois de la majorité des actionnaires non affiliés à Bain Capital et d'un Comité spécial de directeurs indépendants.
La société souligne qu'aucune décision n'a été prise concernant la proposition, et qu'il n'y a aucune garantie qu'une offre définitive sera faite ou qu'aucune transaction sera réalisée.
Surgery Partners (NASDAQ: SGRY) hat ein unverbindliches Übernahmeangebot von Bain Capital Private Equity erhalten, um alle ausstehenden Aktien, die noch nicht im Besitz von Bain Capital sind, zum Preis von 25,75 $ pro Aktie in bar zu erwerben. Bain Capital und seine Tochtergesellschaften besitzen derzeit etwa 39% der ausstehenden Stammaktien des Unternehmens.
Ein Sonderausschuss unabhängiger Direktoren wird das Angebot gemeinsam mit unabhängigen Finanz- und Rechtsberatern prüfen. Die vorgeschlagene Transaktion würde die Zustimmung sowohl der Mehrheit der nicht-Bain Capital Aktionäre als auch eines Sonderausschusses unabhängiger Direktoren erfordern.
Das Unternehmen betont, dass keine Entscheidungen bezüglich des Angebots getroffen wurden und dass es keine Garantie dafür gibt, dass ein endgültiges Angebot gemacht wird oder dass eine Transaktion abgeschlossen wird.
- Potential acquisition offer at $25.75 per share in cash
- Special Committee of independent directors to evaluate proposal
- Non-waivable condition requiring majority approval from non-Bain Capital shareholders
- Proposal is non-binding with no guarantee of completion
- Significant ownership concentration with Bain Capital already holding 39% of shares
Insights
Bain Capital's bid to take Surgery Partners private marks a pivotal moment in the ambulatory surgery center (ASC) sector. The
Several key factors make this proposal particularly noteworthy: First, Bain's existing
The proposal's timing is strategic, coinciding with:
- Growing shift toward outpatient procedures accelerated by value-based care initiatives
- Increasing private equity interest in healthcare services
- Potential cost synergies through operational optimization
The deal structure includes robust minority shareholder protections through:
- Non-waivable majority-of-minority approval requirement
- Independent Special Committee review
- Potential for competing bids during the review process
While the
BRENTWOOD, Tenn., Jan. 28, 2025 (GLOBE NEWSWIRE) -- Surgery Partners, Inc. (NASDAQ: SGRY) (“Surgery Partners” or the “Company”), a leading short-stay surgical facility owner and operator, today announced that its Board of Directors (the “Board”) received a non-binding proposal, dated January 27, 2025, from Bain Capital Private Equity, LP (“Bain Capital”) to acquire all of the outstanding shares of Surgery Partners not already owned by Bain Capital for a cash consideration of
A Special Committee of independent directors of the Board is expected to consider the Bain Capital Proposal with the assistance of independent financial and legal advisors.
The Bain Capital Proposal indicates that any potential transaction would be subject to a non-waivable condition requiring the approval of the holders of a majority of the shares of Common Stock that are not owned by Bain Capital and its affiliates, and the approval of a fully empowered Special Committee comprised solely of independent and disinterested directors.
The Company cautions its shareholders and others considering trading in its securities that no decisions have been made with respect to the Company's response to the proposal. The Bain Capital Proposal is non-binding and there can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required by applicable law.
About Surgery Partners
Headquartered in Brentwood, Tennessee, Surgery Partners is a leading healthcare services company with a differentiated outpatient delivery model focused on providing high-quality, cost-effective solutions for surgical and related ancillary care in support of both patients and physicians. Founded in 2004, Surgery Partners is one of the largest and fastest growing surgical services businesses in the country, with more than 200 locations in 33 states, including ambulatory surgery centers, surgical hospitals, multi-specialty physician practices and urgent care facilities. For additional information, visit www.surgerypartners.com.
Forward-Looking Statements
This press release contains forward-looking statements, including, but not limited to, expectations regarding the proposed transaction and the formation of a Special Committee. You are cautioned not to rely on any forward-looking statements and reminded that the Bain Capital Proposal is non-binding and there can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated. The Company undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
Contacts
Investors
Surgery Partners Investor Relations
(615) 234-8940
IR@surgerypartners.com
Media
Matt Sherman / Jed Repko / Ed Trissel
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
SGRY-Media@joelefrank.com
FAQ
What is the per-share price offered in Bain Capital's proposal to acquire SGRY?
What percentage of Surgery Partners (SGRY) does Bain Capital currently own?
What conditions must be met for the SGRY acquisition to be approved?
When did Surgery Partners (SGRY) receive the acquisition proposal from Bain Capital?
Is Bain Capital's proposal to acquire SGRY a binding offer?
