NSH: Surgery Partners Completes Acquisition of National Surgical Healthcare

Combination creates leading independent surgery company with strong musculoskeletal programsBain Capital Private Equity completes acquisition of H.I.G. Capital's stake in Surgery Partners with the NSH closeNASHVILLE, Tenn., Aug. 31, 2017 (GLOBE NEWSWIRE) -- Surgery Partners, Inc. (NASDAQ:SGRY) ("Surgery Partners"), a leading healthcare services company, today announced that it has successfully completed its previously announced acquisition of National Surgical Healthcare ("NSH"), an owner and operator of surgical facilities in partnership with local physicians. On May 9, 2017, Surgery Partners announced a definitive merger agreement under which Surgery Partners would acquire NSH from Irving Place Capital for approximately $760 million. The combination of Surgery Partners and NSH creates an enterprise with 125 surgical facilities across 32 states, with a strong presence in musculoskeletal programs, including orthopedics, pain and spine. In addition, the combined company operates a network of over 5,000 physicians and ancillary services, resulting in a diversified surgical provider."With the addition of National Surgical Healthcare, Surgery Partners has strengthened its position as the nation's largest independent provider of outpatient surgical services. This transaction also enhances our focus on musculoskeletal specialties, where we anticipate significant growth as commercial payors and Medicare look to transition more procedures to the outpatient setting," said Mike Doyle, Chief Executive Officer of Surgery Partners. "I would like to welcome the NSH team and physicians and look forward to working together to further develop our network healthcare services."Financing for the deal ...Full story available on Benzinga.com