Bon Secours Nears $6B Takeover of Surgery Partners
SGRY sits 38% above its 52-week low of $11.41.
Summary
Bon Secours is close to a roughly $6 billion takeover of Surgery Partners, per the FT, which would take the Bain-backed surgical facility operator private. That is a large premium to the company's current ~$2.1B market cap, implying a deal price well above the $15.80 share price. The company has been reshaping its balance sheet, closing a $797M sale of Idaho Falls facilities to Intermountain Health in September and announcing a $795M hospital sale alongside Q2 results. A take-private at this scale would end SGRY's public listing and likely trigger a sharp move in the shares.
At the time of this announcement, SGRY was trading at $15.80 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $2.1B. The 52-week trading range was $11.41 to $23.44. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Reuters.