Surgery Partners Maintains Independence Amid Bain Capital Talks
Surgery Partners' Commitment to Independence
Surgery Partners, Inc. (NASDAQ: SGRY), a prominent player in the outpatient surgical facility sector, is making headlines as it confidently continues its journey as an independent entity. The company has recently wrapped up discussions with Bain Capital Private Equity regarding a potential acquisition. This decisive step reaffirms Surgery Partners' commitment to its long-term growth strategy and shareholder value enhancement.
Independent Committee's Resolution
The Independent Committee, composed of independent directors, meticulously evaluated Bain Capital's non-binding proposal aimed at acquiring Surgery Partners' outstanding shares. After careful consideration, supported by independent financial and legal advisors, the team concluded that the prospects for Surgery Partners as a publicly traded company outweighed the proposal's value. This decision underscores the board's confidence in the company's long-term objectives and established growth framework.
A Strengthened Foundation for Growth
Brent Turner, the Chairman of the Independent Committee, expressed confidence in the company’s unique position in the rapidly growing outpatient surgical market. He highlighted the strength of Surgery Partners’ joint venture model and its strong track record in mergers and acquisitions. Turner remarked, "The best path forward is to remain an independent company, leveraging our current solid momentum to drive growth and returns for our shareholders." This renewal of commitment reveals Surgery Partners' ambitious outlook and its plans to enhance its market share.
Strategic Planning for the Future
CEO Eric Evans further elaborated on the company's strong performance, reinforcing its guidance for the year 2025, expecting revenues in the range of $3.30 billion to $3.45 billion, with an Adjusted EBITDA between $555 million and $565 million. Surgery Partners is well-positioned to capitalize on favorable industry trends and regulatory environments, which promise a robust future for the business.
Investor Day Announcement
In an exciting move, Surgery Partners plans to host an Investor Day in the latter half of 2025. This event will provide investors with insights into the company’s future strategies, key industry trends, and how it plans to optimize portfolio performance along with its M&A pipeline. The Investor Day aims to engage with stakeholders and reinforce the company's vision for sustained growth.
Optimism from Bain Capital
Despite not reaching an agreement on the proposed acquisition, Bain Capital remains optimistic about the leadership and growth strategy of Surgery Partners. Bain Capital Partners Andrew Kaplan and Devin O’Reilly expressed their enthusiasm, looking forward to maintaining a collaborative relationship as long-term investors. This sentiment reflects mutual respect and hope for ongoing partnership potential.
About Surgery Partners
Founded in 2004 and based in Brentwood, Tennessee, Surgery Partners stands out as a leader in healthcare services, focusing on providing high-quality and cost-effective surgical solutions. With over 200 locations across 30 states, the company operates ambulatory surgery centers, surgical hospitals, multi-specialty practices, and urgent care facilities, making it one of the fastest-growing surgical services businesses in the United States.
Contacting Surgery Partners
For investor relations inquiries, interested individuals can reach the team at (615) 234-8940 or via email at IR@surgerypartners.com. For media relations, please contact press@surgerypartners.com.
Frequently Asked Questions
What was the main topic of the announcement from Surgery Partners?
The announcement primarily focuses on Surgery Partners' decision to remain independent following discussions with Bain Capital regarding a potential acquisition.
What are the projected revenues for Surgery Partners in 2025?
Surgery Partners expects revenues to be between $3.30 billion and $3.45 billion in 2025, reflecting its confidence in growth.
Who are the key executives mentioned in the article?
Brent Turner, Chairman of the Independent Committee, and Eric Evans, CEO of Surgery Partners, are the key executives highlighted in the article.
What is the significance of the planned Investor Day?
The Investor Day aims to discuss Surgery Partners' future strategies, industry trends, and how it intends to enhance operational efficiencies.
How does Bain Capital view their relationship with Surgery Partners?
Bain Capital expresses optimism about Surgery Partners' future and aims to continue collaborating as long-term investors, despite the lack of an acquisition agreement.
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