HealthSpan Partners agreed to acquire Surgery Partners in a $5.7 billion buyout
HealthSpan Partners, a Bon Secours Mercy Health affiliate, agreed Monday to acquire Surgery Partners Inc. in an all-cash deal with an enterprise value of about $5.7 billion. Shareholders other than Bain Capital affiliates would receive $23.50 a share in cash; Bain, with roughly 39%, agreed to roll over its stake. Closing is expected in Q1 2027, pending approvals.
More context
Under the announced transaction, HealthSpan Partners, affiliated with Bon Secours Mercy Health, would take over Surgery Partners Inc. for an all-cash enterprise value of roughly $5.7 billion; holders other than Bain Capital affiliates are slated to get $23.50 per share. Bain, which holds roughly 39% of Surgery Partners’ outstanding shares, agreed to roll over its equity into the acquiring entity and signed a voting and support agreement. HealthSpan plans to finance the acquisition with cash on hand and new debt, for which it has secured commitments. Closing is expected in the first quarter of 2027, subject to shareholder and regulatory approvals and other customary conditions. Surgery Partners is expected to become privately held while retaining its name, brand and Brentwood, Tennessee, headquarters. It will remain a secular healthcare organization, not a Catholic ministry entity.
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Reporting
- Quartz — Bon Secours Mercy Health affiliate to buy Surgery Partners
- investing.com — HealthSpan Partners to acquire Surgery Partners for $5.7 billion
- citybiz.co — HealthSpan Partners to Acquire Surgery Partners in $5.7 Billion Deal, Taking Company Private | citybiz
- financialcontent.com — HealthSpan Partners to Acquire Surgery Partners, Establishing a Leading Outpatient Surgical Care Platform | FinancialContent
- mcguirewoods.com — McGuireWoods Provides Regulatory Counsel to HealthSpan Partners in Acquisition of Surgery Partners - McGuireWoods
- investing.com — Why is Surgery Partners stock surging today?
- modernhealthcare.com — Bon Secours’ HealthSpan to buy Surgery Partners in $5.7B deal - Modern Healthcare
- bizjournals.com — Brentwood-based Surgery Partners to go private in $5.7 billion deal
Verifier’s note
Quartz, Investing.com, Citybiz, FinancialContent, McGuireWoods, Modern Healthcare, and the Nashville Business Journal report or confirm that Bon Secours Mercy Health affiliate HealthSpan Partners agreed to acquire Surgery Partners for about $5.7 billion. The reports are dated October 26, 2026, and do not contradict the proposed event.