Oct 25 (Reuters) – US based not-for-profit health system Bon Secours Mercy Health is in late-stage talks to buy a majority stake in Surgery Partners in a deal which would value the company at roughly $6 billion including debt, the Financial Times reported on Sunday.
Here are a few details:
• The potential, deal which could be announced as early as Monday, values the short-stay surgery operator at about $20 a share, the report said, citing people familiar with the matter
• Bon Secours Mercy Health and Surgery Partners did not immediately respond to Reuters request for comment outside regular business hours
• Bain Capital, its largest shareholder, will retain its almost 40 per cent shareholding in Surgery Partners as part of the take-private deal, the report added
• The potential deal would represent a 25.8% premium to Surgery Partners’ last close of $15.9, as per LSEG data.
• Surgery Partners rejected Bain Capital’s take-private offer in June last year, saying it was unable to agree to the terms set by the private equity group
(Reporting by Anusha Shah in BengaluruEditing by Nick Zieminski)
