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Ropes & Gray Counsels Surgery Partners, Inc. in Completed Acquisition of National Surgical Healthcare

Practices: Mergers & Acquisitions, Finance, Private Equity

Ropes & Gray advised Surgery Partners, Inc., a leading healthcare services company, in its completed acquisition of National Surgical Healthcare, an owner and operator of surgical facilities in partnership with local physicians, from Irving Place Capital. The announcement was made on August 31, following the execution of a definitive merger agreement on May 9, 2017.

To finance the acquisition, Surgery Partners issued new preferred stock to Bain Capital Private Equity, a leading global private investment firm, issued $370 million in new 6.750% senior unsecured notes due 2025 and consummated a new $1.29 billion term loan. 

As part of the transaction, Bain Capital Private Equity also completed its purchase of H.I.G. Capital's 54% stake in Surgery Partners at $19 per share.

The Ropes & Gray team was led by mergers & acquisitions partner Carl Marcellino, finance partners Stefanie Birkmann and Byung Choi, private equity partner Will Shields, mergers & acquisitions associate Sarah Young, private equity associates Laura Steinke and Jessica Cooney and finance associate Scott Rolnik.

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