Exciting news in the healthcare industry as TPG Inc. and UnitedHealth Group Inc. are reportedly interested in acquiring Surgery Partners Inc., according to sources familiar with the situation.
Both the private equity firm and health insurance company have shown preliminary interest in Surgery Partners, along with other potential bidders, sources revealed. The news has caused Surgery Partners’ stock to surge by as much as 19% in New York trading, closing up 18% at $33.69.
Bain Capital currently holds the largest share in Surgery Partners with a 39% stake, adding to the intrigue surrounding a potential acquisition.
While discussions are still in the early stages, and no deal is guaranteed, the market buzz around Surgery Partners is undeniable. Bain, TPG, and UnitedHealth have all declined to comment on the matter, as has Surgery Partners.
Surgery Partners, established in 2004, boasts a network of over 180 locations throughout the US, encompassing surgery centers, hospitals, practices, and urgent care facilities. The company’s financial outlook appears promising, with projected annual revenue exceeding $3 billion and adjusted earnings anticipated to surpass $500 million.
Stay tuned for more updates on this developing story, with reporting by John Tozzi.
