HealthSpan Partners Raises Merger Consideration To $25 Per Share For Surgery Partners

Surgery Partners, Inc. (NASDAQ: SGRY) (“Surgery Partners” or the “Company”), a leading short-stay surgical facility owner and operator, and HealthSpan Partners, a contractual affiliate and supporting organization of U.S.-based Bon Secours Mercy Health (“BSMH”), today announced an amendment to its previously announced merger agreement. The amendment follows Surgery Partners’ receipt of an unsolicited competing proposal from a third party.

The amendment to the HealthSpan Partners merger agreement increases the merger consideration to $25.00 per share in cash and further provides that the Company’s stockholders (other than affiliates of Bain Capital Private Equity (“Bain Capital”)) will receive additional monthly cash payments (the “Ticking Fee”) in the event the requisite Company stockholder approval has been obtained but the merger between HealthSpan Partners and Surgery Partners has not occurred by March 1, 2027, which payments will be paid in equal monthly installments in arrears at a rate equal to 10% per annum on the $25.00 per share merger consideration, among other updates (the “Amended HealthSpan Proposal”).