Surgery Partners Rejects Bain Capital Buyout Proposal, Remains Independent

Surgery Partners, a healthcare services company operating over 200 locations nationwide, has decided to remain an independent publicly traded company after rejecting Bain Capital Private Equity’s non-binding acquisition offer of $25.75 per share. Bain Capital, which owns about 39% of Surgery Partners, proposed acquiring the remaining shares, but an Independent Committee concluded that Surgery Partners’ prospects for long-term growth and value creation as an independent entity exceed the offer's value. The committee cited the company’s strong position in the high-growth outpatient surgical care market, its proven joint venture model, and favorable industry dynamics. Surgery Partners reported a robust 13.5% revenue growth over the past year and reaffirmed its 2025 financial guidance, projecting revenues between $3.30 billion and $3.45 billion and Adjusted EBITDA of $555 million to $565 million. Both Surgery Partners' management and Bain Capital expressed confidence in the company’s future, with Bain Capital emphasizing optimism about the leadership team and growth strategy despite the failed acquisition talks. Surgery Partners plans to hold an Investor Day in late 2025 to discuss its strategic plans, industry outlook, and operational initiatives.