Surgery Partners (Nasdaq: SGRY) has ended talks with Bain Capital over a potential buyout, choosing to remain independent.
A special committee of directors said Bain’s offer undervalued the company, citing strong growth prospects in the outpatient surgical care market, Investing.com reported. Surgery Partners saw a 13.5 percent revenue increase over the past year and continues to earn bullish ratings from analysts. Bain, which owns a minority stake, expressed continued confidence in the company.
Surgery Partners, based in Nashville, Tenn., operates more than 200 facilities across 30 states.