Surgery Partners Inc. (Nasdaq: SGRY) has reached a deal to acquire National Surgical Healthcare, an owner of medical facilities, from middle-market private equity firm Irving Place Capital for nearly $760 million. Bain Capital Private Equity is providing funding for Surgery Partners’ acquisition of NSH, and will acquire a stake in the buyer’s company as part of the deal.
NSH, based in Chicago, operates 21 surgical facilities in partnership with local physicians. The target’s operations specialize in orthopedic surgery, spine and back, pain management, and neurosurgery. The deal combines two businesses forming an inpatient and outpatient surgical provider with a portfolio of 125 surgical facilities, 58 physical practice operations, and complementary ancillary services.