HIG Capital LLC-backed Surgery Center Holdings Inc. is buying Symbion Holdings Corp. from Crestview Partners for $792 million.

Symbion, headquartered in Nashville, Tennessee, operates a national network of short-stay health care facilities, including surgical facilities. The company provides cardiology, gastroenterology, ophthalmology, orthopedics and pain management services. The company is being sold by Crestview Partners, a New York private equity firm that has about $4 billion in assets under management.

Surgery Center operates ambulatory surgical centers that provide orthopedic, ophthalmology, gastrointestinal and ears nose and throat surgeries. Miami private equity firm HIG, which mainly invests in manufacturing and service businesses, owns the company.

The transaction will create a group of about 100 health care facilities and complementary ancillary services.

Jefferies LLC acted as Surgery Partners’ financial adviser, and provided about $1.4 billion in committed debt financing for the deal. McDermott Will & Emery LLP and Ropes and Gray LLP were HIG’s legal advisers. Morgan Stanley & Co. LLC was Symbion’s financial advser, while Waller Landsden Dortch & Davis LLP provided legal counsel. Davis Polk & Wardwell LLP acted as Crestview’s legal counsel.

Other medical center transactions include U.S. HealthWorks’ purchase of California Occupational Clinic of Los Angeles, and Apollo Medical Holdings’ deal for AKM Medical Group.


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