HealthSpan Partners to Acquire Surgery Partners

Paul, Weiss is advising HealthSpan Partners, an affiliate of not-for-profit healthcare system Bon Secours Mercy Health, on its all-cash acquisition of Surgery Partners, a leading operator of surgical facilities and ancillary services, for an enterprise value of approximately $5.7 billion. Under the agreement, Surgery Partners shareholders, other than affiliates of Bain Capital, will receive $23.50 in cash per share. Affiliates of Bain Capital, Surgery Partners’ largest shareholder, will roll over their shares in exchange for equity interest in the acquiring entity. The transaction is expected to close in the first quarter of 2027, subject to customary closing conditions.

The Paul, Weiss team is led by corporate partners Laura Turano, Nickolas Bogdanovich, Cristina Amodeo and Scott Barshay, and includes partners Julie Ann Lamm, Nicholas Schwartz, Peter Byrne, and Patricia Vaz de Almeida; executive compensation partner Christopher Gonnella and counsel Brian DeShannon; antitrust partners Jesse Solomon, Scott Sher and Matthew Wheatley; tax partners Robert Holo and Anne McGinnis; intellectual property partner Bonnie Chen; real estate partner Peter Fisch; litigation partner Geoffrey Chepiga, and counsel Mark Weiner and Audrey Paquet.