M&A · Healthcare · Services-General Medical & Surgical Hospitals, NEC
Bon Secours Mercy Health, Inc. to acquire Surgery Partners, Inc.
Announced Oct 26, 2026 · Announced
Deal value$5.70BEV $5.70B
Premium—To unaffected price
EV / Adj. EBITDA9.0x1.7x EV / Revenue
ConsiderationAll cash$23.50 per share
Transaction
- Acquirer
- Bon Secours Mercy Health, Inc.
- Target
- Surgery Partners, Inc. (SGRY)
- Buyer type
- Strategic
- Offer price per share
- $23.50
- Enterprise value
- $5.70B
- Status
- Announced
Deal protections
- Break fee (target pays)
- $109M · 1.9%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- Centerview, Leerink Partners, Moelis
Sector context · Healthcare
- Comparable deals
- 107 in the prior 24 months
- Premium
- Sector median 45.0%
- EV / Adj. EBITDA
- 9.0x vs. 10.7x sector median
- Break fee
- 1.9% vs. 3.5% sector median
Timeline
- AnnouncedOct 26, 2026
- ClosedPending