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The
company is selling 14.3 million common shares in the IPO and
expects to raise 324.9 million at the mid-point of the range,
according to its regulatory filing.
The Nashville, Tennessee-based company, owned by H.I.G Capital
LLC, operates 94 ambulatory surgery centers and five hospitals
in 28 states. Patients can receive services including
anesthesia, diagnostics and radiation oncology at these centers.
Reuters reported in March that Surgery Partners was preparing
for a summer IPO.
Surgery Partners' competitors include Surgical Care Affiliates
Inc, AmSurg Corp and United Surgical Partners International,
which recently struck a merger deal with Tenet Healthcare Corp.
H.I.G. Capital, which currently owns more than 80 percent stake
in the company, bought Surgery Partners in 2010 for an
undisclosed amount. It later bought surgery center operator
NovaMed for $214 million and merged the businesses.
Last November, Surgery Partners acquired Symbion Holdings Corp,
owned by Crestview Partners, for $792 million.
BofA Merrill Lynch, Goldman Sachs, Jefferies, Citigroup and
Morgan Stanley are among those underwriting the IPO. The stock
is expected to list on the Nasdaq under the symbol "SGRY".
(Reporting By Sudarshan Varadhan; Editing by Saumyadeb
Chakrabarty and Anil D'Silva)
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