Surgery Partners seeks shareholder approval for amended $25-per-share HealthSpan merger
SGRY•Surgery Partners shareholders will vote on an amended HealthSpan Partners merger offering $25 per share in cash. Eligible shareholders could receive additional monthly payments accruing at 10% annually, bringing total consideration to as much as $26.61 per share by October 23, 2027.
1. Merger terms and vote
Surgery Partners is seeking shareholder approval for its amended merger with HealthSpan Partners, which offers $25 per share in cash. Shareholders other than Bain Capital affiliates would qualify for monthly payments accruing at 10% annually from March 1, 2027, if approval comes before closing; those payments could reach $1.61 per share at the October 23, 2027 outside closing date. The board recommends approval and opposes a competing $28-per-share proposal, citing closing uncertainty, regulatory risks and insufficient protections. Bain Capital, which holds approximately 39%, remains committed to the merger, and its affiliates will roll over their shares rather than receive cash.
