McGuireWoods served as healthcare regulatory counsel to HealthSpan Partners, a contractual affiliate and supporting organization of Bon Secours Mercy Health, in its definitive agreement to acquire Surgery Partners, Inc. (NASDAQ:SGRY), a leading provider of surgical services. The all-cash transaction has an enterprise value of approximately $5.7 billion.
HealthSpan Partners’ combination with Surgery Partners — which operates through a national network of ambulatory surgery centers, surgical hospitals and physician partnerships — will establish one of the nation’s largest outpatient surgical care platforms.
HealthSpan Partners is a diversified healthcare services organization that supports accessible, patient-centered care across multiple healthcare settings. Surgery Partners operates more than 200 locations across approximately 30 states and has approximately 5,000 affiliated physicians. The combination will expand HealthSpan Partners’ presence across the fast-growing outpatient surgery segment and strengthen its ability to serve patients across a broader range of care settings.
The transaction is expected to close in the first quarter of 2027, subject to the approval of Surgery Partners shareholders, the receipt of regulatory approvals and the satisfaction of other customary closing conditions. Upon the deal’s completion, Surgery Partners will become a privately held company.
The McGuireWoods team advising HealthSpan Partners included partners Alyssa Campbell, Holly Buckley, Timothy Fry, Brett Barnett and Greg Fosheim, and associates Erica Jewell and Francesca Ozinal.
“We are proud to support Bon Secours and HealthSpan Partners on this strategic transaction,” said Buckley, chair of the firm’s Healthcare Department. “Bringing together a national network of ambulatory surgery centers, surgical hospitals and physician partnerships requires careful attention to a complex healthcare regulatory landscape. Our team has the experience and depth to help clients navigate that complexity with confidence.”
McGuireWoods’ nationally recognized healthcare lawyers steer hospitals, health systems, physician groups, investors and life sciences companies through the ever-changing landscape of healthcare regulation. The firm has earned numerous honors, including a nationwide ranking in Chambers USA, for representing healthcare and life sciences clients in major corporate transactions, as well as regulatory and compliance matters.