News Release Details

Surgery Partners, Inc. Announces Proposed Public Offering of Common Stock

November 21, 2022

BRENTWOOD, Tenn., Nov. 21, 2022 (GLOBE NEWSWIRE) -- Surgery Partners, Inc. (Nasdaq: SGRY) (“Surgery Partners”) today announced that it has commenced an underwritten public offering of $275 million of its common stock. All of the shares to be sold in the offering are to be sold by Surgery Partners. In connection with the offering, Surgery Partners intends to grant the underwriters a 30-day option to purchase up to $41.25 million of additional shares of its common stock. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

BofA Securities is acting as lead bookrunning manager for the public offering.

An affiliate of Bain Capital, our controlling stockholder, has agreed to purchase $225 million of our common stock in a concurrent private placement at the same public offering price per share as the purchasers in the underwritten public offering. The concurrent private placement is expected to close within 30 days of the date of the underwritten public offering, subject to the satisfaction of customary closing conditions.

Surgery Partners expects to use proceeds from the offering and the concurrent private placement to repay portions of our long term indebtedness, with the remainder for general corporate purposes.

The shares in the underwritten public offering are being offered pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission (the “SEC”) on January 25, 2021. The underwritten public offering will be made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. An electronic copy of the preliminary prospectus supplement and accompanying base prospectus relating to the offering, when filed, will be available on the SEC’s website at and may also be obtained, when available, by contacting BofA Securities NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, or email at

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Surgery Partners

Headquartered in Brentwood, Tennessee, Surgery Partners is a leading healthcare services company with a differentiated outpatient delivery model focused on providing high quality, cost effective solutions for surgical and related ancillary care in support of both patients and physicians. Founded in 2004, Surgery Partners is one of the largest and fastest growing surgical services businesses in the country, with more than 180 locations in 32 states, including ambulatory surgery centers, surgical hospitals, multi-specialty physician practices and urgent care facilities.

Forward-Looking Statements

This press release contains forward-looking statements, including but not limited to, statements relating to Surgery Partners’ expectations regarding the completion, timing and size of the proposed public offering, concurrent private placement and the intended use of net proceeds therefrom. These statements can be identified by the use of words such as “believes,” “anticipates,” “expects,” “intends,” “plans,” “continues,” “estimates,” “predicts,” “projects,” “forecasts,” and similar expressions, though not all forward-looking statements use these words or expressions. All forward-looking statements are based on current expectations and beliefs as of the date of this release and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those discussed in, or implied by, the forward-looking statements, including, but not limited to, the risk that Surgery Partners may be unable to complete the proposed public offering and concurrent private placement on the anticipated terms or at all, and the other risks identified in Item 1A under the heading “Risk Factors” in the Company's Annual Report on Form 10-K for the year ended December 31, 2021, filed on March 1, 2022 and the Company's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022, June 30, 2022, and September 30, 2022, filed on May 3, 2022, August 2, 2022, and November 8, 2022, respectively. Except as required by law, Surgery Partners does not undertake any obligation to revise or update publicly any forward-looking statements to reflect events or circumstances after the date of this report, or to reflect the occurrence of unanticipated events or circumstances.


Surgery Partners Investor Relations
(615) 234-8940

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Source: Surgery Partners, Inc.