News Release Details

Surgery Partners, Inc. Announces Settlement of Derivative Action

December 7, 2021

On November 22, 2021, Surgery Partners, Inc. entered a settlement agreement with a stockholder plaintiff to resolve claims brought on behalf of Surgery Partners relating to three transactions that occurred in May 2017, whereby (i) Surgery Partners agreed to acquire National Surgical Healthcare, Inc. from Irving Place Capital; (ii) HIG Capital, L.L.C. agreed to sell all of its common shares of Surgery Partners to Bain Capital Investors, LLC; and (iii) Surgery Partners agreed to issue and sell to Bain shares of a newly created class of Series A Preferred Stock.  You can read more about the proposed settlement of this action, captioned Witmer v. H.I.G. Capital, L.L.C., et al., C.A. No. 2017-0862-LWW (Del. Ch.) and the rights of stockholders in connection with the proposed settlement at the following links:

Stipulation and Agreement of Settlement, Compromise and Release

Notice of Pendency of Derivative Action, Proposed Settlement of Derivative Action, Settlement Hearing, and Right to Appear