Surgery Partners, a Nashville-based chain of surgery centers, has announced intentions to purchase National Surgical Healthcare. The acquisition of the Chicago company will expand the Surgery Partners reach to 125 surgical facilities and 58 physician practice locations spread among 32 states.
It was only a few weeks ago that the leadership of Surgery Partners laid out plans for the remainder of 2017 that included tapping the brakes on the aggressive mergers and acquisitions strategy that has been at the heart of their business model in recent years.
National Surgical Healthcare evidently proved too enticing. Surgery Partners is expected to fork over $760 million to pick up the chain of medical facilities.
In a statement, Surgery Partners CEO Mike Doyle emphasized the opportunity to broaden their array of healthcare offerings.
“This transaction strengthens our market position and will provide new opportunities to introduce ancillary services to our expanded network of surgical facilities,” said Doyle. “NSH and Surgery Partners share a commitment to high quality, cost effective health care services.”
Doyle hit that same point in a conference call with investors, according to the Nashville Post. He also speculated about the ability to quickly trim $20 million from National Surgical Healthcare’s expenditures.
Although the deal is subject to regulatory approvals and other typical hurdles for a transaction of this type, it is expected to close before the year is up.