Surgery Partners to Buy Symbion for $792M
Symbion SCH will pay cash for the company, which was put up for sale in November 2013 for up to $800 million by the New York-based investment group Crestview Partners, according to a report from the Nashville Post. What will become of Symbion's leadership team and leased office building is not yet clear.
Symbion has also signed a noncompete with Surgery Partners, which will become effective when the transaction is complete, according to the report. Currently, Symbion runs 44 ASCs and six surgical hospitals.
When the acquisition is complete, Surgery Partners will operate 94 ASCs in 30 states and have annual revenues of more than $800 million, according to a report from the Nashville Business Journal.
© Copyright ASC COMMUNICATIONS 2016. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.
To receive the latest hospital and health system business and legal news and analysis from Becker's Hospital Review, sign-up for the free Becker's Hospital Review E-weekly by clicking here.