Surgery Partners will add 2 to board of directors post transaction: 5 things to know

Surgery Partners appointed Christopher R. Gordon to its board of directors and granted a conditional appointment to T. Devin O'Reilly, both of Bain Capital Private Equity.


Here are five things to know:

1. Surgery Partners recently began the process to acquire National Surgical Healthcare; at the same time, Bain Capital Private Equity plans to purchase H.I.G. Surgery Centers' ownership of Surgery Partners. When the transaction is complete and the company agrees to issue Series A Preferred Stock to Bain Capital Private Equity affiliate BCPE Seminole Holdings, the appointments will be official.

2. Mr. Gordon and Mr. O'Reilly are both managing directors of Bain Capital Private Equity. Mr. Gordon joined the firm in 1997 and became a managing director in 2009; Mr. O'Reilly joined the firm in 2005 and became a managing director in 2013.

3. Current Surgery Partners board member Matthew Lozow will resign when the transaction is complete. He served on the company's board since April 2015 as a member of the compensation committee.

4. The board expects both Mr. Gordon and Mr. O'Reilly to join as members of the compensation committee upon the preferred stock closing.

5. Mr. Gordon has previous experience with several healthcare companies, including Aveanna Healthcare, Acadia Healthcare and Hospital Corporation of America. Mr. O'Reilly was previously director of Bio Products Laboratory and Brakes Bros.

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