Surgery Partners

active

Healthcare — Bain Capital

Deal Terms

Entry Year2017

Entry EV$2.3B

Entry Multiple11x

Leverage6.5x

Debt Amount$1.5B

Risk Metrics

LTV (est.)65%

Debt / EV0.65x

Notes

Bain Capital-backed ambulatory surgery center rollup. 180+ facilities across 31 states. $2.3B EV, $1.5B debt. Aggressive acquisition pace. Moody's downgraded. Outpatient surgery shift is a tailwind but leverage constrains flexibility.

Sponsor

Bain Capital$185B AUM