Bon Secours Sweetens Takeover Offer for Surgery Partners to $6 Billion

By EC Assets · Published 9 November 2026

Bon Secours Mercy Health has advanced negotiations to acquire short-stay surgical facility operator Surgery Partners in a transaction valuing the company at up to $6 billion, including debt. The healthcare provider sweetened its offer following receipt of an unsolicited proposal, leading to an amended merger agreement between the parties. HealthSpan Partners, a contractual affiliate and supporting organization of Bon Secours, is acting as the acquiring vehicle in the take-private transaction. Surgery Partners operates an extensive network consisting of ambulatory surgery centers, surgical hospitals, and physician partnerships across the United States. Private equity firm Bain Capital backs the surgical care operator. The revised purchase discussions involve acquiring a majority stake at approximately $20 per share, which values the equity and existing liabilities at roughly $5.7 billion to $6 billion. Shares of Surgery Partners surged 46% following reports detailing the advanced stage of the buyout talks. The acquisition reflects continued consolidation among non-profit healthcare operators seeking to broaden their ambulatory and outpatient surgical care footprints. Bon Secours represents the latest not-for-profit health system to pursue a multibillion-dollar transaction in the sector. Earlier this year, Catholic non-profit healthcare system Ascension finalized a $3.9 billion deal to acquire surgery care provider Amsurg. Market participants will monitor the final execution of the amended merger terms alongside any further regulatory and shareholder approvals required to complete the take-private agreement. This article is intended for informational purposes only. It does not constitute investment advice.