Weil is advising National Surgical Healthcare (NSH) in a definitive merger agreement under which Surgery Partners, Inc. will acquire NSH from Irving Place Capital for approximately $760 million. NSH is an owner and operator of surgical facilities in partnership with local physicians, and Surgery Partners is a leading healthcare services company. The combined business will be one of the leading independent surgical facilities operators in the country, with a strong presence in musculoskeletal programs, including orthopedics, pain and spine. Funding for Surgery Partners’ acquisition of NSH will be provided in part by Bain Capital, who as part of the transaction is injecting capital in exchange for a preferred security in the company, and in conjunction with this transaction, Bain Capital will acquire H.I.G. Capital’s existing equity stake in Surgery Partners. The transaction is expected to close in 2017 and is subject to customary closing conditions.
The Weil team advising NSH is led by Private Equity partner Christopher Machera and includes Private Equity partner Harvey Eisenberg; Banking & Finance partner Andrew Colao; Capital Markets partner Heather Emmel; Technology & IP Transactions partner Jeffrey Osterman; Tax partner Mark Schwed; Executive Compensation & Benefits partner Sarah Downie; Environmental counsel John O’Loughlin; Antitrust counsel Vadim Brusser; Private Equity associates Brittany Butwin, Edi Rumano and James McDonough (New Yet Admitted in New York); Banking & Finance associate Thomas Mastoras; Technology & IP Transactions associates Emilie Williams and Eric Sternlieb; Tax associates Joseph Reich and Michael Rivkin; Executive Compensation & Benefits associates Jennifer Britz and Corinne Nhaissi; and Antitrust associate Daniel Antalics.