Turn on cookies to sign in
Signing in saves your progress to your Curie account. We can only do that with cookies on — turn them on to continue.
Big health systems are going all-in on ambulatory care. Bon Secours Mercy Health announced it will acquire a majority stake in Surgery Partners in a $5.7 billion take-private deal, creating one of the largest outpatient surgical platforms in the U.S. The transaction, expected to close in Q1 2027, adds over 200 locations and ~5,000 affiliated physicians across 30 states to Bon Secours' growing network.
Big health systems are going all-in on ambulatory care. Bon Secours Mercy Health announced it will acquire a majority stake in Surgery Partners through a $5.7 billion take-private deal, positioning the Catholic nonprofit to operate one of the country's largest outpatient surgical care platforms. The deal is expected to close in Q1 2027, pending regulatory approvals.
Under the terms, Bon Secours' affiliate HealthSpan Partners will purchase shares at $23.50 per share using a mix of cash and newly secured debt, while existing investor Bain Capital Private Equity retains its ~39% stake. Surgery Partners' brand, headquarters, and operations will remain intact post-close.
The move mirrors a broader industry trend: large health systems racing to build out ambulatory networks as patients and payers push toward lower-cost care settings. Ascension made a similar play this past summer, closing a $3.9 billion acquisition of AmSurg.
By the Numbers:
Why it matters: As regulatory shifts like the wind-down of Medicare's inpatient-only list push more procedures outside hospitals, health systems that build robust ambulatory networks now will be better positioned to capture patient volume — and revenue — in the years ahead.
