Bon Secours Raises Surgery Partners Bid Amid UnitedHealth Rival Offer

Bon Secours Mercy Health affiliate HealthSpan Partners raised its cash offer for Surgery Partners to $25 per share from $23.50, after Surgery Partners received an unsolicited $28-per-share offer that Bloomberg reported came from UnitedHealth Group. Surgery Partners' board rejected the higher unsolicited bid, citing closing timeline, regulatory risk and lack of contractual protections, and the amended Bon Secours deal, announced November 9, adds payments of up to $1.61 per share for delayed closing, bringing potential value to about $6 billion. Bain Capital, which owns about 39% of Surgery Partners, continues to support the merger. The deal is expected to close in the first quarter of 2027 pending approvals; separately, Ascension completed its $3.9 billion acquisition of Amsurg in June, expanding its ASC network to 312 facilities.