Surgery Partners has turned down Bain Capital’s $25.75/share offer to take the company private, citing better value in staying independent. Bain, the largest shareholder with ~39% stake, has yet to respond. The stock dropped 13% following the announcement.
Despite previous interest from TPG and UnitedHealth, the board reaffirmed its 2025 revenue forecast of $3.3B–$3.45B and plans to present its long-term strategy later this year.