Surgery Partners, a portfolio company of H.I.G. Capital, has agreed to acquire Crestview Partners-backed Symbion for a total purchase price of $792 million. The deal, which Jefferies is financing with approximately $1.4 billion in debt financing, will create a portfolio of around 100 healthcare facilities in 27 U.S. states, providing patients with low-cost surgical services. The businesses will also provide ancillary lines of care such as anesthesia, lab testing, radiation oncology, pharmacy and urgent care.
H.I.G. Capital acquired Surgery Partners in January 2010, while Crestview Partners took Symbion private in summer 2007.