Surgery Partners : Announces Settlement of Derivative Action
January 03, 2022 at 02:09 pm EST
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Surgery Partners, Inc. Announces Settlement of Derivative Action
December 7, 2021
On November 22, 2021, Surgery Partners, Inc. entered a settlement agreement with a stockholder plaintiff to resolve claims brought on behalf of Surgery Partners relating to three transactions that occurred in May 2017, whereby (i) Surgery Partners agreed to acquire National Surgical Healthcare, Inc. from Irving Place Capital; (ii) HIG Capital, L.L.C. agreed to sell all of its common shares of Surgery Partners to Bain Capital Investors, LLC; and (iii) Surgery Partners agreed to issue and sell to Bain shares of a newly created class of Series A Preferred Stock. You can read more about the proposed settlement of this action, captioned Witmer v. H.I.G. Capital, L.L.C., et al., C.A. No. 2017-0862-LWW (Del. Ch.) and the rights of stockholders in connection with the proposed settlement at the following links:
Stipulation and Agreement of Settlement, Compromise and Release
Notice of Pendency of Derivative Action, Proposed Settlement of Derivative Action, Settlement Hearing, and Right to Appear
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Surgery Partners Inc. published this content on 03 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 January 2022 19:08:06 UTC.
Surgery Partners, Inc. is a healthcare services company. The Company, through its subsidiaries, owns and operates a national network of surgical facilities and ancillary services. Its segments include Surgical Facility Services and Ancillary Services. The Surgical Facility Services segment consists of the operation of ASCs and surgical hospitals and includes its anesthesia services. Its surgical facilities primarily provide non-emergency surgical procedures across many specialties, including, among others, orthopedics and pain management, ophthalmology, gastroenterology and general surgery. The Ancillary Services segment consisted of multi-specialty physician practices, including physician practices owned and operated pursuant to long-term management service agreements. It is focused on surgical services businesses in the United States, with over 180 locations in 33 states, including ambulatory surgery centers, short-stay surgical hospitals, and multi-specialty physician practices.
SURGERY PARTNERS, INC. 
