Surgery Partners, Inc. (NasdaqGS:SGRY) is looking for M&A. Eric Evans, Chief Executive Officer said, "Fourth, we have an amazing M&A pipeline. So if you think about our business, not only do we have the great organic growth, but we're in a very fragmented industry. We've proven record of finding accretive opportunities year after year.

We have a great management team. Dave Doherty is here with me; our Chief Development Officer, Jennifer Baldock, is in the back. Very, very proud of our team.

We put them up against anybody in the industry. And lastly, we have consistently delivered on what we said we're going to do. So those are the 6 things we're going to run through".

"I'd point out 2 things at the bottom. Number one, we have a track record of really reducing that leverage. We expect to be in the mid-3s by the end of 2025.

And in 2025, we will be notably at $200 million free cash flow, which can fully fund our planned M&A". David Doherty said, "Our M&A of 4% to 6% is on our commitment to spend $200 million. And as you just saw, we completed $225 million through today and another $200 million in the pipeline.

So that feels pretty good with one exception: timing. The timing on M&A is fickle. And we are not a company that is going to execute M&A just to simply meet a number.

So we're going to do it when the time is right".