News/Bon Secours Mercy buys Surgery Partners: now the fourth-largest surgery center owner

Bon Secours Mercy buys Surgery Partners: now the fourth-largest surgery center owner

Market brief ·

On October 26, 2026, Surgery Partners agreed to be taken private by HealthSpan Partners, an affiliate of Bon Secours Mercy Health, at $23.50 a share, about $5.7 billion including debt. Bain Capital, which holds about 39% of Surgery Partners, rolls its stake into the new owner. The deal is expected to close in the first quarter of 2027.

From 19 surgery centers to 163

Bar chart of the five largest U.S. surgery center owners: Tenet (USPI), UnitedHealth (Optum), Ascension (AmSurg), Bon Secours Mercy with Surgery Partners at 163, up from 19, and HCA Healthcare at 155
Ambulatory surgery centers owned, of 7,325 Medicare-certified centers. A joint venture counts with each partner.

Surgery Partners owns 144 of the 7,325 Medicare-certified surgery centers in our data, 2.0% of the U.S. total. Bon Secours Mercy owns 19. Together they hold 163, 2.2%, which ranks fourth behind Tenet's USPI, UnitedHealth's Optum and Ascension's AmSurg, and just ahead of HCA Healthcare's 155.

Surgery Partners counts more sites than that, about 176 facilities including 19 surgical hospitals. The figures here count licensed ambulatory surgery centers only, the same way for every owner.

Almost no local overlap

U.S. map: Surgery Partners' surgery centers spread across the South, Texas, California and Florida; Bon Secours Mercy Health's hospitals and surgery centers clustered in Ohio, Virginia, Kentucky and South Carolina
Open sites in our data. The deal is pending.

Bon Secours Mercy runs 41 hospitals, most of them in Ohio, Virginia, Kentucky and South Carolina. Surgery Partners' centers sit in 74 metro and rural labor markets, led by California, Florida, Texas and Georgia. The two share only one market: Cleveland, OH, where Bon Secours Mercy has hospitals and Surgery Partners has surgery centers.

The deal leaves local surgery center markets almost as they are. It gives a Catholic nonprofit health system a national outpatient surgery business, mostly in states where it has no hospitals.

Part of a pattern

Hospital owners are buying the largest surgery center chains. Ascension closed its $3.9 billion purchase of AmSurg in 2026. With this deal, four of the five largest U.S. surgery center owners also run hospitals: Tenet, Ascension, Bon Secours Mercy and HCA. UnitedHealth Group, through Optum, is the fifth.

How we measured it

Centers are open, Medicare-certified ambulatory surgery centers in CMS Provider of Services data, linked to owners through Medicare enrollment records and company location lists. A joint venture counts with each partner. Labor markets are Bureau of Labor Statistics metro and nonmetro areas. Our national surgery center report has the full ranking.

Questions

Who is buying Surgery Partners?

HealthSpan Partners, an affiliate of Bon Secours Mercy Health, agreed on October 26, 2026, to take Surgery Partners private at $23.50 a share, about $5.7 billion including debt. Bain Capital rolls its stake of about 39% into the new owner.

When will the Surgery Partners deal close?

The companies expect it to close in the first quarter of 2027, after shareholder and regulatory approval.

Who are the largest surgery center owners after the deal?

Tenet Healthcare (USPI), UnitedHealth Group (Optum), Ascension (AmSurg), Bon Secours Mercy Health with Surgery Partners (163 centers) and HCA Healthcare (155).

Sources

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