Surgery Partners, Inc. Announces New Appointments to the Board of Directors
June 05 2017 - 5:29PM
Surgery Partners, Inc. (NASDAQ:SGRY) (the “Company”), today
announced the appointment of Christopher R. Gordon and conditional
appointment of T. Devin O’Reilly to its Board of Directors,
effective upon the consummation of the recently announced
transaction whereby the Company has agreed to issue Series A
Preferred Stock to BCPE Seminole Holdings LP, an affiliate of Bain
Capital Private Equity.
On May 30, 2017, in connection with the recently
announced transaction whereby H.I.G. Surgery Centers, LLC, an
affiliate of H.I.G. Capital, has agreed to sell its shares of
Common Stock of the Company to BCPE Seminole Holdings LP, Matthew
Lozow notified Surgery Partners of his resignation from the Board
of Directions, effective upon the closing of that transaction.
"I am pleased to welcome Christopher Gordon and
Devin O’Reilly to the board of Surgery Partners," said CEO Mike
Doyle. "Their experience at Bain Capital and on the boards of
several other health care companies will be very valuable to
Surgery Partners as we continue to expand.”
“I would also like to thank Matt Lozow and
H.I.G. Capital for their support over the past seven years,” said
Mr. Doyle. Mr. Lozow has served on the board since the Company’s
formation in April 2015, and as a member of the Compensation
Committee of the Board since the Committee’s inception.
Christopher Gordon joined Bain Capital Private
Equity, LP in 1997 and has served as a Managing Director since
2009. Prior to joining Bain Capital, Mr. Gordon was a consultant at
Bain & Company, Inc. Mr. Gordon holds an MBA from Harvard
Business School and an AB in Economics from Harvard College. Mr.
Gordon currently serves as a director of Aveanna Healthcare, Acadia
Healthcare Company, Inc., Beacon Health Options, Grupo Notre Dame
Intermedica, Kestra Medical Technologies, Inc., Navicure and QuVa
Pharma, Inc. He has previously served as a director for several
other companies including Quintiles IMS Holdings, Inc. and Hospital
Corporation of America.
T. Devin O’Reilly joined Bain Capital Private
Equity, LP in 2005 and has served as a Managing Director since
2013. Prior to joining Bain Capital, Mr. O’Reilly was a consultant
at Bain & Company where he consulted for private equity and
healthcare industry clients. Previously, he spent several years in
the software industry in corporate development and general
management roles. Mr. O’Reilly received an MBA from The Wharton
School at the University of Pennsylvania, and graduated with a BA
from Princeton University. Mr. O’Reilly currently serves as a
director of Atento S.A., Aveanna Healthcare and Grupo Notre Dame
Intermedica. Mr. O’Reilly formerly served as a director of Bio
Products Laboratory and Brakes Bros.
The Board expects to appoint Messrs. Gordon and
O’Reilly to the Compensation Committee of the Board upon their
appointment to the Board upon the Preferred Stock Closing.
About Surgery Partners,
Inc.
Headquartered in Nashville, Tennessee, Surgery
Partners, Inc. is a leading healthcare services company with a
differentiated outpatient delivery model focused on providing high
quality, cost effective solutions for surgical and related
ancillary care in support of both patients and physicians. Founded
in 2004, Surgery Partners is one of the largest and fastest growing
surgical services businesses in the country, with more than 150
locations in 29 states, including ambulatory surgical facilities,
surgical hospitals, a diagnostic laboratory, multi-specialty
physician practices and urgent care facilities.
Forward-Looking Statements
This report may contain “forward-looking”
statements as defined by the Private Securities Litigation Reform
Act of 1995 or by the U.S. Securities and Exchange Commission
("SEC") in its rules, regulations and releases. These statements
include, but are not limited to, the Company’s expectations
regarding the actions contemplated by the transaction agreements,
including the closing of the transactions contemplated thereby and
actions contingent thereon, the performance of the Company’s
business and the other non-historical statements. These statements
can be identified by the use of words such as “believes,”
“anticipates,” “expects,” “intends,” “plans,” “continues,”
“estimates,” “predicts,” “projects,” “forecasts,” and similar
expressions. All forward looking statements are based on
management’s current expectations and beliefs only as of the date
of this report and are subject to risks, uncertainties and
assumptions that could cause actual results to differ materially
from those discussed in, or implied by, the forward-looking
statements, including but not limited to, the risk that the parties
are unable to obtain required regulatory approvals, the risk that
the parties are unable to satisfy other conditions to the
consummation of the transactions contemplated by the transaction
agreements, the occurrence of any event, change or other
circumstance that could give rise to the termination of the
transaction agreements, the risk that the transactions contemplated
thereby may involve unexpected liabilities or delays, and such
other the risks identified and discussed from time to time in the
Company’s reports filed with the SEC, including the Company’s most
recent Annual Report on Form 10-K. Readers are strongly encouraged
to review carefully the full cautionary statements described in
these reports. Except as required by law, the Company undertakes no
obligation to revise or update publicly any forward-looking
statements to reflect events or circumstances after the date of
this report, or to reflect the occurrence of unanticipated events
or circumstances.
CONTACT:
Teresa Sparks, CFO
Surgery Partners, Inc.
(615) 234-8940
IR@surgerypartners.com
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