Surgery Partners completes Idaho hospital sale for $797 million gross proceeds

Surgery Partners ($SGRY) completed the sale of its ownership interests in Idaho Falls Community Hospital and Mountain View Hospital to Intermountain Health. The company received approximately $797 million in gross proceeds and $587 million net, with the transaction valuing the combined facilities at about $1.15 billion. Debt reduction is the principal intended use of the proceeds.

Following the disposal, Surgery Partners updated its annual revenue outlook to $3.08–3.18 billion and its adjusted EBITDA target to at least $489 million. Those figures reflect the changed ownership perimeter, so they should not automatically be interpreted as a deterioration in like-for-like operations. The gross sale proceeds, net cash received and total valuation of the facilities describe different measures and are not interchangeable. The announcement confirms completion rather than a preliminary sale agreement.

Sources:

• Surgery Partners — Idaho divestiture completion, company release reprint