secwatch.observer — SEC 8-K summary
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Issuer:     Surgery Partners, Inc. (SGRY)
CIK:        0001638833
Form:       8-K
Filed at:   2026-09-17T13:03:06+00:00
Accession:  0001638833-26-000085
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Surgery Partners closes $797M sale of Idaho Falls hospitals to Intermountain; updates guidance
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- Closed sale of Idaho Falls hospitals to Intermountain Health for $797M gross / $587M net cash proceeds; $1.15B enterprise value.
- Multiples: ~7x LTM adjusted EBITDA and ~17x avg 3-yr distributions; proceeds primarily to pay down debt.
- Leverage expected to improve 30bps from 4.4x at Q2 2026; transaction accretive to adjusted earnings growth annually.
- FY2026 guidance: revenue $3.08-3.18B, adj. EBITDA ≥$489M; ex-Idaho Falls pro forma: revenue $2.60-2.67B, adj. EBITDA ≥$414M.
- Portfolio streamlining: 50% cut in Medicaid payor mix, 100% exit from obstetrics/neonatology, 75% fewer non-surgical admissions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1638833/000163883326000085/0001638833-26-000085-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1638833/000163883326000085/sgry-20260914.htm
  HTML page:      https://secwatch.observer/filing/0001638833-26-000085

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