{"schema_version":"secwatch.filing_event.v1","accession":"0001638833-26-000089","form_type":"8-K","ticker":"SGRY","cik":"0001638833","company_name":"Surgery Partners, Inc.","filed_at":"2026-11-09T21:12:00+00:00","discovered_at":"2026-11-09T21:13:00.202760+00:00","generated_at":"2026-11-09T21:13:16.387950+00:00","sec_items":["2.02","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Surgery Partners raises HealthSpan deal to $25.00/share cash after unsolicited bid; Q3 revenue $815.3M","bullets":["Amended HealthSpan Partners merger lifts cash consideration to $25.00 per share, enterprise value up to ~$6.0B, following an unsolicited competing third-party proposal.","Ticking Fee: 10% per annum on the $25.00 per share price, paid monthly in arrears to stockholders other than Bain Capital affiliates, if the deal has not closed by March 1, 2027.","Q3 2026 revenue $815.3M, down 0.8% YoY; same-facility revenue rose 6.0% on 5.8% higher revenue per case and 0.2% more cases; net loss attributable $21.1M.","Q3 Adjusted EBITDA $132.7M vs $136.4M a year ago; YTD revenue $2,475.1M (+2.1%) and YTD Adjusted EBITDA $360.2M vs $369.3M.","Merger expected to close Q1 2027 pending stockholder and regulatory approvals; company will not host earnings calls or provide forward-looking guidance during the pendency."],"urls":{"canonical":"https://secwatch.observer/filing/0001638833-26-000089","json":"https://secwatch.observer/filing/0001638833-26-000089.json","markdown":"https://secwatch.observer/filing/0001638833-26-000089.md","text":"https://secwatch.observer/filing/0001638833-26-000089.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1638833/000163883326000089/0001638833-26-000089-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1638833/000163883326000089/sgry-20261109.htm"},"model":{"generated_by":"deepseek-v4.1-flash:cloud@v2","generated_at":"2026-11-09T21:13:16.387950+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}