Surgery Partners Sells Idaho Falls Facilities for $1.15 Billion — Surgery Partners, Inc.

Event summary

Surgery Partners to sell Idaho Falls facilities to Intermountain Health for $1.15 billion, with Surgery Partners receiving approximately $795 million in consideration.
Transaction subject to regulatory approvals and physician governing board approvals, expected to close in coming months.
Deal represents largest step in Surgery Partners' portfolio optimization strategy, focusing on ambulatory surgery center growth.
Company reaffirms 2026 guidance excluding transaction impact: revenues of $3.35B–$3.45B and Adjusted EBITDA of at least $530 million.

The big picture

This sale marks a significant step in Surgery Partners' strategy to streamline operations and concentrate on high-growth ambulatory surgery centers. The $1.15 billion deal reflects broader industry trends of healthcare consolidation, particularly as regional health systems like Intermountain Health expand their footprints. The transaction's success hinges on navigating regulatory hurdles and securing physician approvals, underscoring the complex governance dynamics in healthcare M&A.

What we're watching

Regulatory Approvals: Whether the transaction receives necessary regulatory and physician approvals to close as expected.
Portfolio Focus: How Surgery Partners deploys proceeds from the sale to accelerate growth in high-value ambulatory surgery centers.
Financial Impact: The pace at which the transaction's financial impact is integrated into Surgery Partners' 2026 outlook and beyond.