Surgery Partners, which owns or operates 99 surgical facilities across 28 states, announced terms for its IPO on Monday.
The Nashville, TN-based company plans to raise $350 million by offering 14.3 million shares at a price range of $23 to $26. At the midpoint of the proposed range, Surgery Partners would command a market value of $1.2 billion.
Surgery Partners competes with Surgical Care Affiliates (SCAI) and AmSurg (AMSG).
Surgery Partners, which was founded in 2004 and booked $713 million in sales for the 12 months ended June 30, 2015, plans to list on the Nasdaq under the symbol SGRY. BofA Merrill Lynch, Goldman Sachs, Jefferies, Citi, Morgan Stanley, Credit Suisse, Raymond James and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of September 28, 2015.
