Surgery Partners Inc SEC Filings

Surgery Partners, Inc., through its subsidiary Surgery Center Holdings, Inc., agreed to issue and sell $425.0 million in aggregate principal amount of 7.250% senior unsecured notes due 2032. These notes are being sold under a purchase agreement with Barclays Capital Inc., acting as representative of the initial purchasers. The company plans to use the net proceeds for general corporate purposes, including repaying outstanding borrowings under its revolving credit facility. The completion of this notes offering is described as being subject to market and other conditions, meaning it is not yet finalized. Surgery Partners also announced the pricing of the notes in a press release dated December 11, 2025.

Surgery Partners, Inc. reported that its wholly owned subsidiary, Surgery Center Holdings, Inc., intends to offer $425.0 million of additional 7.250% Senior Notes due 2032. The notes are expected to be offered in a private transaction conducted under Rule 144A and Regulation S.

The company stated that net proceeds are expected to be used for general corporate purposes, which may include repaying outstanding borrowings under its revolving credit facility. Surgery Partners also cautioned that the offering may not be completed on the terms or in the amounts anticipated, or at all, and referenced existing risk factors in its annual and quarterly reports.

Surgery Partners, Inc. announced the appointment of Justin Oppenheimer as Chief Operating Officer and National Group President, effective January 1, 2026. He joins from the Hospital for Special Surgery, where he spent a decade in leadership roles including Chief Strategy Officer and Chief Operating Officer.

Oppenheimer serves on the board of Urban Dove, a New York-based charter school management organization, and holds a B.A. in political economy from Princeton University and an MBA from Harvard Business School. The company referenced his employment agreement as Exhibit 10.1, dated October 27, 2025.

Surgery Partners, Inc. (SGRY) reported higher revenue and improved operating performance in Q3 2025. Revenue rose to $821.5 million from $770.4 million, driven by same‑facility growth and recent portfolio actions. Operating income increased to $105.7 million from $60.9 million as salaries, supplies, and professional fees scaled with volume. Net loss attributable to Surgery Partners narrowed to $22.7 million from $31.7 million as interest expense remained elevated at $74.9 million.

Management highlighted days‑adjusted same‑facility revenue up 6.3% year over year, with a 2.8% increase in revenue per case and a 3.4% lift in same‑facility cases. For the nine months, revenue reached $2,423.7 million versus $2,249.9 million, while the net loss attributable to the company was $62.9 million.

Liquidity and capital structure shifted following an August refinancing. The company entered into $1,383 million of 2025 Refinancing Term Loans maturing in 2030 at Term SOFR plus 2.50% (or an alternate base rate plus 1.50%) and extended revolving commitments to 2028. Cash and cash equivalents were $203.4 million, with $405.9 million of availability on the $703.8 million revolver. Total debt was $3,563.6 million, including $800.0 million of 7.250% senior notes due 2032. As of November 3, 2025, common shares outstanding were 129,341,779.

Surgery Partners, Inc. (SGRY) furnished an 8-K announcing results for the three and nine months ended September 30, 2025. The company issued a press release, attached as Exhibit 99.1, detailing the period’s performance.

The disclosure under Item 2.02 is provided pursuant to General Instruction B.2 and is deemed furnished, not filed. The release includes non-GAAP financial measures with reconciliations to the most comparable GAAP measures.

Surgery Partners, Inc. (SGRY) submitted a Form 144 notifying a proposed sale of 3,145 common shares through UBS Financial Services with an approximate market value of 65,269.9, and an approximate sale date of 10/09/2025 on NASDAQ. The securities were acquired on 10/09/2025 via equity compensation and paid by equity option exercise.

The filing also lists multiple prior open-market sales by the named person, Wayne DeVeydt, across dates from 08/21/2025 to 10/08/2025, including several large single-day blocks (up to 150,000 shares). The notice includes the required attestation that the seller is not aware of undisclosed material adverse information.

Surgery Partners, Inc. (SGRY) Rule 144 notice shows an insider intends to sell 25,000 newly acquired common shares through UBS Financial Services on 10/08/2025 with an aggregated market value of $513,185.65 based on 128,209,410 shares outstanding. The shares were acquired the same day as an equity option exercise from the company.

The filing also lists multiple recent sales by Wayne DeVeydt totaling numerous transactions between 08/21/2025 and 09/29/2025, including blocks of 100,000, 150,000, and other quantities with individual gross proceeds shown. The filer certifies no undisclosed material adverse information is known at signing.

Surgery Partners, Inc. (SGRY) Form 144 notice reports a planned sale of 18,134 common shares through UBS on 09/29/2025 with an aggregate market value of $399,822. The filer states these shares were acquired the same day via an equity option exercise, and the proposed sale will be executed on NASDAQ. The filing lists extensive insider selling by Wayne DeVeydt over the prior three months totaling 719,604 shares sold across multiple dates, generating cumulative gross proceeds reported in the filing. The company has 128,209,410 shares outstanding, which provides context for the scale of these transactions relative to the float.

Surgery Partners, Inc. (SGRY) Form 144 shows a proposed sale of 5,627 common shares through UBS Financial Services on September 26, 2025. The shares were recorded as acquired the same day via equity compensation and an equity option exercise. The reported aggregate market value for the proposed sale is $123,794 and the issuer has 128,209,410 shares outstanding. The filing also lists multiple recent open-market sales by Wayne DeVeydt totaling 713,977 shares sold across dates from August 21, 2025 through September 23, 2025 with individual gross proceeds reported for each lot.