BC Partners in lead to buy National Surgical Hospitals -sources


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By Carl O'Donnell and Greg RoumeliotisMarch 20 (Reuters) - Private equity firm BC Partners LLP is
in advanced talks to acquire U.S. surgical center operator
National Surgical Hospitals Inc, in a deal that could value it
at close to $1 billion, including debt, people familiar with the
matter said.
    The acquisition would underscore the continued appetite of
buyout firms for deals in the healthcare sector, despite
uncertainty over the future of the U.S. Affordable Care Act and
government insurance programs such as Medicare and Medicaid.
    BC Partners has outbid other private equity firms in the
auction for National Surgical Hospitals, and is now negotiating
final terms with the company's owner, buyout firm Irving Place
Capital, the people said on Monday. It is still possible that
these negotiations end without a deal, the people cautioned.
    BC Partners declined to comment, while National Surgical
Hospitals and Irving Place Capital did not respond to requests
for comment.
    Founded in 1998, Chicago-based National Surgical Hospitals
now spans 20 surgical facilities in 12 states. Irving Place
acquired National Surgical Hospitals in 2011 for an undisclosed
amount.
    Under Irving Place's ownership, National Surgical Hospitals
made three add-on acquisitions, including Savannah,
Georgia-based Optim Healthcare in 2015.
    The majority of the company's revenue comes from surgical
centers that treat the musculoskeletal system. About 20 percent
comes from a variety of other operations, including for the eyes
and the gastrointestinal tract.
    Based in London, BC Partners focuses on buyouts in Europe
and the United States. It has several investments in the
healthcare sector, including Elysium Healthcare and Pharmathen.

 (Reporting by Carl O'Donnell and Greg Roumeliotis in New York;
Editing by Andrew Hay)
 ((Carl.ODonnell@thomsonreuters.com; 646-223-6629;))

Keywords: NATIONAL SURGICAL PARTNERS M&A/BC PARTNERS



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