NASHVILLE, Tenn. (AP) -- AmSurg says it will spend about $2.35 billion to buy Sheridan Healthcare in a cash and stock deal that adds physician outsourcing services to the ambulatory surgery center operator's portfolio.
Sheridan Healthcare employs more than 2,400 doctors and provides services to hospitals, ambulatory surgery centers and other locations. That includes anesthesiology, radiology and emergency medicine services. It is owned by the private equity firm Hellman & Friedman.
AmSurg Corp. says it plans to issue about $615 million in AmSurg stock to Sheridan equity holders as part of the cash-stock deal. But it may replace most of that with cash before the deal closes. The company expects that to happen in the third quarter.
The Nashville, Tennessee, company partners with physician practice groups and runs about 242 ambulatory surgery centers around the country.