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Surgery Center to get new debt financing for NovaMed purchase
By Sara Rosenberg
New York, Jan. 21 - Surgery Center Holdings Inc. plans on getting new debt financing to help fund its acquisition of NovaMed Inc., according to a news release.
Jefferies Finance LLC and THL Credit Inc. have committed to provide the debt.
Under the terms of the agreement, NovaMed stockholders will receive $13.25 per share in cash. The transaction is valued at roughly $214 million, including the assumption or repayment of $105 million of debt.
The acquisition is expected to close in the second quarter, subject to customary conditions, including antitrust and regulatory approvals and stockholder approval.
Surgery Partners is a Tampa, Fla.-based acquirer, developer and manager of free-standing ambulatory surgical centers. NovaMed is a Chicago-based operator, developer and acquirer of ambulatory surgery centers.
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