- Nashville-based AmSurg has agreed to purchase physician outsource provider Sheridan Healthcare in a cash and stock deal worth $2.35B. AmSurg partners with physician groups to operate 242 ambulatory surgery centers across the country.
- The acquisition is expected to close in Q3 of this year. The combined company will include more than 4,600 physician relationships in 38 states and create a total available market of $70B.
- The deal, according to the Tennessean, will allow AmSurg to take advantage of a growing physician outsourcing market.
PwC could use the Sheridan acquisition as a case study for its latest report on 2014 M&A, so nicely does it fit the conclusions: Although the pace of deals in Q1 remained constant year-over-year, deal value rose. And according to PwC, what that means is not that the M&A market is slowing down, but rather that bigger deals — such as systems buying systems — are becoming more common. Expect to see more complex deals like this one making headlines in 2014.