AmSurg buying National Surgical Care
Ambulatory surgery center operator AmSurg Corp. said Thursday it will pay $173.5 million in cash for National Surgical Care to expand its footprint.
National Surgical Care, based in Dallas, owns and operates 18 ambulatory surgery centers and had $124.5 million in revenue in 2010. As of Dec. 31, AmSurg owned a majority interest in 204 centers.
AmSurg said it would fund the buyout with available cash and additional debt borrowing. It exercised an accordion feature on its revolving credit facility to borrow up to $450 million from $375 million previously. The company expects to close the deal in the second quarter.
AmSurg said it expects the deal to add to 2012 results.
Shares of AmSurg jumped $1.50, or 5.8 percent, to close at $27.35, and hit a new 52-week of $27.52 during the session.