Surgery Partners amends HealthSpan buyout after unsolicited rival bid

Surgery Partners and HealthSpan Partners, an affiliate of Bon Secours Mercy Health, have amended their previously announced merger agreement. The change follows Surgery Partners' receipt of an unsolicited competing proposal from an unnamed third party. Surgery Partners is a short-stay surgical facility owner and operator.

Why it matters: A rival bidder has turned a signed take-private into a contested situation, pushing the agreed buyer to improve its terms.