Ambulatory surgery center operator Amsurg Corp said it would purchase Sheridan Healthcare Inc from private equity firm Hellman & Friedman LLC for about $2.35 billion in cash and stock to enter the outsourced physician services market.Amsurg's stock jumped as much as 13 percent in early trading on the Nasdaq on Thursday.Analysts lauded the "transformational" deal as it would be immediately accretive to Amsurg's earnings."This transaction will broaden Amsurg's hospital and health system relationships, while providing new avenues of growth and cash flow," Piper Jaffray analyst Kevin Ellich said in a note.
AmSurg Corp. is the owner and operator of short stay ambulatory surgery centers (ASCs) in the United States. Shares of AMSG traded higher by 8.83% or $3.78/share to $46.58. In the past year, the shares have traded as low as $34.12 and as high as $49.84. On average, 132116 shares of AMSG exchange hands on a given day and today's volume is recorded at 394874.
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