Surgery Partners, Inc. (NASDAQ:SGRY) ("Surgery Partners" or the "Company"), a leading short-stay surgical facility owner and operator, today announced it, along with its existing partner Intermountain Health, has placed into escrow signature pages to definitive agreements, pursuant to which Surgery Partners would sell its ownership interests in Mountain View Hospital and Idaho Falls Community Hospital to Intermountain Health. Physician ownership of Mountain View Hospital will remain unchanged.

The transaction values the combined Idaho Falls facilities at approximately $1.15 billion. Total consideration to Surgery Partners is approximately $795 million. The Company expects to receive substantial cash proceeds upon closing, with the final amount subject to customary purchase price adjustments, including adjustments for indebtedness, working capital, transaction expenses and other closing items. Accordingly, the Company is unable to provide a reasonable estimate of final net cash proceeds at this time.

Completion of the transaction is subject to customary closing conditions, including the execution of binding Securities Purchase Agreements between the Company and Intermountain Health following requisite Mountain View Hospital physician member and physician governing board approvals. Unless and until these approvals are obtained, there is no assurance regarding the completion of the transaction.