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PRINT THIS PAGE Crestview to acquire Symbion in $637m deal25/04/2007. Source: AltAssets. 
 Nashville, Tennessee-headquartered Symbion, an owner and operator of short-stay surgical facilities across the US, has entered into a merger agreement with a newly formed subsidiary of New York-based private equity firm Crestview Partners. The transaction is valued at approximately $637m, including the assumption of debt.
Under the terms of the merger agreement, holders of Symbion common stock will receive $22.35 per share in cash. Symbion's board of directors has approved the transaction.
Crestview managing director Tom Murphy said, 'The surgery centre industry is in a period of unprecedented growth and transition. Surgical facilities provide quality medical care at lower costs, greater convenience and enhanced efficiency. Symbion is an industry leader in the breadth and quality of services it provides to both physicians and patients. Symbion's management team has extensive experience in the healthcare industry. We are excited to back such a talented and entrepreneurial team. Supported by Crestview's partnership, we believe Symbion has an exciting future.'
Crestview is a $1.5bn private equity firm established in 2004 by a group of former Goldman Sachs partners including Robert Hurst, Tom Murphy and Barry Volpert.
Copyright © 2007 AltAssets
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