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IPO Valued Surgery Partners at $1.25 billion

Surgery Partners Inc’s , a surgical center manager, IPO was priced at $23-$26 per share, giving the firm at a market cap of $1.25 billion. The firm is selling 14.3 million common shares in the IPO and expects to raise 324.9 million at the mid point of the range.

The company operates 94 ambulatory surgery centers and five hospitals in 28 states. Patients can receive services including anesthesia, diagnostics and radiation oncology at these centers.

Bank of America Merrill Lynch, Goldman Sachs, Jefferies, Citigroup and Morgan Stanley are some of the underwriters for the IPO. The stock will be listed on the Nasdaq under the symbol “SGRY”