Surgery Partners (SGRY) IPO Opens Lower Despite Weak Pricing

Today's IPO for Surgery Partners (Nasdaq: SGRY) opened for trading at $17.55 after pricing 14.3 million shares at at $19, below the expected $23-$26 range.

The offer was led by BofA Merrill Lynch, Goldman Sachs, Jefferies, Citi, Morgan Stanley, Credit Suisse, Raymond James and RBC Capital Markets.

Surgery Partners is a leading healthcare services company with a differentiated outpatient delivery model focused on providing high quality, cost effective solutions for surgical and related ancillary care in support of both patients and physicians. Founded in 2004, Surgery Partners is one of the largest and fastest growing surgical services businesses in the country, with a portfolio of 99 surgical facilities comprised of 94 ambulatory surgery centers and 5 surgical hospitals across 28 states.

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