Surgical Care Affiliates in $270 Million IPO

November 4, 2013

Cleary Gottlieb represented Surgical Care Affiliates, Inc. in its $270 million initial public offering of approximately 11.2 million shares of common stock (including full exercise of the underwriters’ option to purchase additional shares of common stock from certain of the selling stockholders). The offering priced at the top end of the range on October 29, 2013 at $24.00 per share and closed on November 4, 2013. Surgical Care Affiliates is majority-owned by affiliates of TPG Global, LLC, which participated in the offering as a selling stockholder and continues to own approximately 62.8% of the company.

Surgical Care Affiliates partners with physicians, health systems and payors to develop and implement surgery strategies across the country. As of June 30, 2013, Surgical Care Affiliates operated 173 surgical facilities – including ambulatory surgery centers, surgical hospitals and one sleep center – in partnership with approximately 2,000 physician partners and in affiliation with 42 leading health systems across the country. Surgical Care Affiliates’ clinical systems, service line growth strategies, benchmarking processes and efficiency programs create measurable advantages for surgical facilities – clinically, operationally and financially.