This extraction is sourced from Surgery Partners' 8-K press release exhibit (Exhibit 99.2) filed with the SEC on September 17, 2026, announcing deal completion. The transaction had been previously announced and was disclosed here as fully closed, with Surgery Partners updating its full-year 2026 financial guidance to reflect the divestiture.
Barclays served as the lead financial advisor to Surgery Partners, the seller, while RBC Capital Markets, LLC served as the lead financial advisor to Intermountain Health, the buyer. Both banks held lead advisory roles for their respective sides.
On the legal side, McDermott Will & Schulte LLP served as legal counsel to Surgery Partners, while Hall, Render, Killian, Heath & Lyman, P.C. served as legal counsel to Intermountain Health.
The divestiture was structured as a sale of ownership interests under Securities Purchase Agreements, representing an approximately 7x multiple of the Idaho Falls Facilities' last-twelve-months adjusted EBITDA (through June 30, 2026). Physician ownership of Mountain View Hospital was to remain unchanged under Intermountain Health's leadership. Surgery Partners stated the proceeds would be used primarily to pay down debt, improving balance sheet leverage by 30 basis points from 4.4x at the end of the second quarter of 2026, and described the deal as part of a broader portfolio optimization that included reducing Medicaid payor mix and eliminating several lower-margin service lines across its remaining business.
The press release does not disclose the specific advisory fees paid to Barclays or RBC Capital Markets, nor does it break out how the $797 million gross proceeds figure splits between the two individual hospital facilities within the combined Idaho Falls transaction.