01:38 PM EST, 01/28/2025 (MT Newswires) -- Surgery Partners ( SGRY ) confirmed Tuesday afternoon that Bain Capital Private Equity had sent a non-binding proposal to buy all of the company's shares it doesn't already own for $25.75 per share in cash.

Bain Capital and affiliates currently own about 39% of the company's stock, according to a statement.

A special committee of independent directors will review the proposal with the help of financial and legal advisors, the company said, adding that any potential deal would require the approval of a majority of shares not owned by Bain Capital and its affiliates, as well as clearance from the committee.

The company said no decisions have been made yet regarding the proposal, and there is no guarantee that a final offer would be made or approved.

Bain Capital earlier Tuesday said it delivered the proposal late Monday to Surgery Partners' ( SGRY ) board.

Shares of Surgery Partners ( SGRY ) rose 19% in recent trading.

Price: 25.30, Change: +4.05, Percent Change: +19.06