Pentwater’s 5.5% Stake Triggers Volume Spike at Surgery Partners

Introduction

Surgery Partners Inc (NASDAQ: SGRY) is a publicly traded healthcare services company headquartered in Brentwood, Tennessee. Since its founding in 2004, the company has developed an integrated delivery model focused on ambulatory surgery centers and related ancillary services. As of September 22, 2025, its shares are quoted at $21.62 per share, unchanged on the day, on the NASDAQ exchange.

Corporate Structure and Operations

Surgery Partners employs more than 15,000 staff members and partners with approximately 4,600 affiliated physicians. Together, they serve over 600,000 patients each year across more than 180 outpatient facilities nationwide. The company’s partnerships program offers flexible arrangements—ranging from equity partnerships to employed-physician models—tailored to the needs of individual physicians and local markets.

Ambulatory Surgery by JAFAR AHMED

Recent Developments and News

On August 13, 2025, Surgery Partners filed a Form 8-K (items 1.01, 2.03, 9.01) with the U.S. Securities and Exchange Commission, disclosing material corporate updates. On September 16, 2025, the company submitted another Form 8-K (item 5.02) to report a change in senior management effective September 11, 2025.

In a Schedule 13G filing dated August 14, 2025, Pentwater Capital Management LP disclosed beneficial ownership of 7 million shares—approximately 5.5% of outstanding common stock—reflecting shared voting and dispositive power.

The Surgery Partners team raised over $66,000 and assembled 102 walkers for the American Heart Association’s NashHeartWalk, indicating the company’s involvement in community health initiatives. CEO Eric Evans is scheduled to speak at the Nashville Health Care Council’s Sessions 2025 event on September 29–30, 2025.

Financial and Strategic Analysis

As of market close on September 22, 2025, Surgery Partners’ trading volume reached 145,025 shares versus an average daily volume of 13 shares, indicating increased investor activity. The unchanged share price suggests balance between buy and sell orders amid ongoing corporate transitions.

The company emphasizes growth in ambulatory care through new market entry, joint ventures, and enhanced service lines. Its integrated approach—combining surgical facilities, anesthesiology groups, and ancillary services—supports cost-effective solutions tailored to local patient populations. The management change reported on September 16 may influence capital allocation or operational priorities.

Market Position and Industry Context

The outpatient surgery segment continues to record higher growth rates than inpatient services, driven by technological advances and cost containment pressures. Surgery Partners competes alongside national healthcare operators such as HCA Healthcare, Lifepoint Health, and Community Health Systems. The recognition as one of Becker’s “150 Top Places to Work in Healthcare” for 2024 highlights the company’s focus on workplace culture as a factor in attracting talent. Compliance with federal health price transparency mandates further positions Surgery Partners to meet evolving regulatory requirements.

tl;dr

On August 14, 2025, Pentwater Capital Management acquired a 5.5% stake in Surgery Partners, and on September 16, 2025, the company reported a management transition effective September 11. As of September 22, 2025, shares trade at $21.62 with increased volume, reflecting investor interest amid corporate shifts. Surgery Partners continues to expand its ambulatory care activities, and CEO Eric Evans will present at Sessions 2025 on September 29–30, indicating a focus on outpatient growth.