Simpson Thacher is representing KKR in its acquisition of Covenant Surgical Partners, Inc. (“Covenant”) from DFW Capital Partners, Iroquois Capital Group, PineBridge Investments and other existing shareholders. Financial details of the transaction were not disclosed. The transaction, which is subject to regulatory approvals and other customary closing conditions, is expected to close in the third quarter of 2017.
Covenant is a leading acquirer and operator of ambulatory surgery centers (“ASCs”) and physician practices. Covenant currently provides gastrointestinal and ophthalmic procedures through thirty-seven ASC and physician practice locations across seventeen states.
The Simpson Thacher team includes Gary Horowitz, Jonathan Stradling, Todd Noelle and David Pupkin (M&A); James Cross and Christine Marshall (Credit); David Rubinsky, Jeannine McSweeney, Eric Wolf, Monisha Bhayana and Jake Phillips (Executive Compensation and Employee Benefits); Sophie Staples (Tax); Richard Fenyes (Capital Markets); Peter Guryan, Kelly Karapetyan and Richard Jamgochian (Antitrust); Lori Lesser and Linda Nyberg (Intellectual Property); and Steven DeLott (Insurance). Summer Associate Nicole Palmadesso also provided valuable assistance.