TPG To Acquire HealthSouth Surgery Division

TPG has agreed to acquire the Surgery Division of HealthSouth Corp. (NYSE: HLS), a network of 139 outpatient surgery centers and three surgical hospitals in 35 states that provide surgical services to physicians and their patients. The deal is valued at approximately $945 million, including a $920 million purchase price and an equity interest whereby HealthSouth has the opportunity to participate in newly-formed company.