NovaMed, which holds a majority stake in 37 surgery centers in 19 states, said today it has agreed to be acquired by a Florida company called Surgery Center Holdings Inc. for about $109 million.

Surgery Center Holdings, based in Tampa, is an affiliate of a Miami-based private equity firm, HIG Capital. Surgery Partners, an affiliate of Surgery Center Holdings, will also assume and repay $105 million in NovaMed's debt.

The deal was unanimously approved by NovaMed's board of directors. It is subject to approval by its shareholders, who will receive $13.25 per share in cash under the agreement, a premium of 17% over the company's 90-day average closing price.

NovaMed expects the deal to close in the second quarter of this year.

Dan O'Connor

More breaking news