Bain Capital has submitted a non-binding proposal to acquire 100% of Surgery Partners' shares for cash consideration of $25.75 per share, representing a 21.2% premium. Surgery Partners has confirmed the receipt of this proposal and noted that Bain Capital already holds a 39% stake in the company. In a separate development, Zimmer Biomet has announced its acquisition of Paragon 28 for an upfront payment of $13.00 per share, corresponding to an equity value of $1.1 billion and an enterprise value of $1.2 billion. This acquisition represents an 8.3% premium over Paragon 28's previous trading price.