NovaMed also owns The Alliance,
an optical and medical product
buying group.
CHICAGO—NovaMed (Nasdaq: NOVA)—which operates ambulatory surgery centers in partnership with physicians as well as two buying groups in the optical industry—is set to be acquired by Surgery Center Holdings, an affiliate of private equity firm H.I.G. Capital.

Under terms of the deal, NovaMed's stockholders will receive $13.25 per share. Total value of the transaction is approximately $214 million, including the assumption or repayment of about $105 million of NovaMed's debt, an announcement said. The acquisition is expected to close in the second quarter, subject to approval by a majority of NovaMed stockholders. The company's board of directors voted unanimously for the agreement.

NovaMed currently holds majority ownership interests in 37 surgery centers in 19 U.S. states. It also owns The Alliance, an optical and medical product buying group, and Optical Synergies, a wholesale lab buying group.