Symbion completes merger with Crestview affiliate

By Lisa Kerner

Charlotte, N.C., Aug. 23 - The merger of Symbion, Inc. with an affiliate of Crestview Partners, LP is complete, Symbion announced on Thursday.

As a result, Symbion's common stock will no longer be traded on the Nasdaq Stock Market.

Symbion shareholders approved the $22.35-per-share cash merger agreement at a special meeting on Aug. 15. The companies entered into the agreement on April 24.

"We are very pleased to partner with Crestview Partners, an outstanding private equity sponsor that shares our commitment to quality care and our physician and hospital partners," Symbion chairman and chief executive officer Richard E. Francis, Jr., said in a company news release.

"We believe that this transaction is good for our stockholders and positions Symbion for future growth, both in existing and new markets."

Symbion is a Nashville-based owner and operator of short-stay surgical facilities.

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