Shares of Surgery Partners Inc. jumped nearly 46% on Monday. The outpatient surgery operator agreed to be acquired by an affiliate of Bon Secours Mercy Health in an all-cash deal that values the company at about $5.7 billion including debt.

Surgery Partners shares rose $7.23 to $22.98 in morning trading on the Nasdaq. More than 23 million shares had changed hands by mid-morning, roughly 10 times the stock's three-month daily average of about 2.25 million. The gain lifted the company's market value to about $3 billion.

Even after Monday's jump, the stock is down about 31% over the past 52 weeks.

Under the agreement, HealthSpan Partners will pay $23.50 a share in cash to all shareholders except affiliates of Bain Capital, Surgery Partners' largest investor. HealthSpan Partners is a contractual affiliate and supporting organization of Bon Secours Mercy Health, one of the largest Catholic health systems in the United States.

The offer is about 49% above Friday's closing price of $15.75. On Monday the stock traded slightly below the offer price, a gap that typically reflects the time needed to close a deal and the risk that it falls through.

Bain Capital affiliates own about 39% of Surgery........

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