Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Amsurg (AMSG.DL), an operator of ambulatory surgery centers around the U.S. in partnership with physicians, surged as much as 13% after announcing before the opening bell that it had agreed to acquire privately held Sheridan Healthcare.

So what: Under the terms of the deal, Amsurg will pay $2.35 billion in a combination of cash and stock to acquire Sheridan Healthcare. The deal, which would be expected to close in the third quarter, will immediately be accretive to revenue, EBITDA, and earnings, and would act as a complementary avenue for Amsurg to enter the physician outsourcing market. Per its press release, "The combined company will have a total addressable market of approximately $70 billion and will encompass more than 4,600 physician relationships across 38 states."

Now what: Amsurg hit on the key words that any investor wants to hear when a company makes a purchase: "immediately accretive to earnings." The move appears to be a smart one for Amsurg with its own revenue growth stagnating in recent years and investors clearly eager for management to find new sources of growth. As Amsurg notes, investors can expect an approximate 15% EPS accretive boost in 2015. Better-than-expected Obamacare enrollment may also help if suddenly more insured people opt to see their physician resulting in more preventative surgical procedures being performed. All told this looks like a smart deal for Amsurg that should benefit investors over the long run.