Envision Healthcare Completes Divestiture of American Medical Response
Business Wire 14-Mar-2018 4:15 PM
NASHVILLE, Tenn.--(BUSINESS WIRE)-- Envision Healthcare Corporation (Envision) (NYSE: EVHC) today announced the completion of the previously announced divestiture of its medical transportation business, American Medical Response, to an entity affiliated with KKR. The divestiture is a major step in rationalizing Envisions physician services and ambulatory surgery portfolio. Envision anticipates using the net proceeds of approximately $2.1 billion from the sale to reduce debt outstanding under its existing Term Loan B credit facility.
We continue to focus on our vision of being a leading provider of physician services and ambulatory surgery solutions and trusted partner for hospitals and health systems in the development of high performing clinical networks across the U.S., stated Christopher A. Holden, President and Chief Executive Officer of Envision Healthcare Corporation.
Envision Healthcare provides physician services in the areas of emergency medicine and hospitalist services, anesthesiology services, radiology/tele-radiology services and children's services, covering more than 1,800 clinical departments in healthcare facilities in 45 states and the District of Columbia and partners with more than 3,000 providers at more than 260 ambulatory surgery centers across the U.S.
About Envision Healthcare Corporation
Envision Healthcare Corporation is a leading provider of physician-led services and post-acute care, and ambulatory surgery services. At December 31, 2017, we delivered physician services, primarily in the areas of emergency department and hospitalist services, anesthesiology services, radiology/tele-radiology services, and childrens services to more than 1,800 clinical departments in healthcare facilities in 45 states and the District of Columbia. Post-acute care is delivered through an array of clinical professionals and integrated technologies which, when combined, contribute to efficient and effective population health management strategies. As a market leader in ambulatory surgical care, the Company owns and operates 264 surgery centers and one surgical hospital in 35 states and the District of Columbia, with medical specialties ranging from gastroenterology to ophthalmology and orthopedics. In total, the Company offers a differentiated suite of clinical solutions on a national scale, creating value for health systems, payors, providers and patients. For additional information, visit www.evhc.net.
Certain statements and information in this communication may be deemed to be forward-looking statements within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, but are not limited to, statements relating to the Companys financial and operating objectives, plans and strategies, industry trends, and all statements (other than statements of historical fact) that address activities, events or developments that the Company intends, expects, projects, believes or anticipates will or may occur in the future. These statements are often characterized by terminology such as believe, hope, may, anticipate, should, intend, plan, will, expect, estimate, project, positioned, strategy and similar expressions, and are based on assumptions and assessments made by the Companys management in light of their experience and their perception of historical trends, current conditions, expected future developments, and other factors they believe to be appropriate. Any forward-looking statements in this communication are made as of the date hereof, and the Company undertakes no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance. Whether actual results will conform to expectations and predictions is subject to known and unknown risks and uncertainties, including: (i) risks and uncertainties discussed in the reports and other documents that the Company files with the Securities and Exchange Commission; (ii) general economic, market, or business conditions; (iii) the impact of legislative or regulatory changes, such as changes to the Patient Protection and Affordable Care Act, as amended by the Health Care and Education Reconciliation Act of 2010; (iv) changes in governmental reimbursement programs; (v) decreases in revenue and profit margin under fee-for-service contracts due to changes in volume, payor mix and reimbursement rates; (vi) the loss of existing contracts; (vii) risks associated with the ability to successfully integrate the Companys operations and employees following the completion of the December 2016 merger of equals; (viii) the ability to realize anticipated benefits and synergies of the business combination; (ix) the potential impact of the consummation of the transaction on the Companys relationships, including with employees, customers and competitors; (x) the impact of the Companys previously announced review of strategic alternatives, as well as any strategic transaction that may be pursued as a result of such review, including the Companys financial and operating results, or its employees, suppliers and customers; and (xi) other circumstances beyond the Companys control.
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Envision Healthcare Corporation Kim Warth, 303-720-0438National Director of CommunicationsKim.email@example.com
Source: Envision Healthcare Corporation