Envision Healthcare to Sell American Medical Response

NASHVILLE, Tenn. and LEWISVILLE, Texas – Envision Healthcare Corporation (Envision) (NYSE: EVHC) and an entity controlled by funds affiliated with KKR have entered into a definitive agreement under which KKR’s portfolio company, Air Medical Group Holdings (AMGH), and Envision’s medical transportation subsidiary, American Medical Response (AMR), will combine to create a new industry leading medical transportation company. The transaction will be structured as a cash acquisition of AMR from Envision valued at $2.4 billion. The combination of AMGH and AMR will create an integrated medical transportation company with the capability to serve patients across multiple transport modalities in the patient’s time of need. The combined company is expected to transport more than five million patients per year through a fleet of air and ground ambulances across 46 states and the District of Columbia. “We are pleased to have identified a strong partner for American Medical Response,” said Christopher A. Holden, Envision’s President and Chief Executive Officer. “The Envision leadership team conducted a robust process to review strategic alternatives for AMR. The agreement delivers on our commitment to continue the proud tradition of AMR and enables Envision to focus on its physician-centric strategy and ongoing services, including facility-based provider services, post-acute care and ambulatory surgery.” “AMGH and AMR are preeminent providers of medical transportation re...
Source: JEMS: Journal of Emergency Medical Services News - Category: Emergency Medicine Authors: Tags: Operations Industry News Source Type: news