The U.S. Bankruptcy Court for the Southern District of Texas Houston Division confirmed Envision’s plans to reorganize as it emerges from bankruptcy, which will eliminate 70% of its prepetition funded debt.
AmSurg has about 2,000 physicians and 250 surgery centers across 34 states. The number of AmSurg ASCs grew 17% since 2011.
“I appreciate the collaboration with Envision leaders that has brought us to this point,” AmSurg President, Jeff Snodgrass, said in the release. “We have built strong momentum as an organization that will propel our path to growth. I look forward to AmSurg’s next chapter and am grateful for the efforts of our teams, centers and physician partners that drive our success.”
Envision, which is AmSurg’s parent company, filed for Chapter 11 bankruptcy in May. At the time, it had about $7 billion of outstanding debt.
The separation is expected to happen in the coming weeks, subject to customary closing procedures and conditions.
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