ASC operator and physician services company Envision has filed for Chapter 11 bankruptcy, restructuring to deal with $7 billion in outstanding debt. Under the restructuring agreement, AmSurg will buy all ASCs held by Envision for $300 million.
Though Envision said it intends to continue operations, the company plans to layoff 329 employees, according to a May 22 report from Medscape based on Worker Adjustment and Retraining Notification notices filed in Pennsylvania and New York.
Workforce adjustments were previously planned, separate from the recent financial filing.
Envision has promised to help affected workers by identifying open positions within the company, host job webinars for open positions and provide outplacement services, according to the report.