Envision Healthcare issues 2017 earnings guidance, names new executive

Envision Healthcare issued a guidance update on its fourth quarter fiscal year 2017 earnings and announced other transactions.

Here's what you should know:

1. While the company's final December 2017 results aren't available yet, Envision said October 2017 and November 2017 performance met expectations. Envision expects to generate between $1.88 billion and $2.02 billion in revenue. The company expects adjusted EBITDA between $182 million and $202 million, and adjusted earnings between $0.44 and $0.54 per share.

Envision anticipates announcing its fourth quarter and full year earnings in February.

2. Envision also announced the appointment of James Shelton as its lead independent director, effective immediately. Mr. Shelton served as Envision's director since May 2015. Preceding that, he was chairman, CEO and president of Plano, Texas-based Triad Hospital before its closure.

Envision also announced plans to change how it elects its directors annually. If a proposed charter amendment is approved by the company's shareholders, directors in 2018 will be elected to a three-year term, commencing with the 2019 meeting. The proposal would also allow groups of up to 20 shareholders that collectively own 3 percent of the company to nominate a limited number of candidates.

3. Envision expects to close the sale of American Medical Response in the first quarter of fiscal year 2018. The Envision subsidiary is expected to sell for $2.4 billion.

4. J.P. Morgan Securities, Evercore and Guggenheim Securities are advising Envision of strategic alternatives that can enhance shareholder value.

Mr. Shelton said, "The Board is exploring a full range of alternatives to enhance shareholder value. We are fully committed to conducting a comprehensive review and, while we cannot provide a timetable for completion or assurance that any transaction will be pursued, all options are on the table."

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