Here are five key notes:
1. Through the union of AMR and AMGR, Envision and AMGR established an integrated medical transportation company projected to transport upwards of 5 million patients annually across 46 states and Washington, D.C.
2. KKR will acquire AMR from Envision in a cash transaction totaling $2.4 billion.
3. The combined company will be renamed once the deal is completed.
4. The combined company’s leadership team will retain several individuals who served as executives of AMGH and AMR. This includes:
• Envision President of Ambulatory Services Randel Owen will be the company’s president and CEO
• Fred Buttrel will maintain his positions as AMGH president and CEO
• AMR President and CEO Edward Van Horne will continue in these roles
• AMGH CFO Michael Preissler and AMGH General Counsel Thomas Cook will maintain their positions for the combined entity
5. The deal is subject to regulatory approval and customary closing conditions. Envision and AMGH anticipate closing the deal in the fourth quarter this year.
“We are pleased to have identified a strong partner for AMR,” said Christopher A. Holden, Envision’s president and CEO. “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.”
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