Envision Healthcare

Envision Healthcare is an American healthcare company and national hospital-based physician group.

Envision Healthcare
FormerlyEmergency Medical Services Corporation
TypeSubsidiary
NYSE: EVHC
IndustryHealthcare
HeadquartersNashville, Tennessee
Key people
Jay F. Grinney (Chairman)
[1]
RevenueUS$ 14.7 billion (2017)[2]
Number of employees
57,750 (2017)[3]
ParentKohlberg Kravis Roberts
Websiteevhc.net

History

In December 2016, Envison and AMSURG merged, and shortly thereafter the company's stock replaced Legg Mason in the S&P 500 index.[4][5]

In 2017, the company's subsidiary EmCare, came under scrutiny due to healthcare consumers being shocked by high medical bills from Envision's out-of-network healthcare providers.[6][7][8] In August 2017, Envision sold its ambulance unit, American Medical Response, for $2.4 billion to KKR, which combined it with a similar company it already owned.[9] In 2017, the company reported a net loss of $232.5 million on revenue of $7.8 billion.[10]

In June 2018, KKR announced that it was acquiring the rest of Envision for Envision for $9.9 billion, including the assumption or repayment of debt.[10]

In February 2020, Envision Healthcare announced the appointment of James Rechtin as CEO.[11] In April 2020, they were considering bankruptcy.[12] In October 2020, it was announced that Cigna and Envision had renewed their agreement to include Envision's clinicians as in-network providers to Cigna's members.[13]

References
  1. "Company Overview of Envision Healthcare Corporation". Bloomberg. Retrieved June 11, 2018.
  2. "Fortune 500". Retrieved 2018-11-22.
  3. "Envision Healthcare". Archived from the original on 27 May 2018. Retrieved November 27, 2018.
  4. "Press release: Mid-America Apartment Communities, AmSurg to Join S&P 500; Others to Join S&P MidCap 400 and S&P SmallCap 600" (PDF). S&P Indices. November 29, 2016.
  5. "Press release: Envision Healthcare and AMSURG Complete Transformational Merger". Envision. December 1, 2016.
  6. de la Merced, Michael J. (June 10, 2018). "K.K.R. Said to Be Near Deal to Acquire Envision Healthcare". New York Times.
  7. Creswell, Julie; Abelson, Reed; Sanger-Katz, Margot (July 24, 2017). "The Company Behind Many Surprise Emergency Room Bills". New York Times.
  8. "The price of medical emergencies: Study examines out-of-network billing". YaleNews. 24 July 2017.
  9. "Envision to sell ambulance business to KKR in $2.4 billion deal". Reuters. 2017-08-08. Retrieved 2020-07-10.
  10. Livingston, Shelby (June 11, 2018). "Envision Healthcare to be acquired by KKR". Modern Healthcare.
  11. "Envision Healthcare names new CEO, says surprise billing inquiry didn't influence change". Radiology Business. Retrieved 2020-03-11.
  12. "Envision Healthcare to Consider Bankruptcy Filing". Bloomberg. Retrieved 23 April 2020.
  13. Hackett, Mallory (22 October 2020). "Cigna renews partnership with Envision Healthcare to give in-network access to its Florida members". Healthcare Finance News. Retrieved 2020-11-11.
  • Business data for Envision Healthcare Holdings, Inc.:
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