🠈 Envision Healthcare 🠊
Envision Healthcare
Envision Healthcare is a nationwide physicians group with headquarters in Nashville, Tn. The company owns the AmSurg network of ambulatory care centers. Envision also provides anesthesiologists, radiologists, and neonatologists and has a number of ambulatory health care centers. Headquarters are in Nashville, Tennessee.1
Corporate History
It is difficult to trace the history of companies that get into the clutches of private equity firms. Various parts of Envision Healthcare have past through multiple firms. Each firm would mix the company up with other equities and sell them off.
It appears that company started with Paul Verrochi who thought he could roll up regional ambulance companies into a single monolith that could dominate and define the market.
- 1991: American Medical Response started with the mergers of Regional Ambulance and Vanguard Ambulance of California with Buck Ambulance in Portland.
- 1997: Laidlaw acquired AMR for $1.12 billion.
- 1999: Laidlaw acquired Greyhound which runs interstate buses.
- 2001: Laidlaw filed chapter 11.
- 2004: Onex bought AMR from Laidlaw for $980 million.
- 2005: Onex combined American Medical Response with EmCare to create Emergency Medical Services Corporation (EMSC) with headquarters in Denver.
- 2005: Onex held an IPO for 19.5% of the company on NYSE with symbol EMS in which they hoped to raise $117 million implying a total market value of $600 million.6
- 2013 the private equity firm Clayton, Dubilier & Rice acquired EMS for $2.9 billion and assumption of $300 million in debt.
- 2017: CDR changed the name of company to Envision Healthcare Corporation.
- 2017: CDR held IPO for Envision with symbol EVHC. The IPO raised $966 million with CDR retaining $3.2 billion.5
- 2016: Envision and AmSurg Corp. merged
History of AmSurg.
- 2011: AmSurg acquired National Surgical Care which had 18 ambulatory care centers for $173.5 million2
History of National Surgical Care
National Surgical Care was built by Dr. Timothy Geary who had previously owned National Surgery Centers which was acquired by HealthSouth Corp in 1998.
- 2016: AmSurg acquired AllegiantMD with provides radiological services in Tampa, Fl.4
- 2011: AmSurg acquired National Surgical Care which had 18 ambulatory care centers for $173.5 million2
- 2017: Envision sold the AMR (the ambulances) to KKR for $2.4 b.7
- KKR acquired Envision for $9.9 billion.1,3
References:
- Wikipedia - Envision Healthcare (Drawn 11/2/2019)
- Modern Health - AmSurg to Acquire National Surgical Care (Drawn 11/2/2019)
- Home Health Care - home health business aquired by KKR (Drawn 11/2/2019)
- HealthCareBusiness - AmSurg Acquires AllegiantMD (Drawn 11/2/2019)
- The Street - Envision Goes Public (Drawn 11/2/2019)
- Business Wire - 2005 EMS IPO (Drawn 11/2/2019)
- Financier - KKR Buys AMR for $2.4 bn (Drawn 11/2/2019)