KKR Said to Be Near Deal to Acquire Envision Healthcare - http://www.straittalk.co.za | make money onlineJune 11, 2018 12:22 am
Categorised in: Breaking Financial News
K.K.R., the private equity giant, is near a deal to buy Envision Healthcare, a person briefed on the matter said on Sunday, months after the company put itself up for sale as controversy over its hospital billing practices mounted.
The deal, which would be one of the biggest by a private equity firm in recent years, reflects Wall Street’s continued interest in the health care industry.
Envision, the product of a merger in 2016 of two hospital service providers, is one of the country’s biggest doctor-staffing companies, including for emergency room services. It also runs outpatient surgery centers. The company has gained business from hospitals that have come to rely on outside contractors to increase the efficiency of some areas, like emergency rooms, that have been financial drains in the past.
The company lost $228 million last year, though it collected $7.8 billion in revenue.
Envision has been under scrutiny for several months after The New York Times reported on large bills that have come from its physician-staffing business for emergency rooms. A study conducted by Yale found that hospitals where Envision’s Emcare unit operated appeared to charge more out-of-network bills for at least one insurer.