KKR nears deal to buy Envision Healthcare for USD 5.5 billion
Category: #health  By Saipriya Iyer  Date: 2018-06-11
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KKR nears deal to buy Envision Healthcare for USD 5.5 billion

KKR & Co. L.P., a global investment firm, is reportedly on the verge of signing a purchase deal with Envision Healthcare Corp., one of the largest physician staffing organizations in the U.S. The deal is estimated at USD 5.5 billion, claim sources familiar with the matter.

As per the terms & conditions of the proposed agreement, KKR will pay approximately USD 46 for each of Envision’s share in cash. The price is five percent more than the estimated closing stock price of Envision as displayed on last Friday. In 2017, both these firms had entered a contract, according to which Envision agreed to sell ambulance operations to KKR’s Air Medical Group for nearly USD 2.4 billion.

Reportedly, in May this year, KKR & HCA Healthcare Inc. had made a joint acquisition bid for Envision with an aim to have a competitive advantage over their other business rivals trying to acquire the healthcare firm.

Other firms looking for buying Envision include a group of Carlyle Group LP and TPG, cite sources. Last year, Envision had announced that it was reviewing many strategic options after experiencing disappointing third-quarter earnings. As reported by the NY Times, last year Envision incurred a loss of about USD 228 million, though it had garnered USD 7.8 billion in terms of revenue.

A few weeks back, the U.S. based private equity organization declared to purchase BMC software, a U.S. tech company, from Bain Capital & Golden Gate Capital for USD 8.5 billion. This has been the largest acquisition move made by KKR since 2008, including debt coverage.

Reportedly, 2017 had proved to be a successful year for KKR & Co. L.P., as the company had managed to accrue commendable funding proceeds during the 12-month span. For the record, the private equity organization’s fund closings included a healthcare fund worth USD 1.45 billion and a North America private equity fund worth USD 13.9 billion.



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Saipriya Iyer

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Saipriya Iyer

Saipriya Iyer develops content for Market Size Forecasters, Algosonline, and myriad other platforms. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her bel...

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