We represented Envision Healthcare Corporation (NYSE: EVHC) in its sale to KKR in an all-cash transaction for $9.9 billion, including debt. KKR paid $46 per Envision share in cash to buy the company, marking a 32 percent premium to the company’s volume-weighted average share price from November 1, when Envision announced it was considering its options. The transaction closed in October 2018.
Bass, Berry & Sims has served as primary corporate and securities counsel to Envision for more than 20 years. Additional details about the transaction can be found in the official news release posted on KKR’s website.
The transaction was also covered by various media outlets, including:
- “KKR to Acquire Envision Healthcare for $5.5 Billion,” The Wall Street Journal (June 11, 2018)
- “Simpson Thacher Leads KKR In $9.9B Envision Healthcare Buy,” Law360 (June 11, 2018)
- “K.K.R. Said to Be Near Deal to Acquire Envision Healthcare,” The New York Times (June 10, 2018)
Envision Healthcare Corporation is a leading provider of physician-led services and post-acute care, and ambulatory surgery services. As of December 13, 2018, they delivered physician services, primarily in the areas of emergency department and hospitalist services, anesthesiology services, radiology/tele-radiology services and children’s services to more than 1,800 clinical departments in healthcare facilities in 45 states and the District of Columbia.
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, growth equity, energy, infrastructure, real estate and credit, with strategic manager partnerships that manage hedge funds.