KKR to buy Envision Health for $9.9 billion
Private equity firm KKR has agreed to acquire physician staffing and services company Envision Healthcare for approximately $9.9 billion (including assumed debt), or $46 per share in cash.
Why it's a big deal: Because Envision has come under serious scrutiny for its ER billing policies, and going private could further decrease transparency.
Notable absence: Hospital operator HCA did not participate in the final agreement, despite prior reports that it was working with KKR.
Bottom line: "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." Michael de la Merced, NY Times