Private equity firm KKR & Co. announced its plan to buy Envision Healthcare for $5.57 billion and debt. The all-cash transaction will value Envision at $9.9 billion, according to Bloomberg.
Envision, based in Nashville, Tennessee, was a possible acquisition target for many major players in the market, after an activist investor said it was reviewing strategic alternatives.
“Envision is a leading provider of physician-led services in a health-care system in which physician-patient interactions have a pronounced impact on nearly all health-care decisions,” Jim Momtazee, KKR’s head of health-care investing, said in the statement. “We are excited to partner with the outstanding team.”
Envision’s shares were up 2.4 percent at 12:46 p.m. (EST).
Nicholas joined TriMed in 2016 as the managing editor of the Chicago office. After receiving his master’s from Roosevelt University, he worked in various writing/editing roles for magazines ranging in topic from billiards to metallurgy. Currently on Chicago’s north side, Nicholas keeps busy by running, reading and talking to his two cats.