Envision Healthcare, AmSurg to Merge
June 15 2016 - 5:00PM
Dow Jones News
Envision Healthcare Holdings Inc. and AmSurg Corp. agreed to
merge, according to people familiar with the matter, in a deal that
will create a health-services provider worth some $10 billion.
The all-stock deal has a fixed exchange ratio of 0.334 AmSurg
share per Envision share, according to one of the people. Envision
shareholders will own about 53% of the combined company, which is
to be named Envision Healthcare Corp., this person said.
The companies are expected to announce the agreement Wednesday,
confirming a report in The Wall Street Journal last week.
The combined company will be led by Envision Chief Executive
William Sanger, who will become executive chairman, and AmSurg CEO
Christopher Holden, who will take that role at the new group. It
will have a market capitalization of around $10 billion, and
provide a range of health-care services. AmSurg, of Nashville,
Tenn., provides outsourced physician services to hospitals and
others. It is also a big player in so-called ambulatory surgery,
with about 250 facilities performing procedures that don't require
an overnight stay.
Envision, based in Greenwood Village, Colo., also provides
physician services such as emergency care, anesthesiology and
surgery, in addition to ambulance and other medical-transportation
services.
The combined company will have dual headquarters in Nashville
and Greenwood Village.
Write to Dana Cimilluca at dana.cimilluca@wsj.com and Dana
Mattioli at dana.mattioli@wsj.com
(END) Dow Jones Newswires
June 15, 2016 16:45 ET (20:45 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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