Envision Healthcare

Envision Healthcare

Company type	Private
Industry	Healthcare
Headquarters	Nashville , United States
Key people	Jason Owen (President and CEO)
Products	Physician services, outpatient surgical centers (via AMSURG)
Parent	Kohlberg Kravis Roberts (KKR)

Envision Healthcare operates as a national physician group affiliated with hospitals and is a prominent healthcare organization within the United States.

History

In December 2016, Envision combined operations with AMSURG, leading to its shares replacing Legg Mason in the S&P 500 index soon thereafter.

The year 2017 saw Envision's subsidiary EmCare come under scrutiny due to elevated out-of-network medical billing practices. That August, Envision divested its ambulance division, American Medical Response, selling it for $2.4 billion to KKR, which subsequently integrated it with another similar entity in its portfolio. For that fiscal year, the company recorded a net loss amounting to $232.5 million on revenues totaling $7.8 billion.

In June 2018, KKR declared plans to purchase the remaining shares of Envision for $9.9 billion, inclusive of debt obligations either assumed or settled.

Jim Rechtin took on the role of CEO in February 2020. By April of the same year, Envision was reportedly exploring bankruptcy options. In October 2020, the company renewed a contract with Cigna, ensuring that Envision's healthcare providers remained in-network for Cigna's insured members.

Moody's issued a warning in September 2022 highlighting a significant bankruptcy risk for Envision. Subsequently, on May 15, 2023, the company filed for Chapter 11 bankruptcy. Later in October 2023, a U.S. bankruptcy court sanctioned a restructuring plan that would divide Envision into two separate entities: Envision Physician Services, which will concentrate on supplying doctors to emergency departments, intensive care units, and maternity wards; and AMSURG, which will operate outpatient surgical centers specializing in gastroenterology and orthopedic treatments.

Following Jim Rechtin's departure in November 2023 to assume the CEO position at Humana, Henry Howe was appointed as interim CEO. In April 2024, Jason Owen was named president and CEO.