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June 15, 2016 12:00 AM

AmSurg, Envision Healthcare to merge

Dave Barkholz
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    AmSurg and Envision Healthcare have agreed to combine forces, creating one of the largest physician staffing companies in the country.

    In addition to a physician staffing business, Nashville-based AmSurg would contribute more than 250 ambulatory surgery centers to the combined company. Envision Healthcare has a large physician-staffing unit as well as major national presence in ambulance services.

    The deal is an all-stock transaction. Envision shareholders will obtain 53% of the new company and AmSurg shareholders 47%. The new company will be called Envision Healthcare Corp., the companies said in a news release Wednesday.

    The two companies had combined revenue of more than $8.5 billion and EBITDA of $1.1 billion for the 12 months ended March 31.

    Combined, the companies have a market capitalization of $10 billion and an enterprise value, which includes all assets, of $15 billion.

    The companies said they expected about $100 million in synergies by combining the businesses. The combined company will be co-headquartered in Nashville and Greenwood, Colo.

    Envision CEO William Sanger will be executive chairman of the new company, and AmSurg CEO Chris Holden will be CEO.

    AmSurg Chief Financial Officer Claire Gulmi will be CFO of the combined company, while Envision CFO Randy Owen will become president of ambulatory services.

    Analysts have said the benefits of an AmSurg-Envision merger would be relatively modest. It would create some cross-selling opportunities for Envision to win emergency-room physician staffing contracts in hospitals where AmSurg has a presence and for AmSurg to seek anesthesiology business where Envision is strong.

    Last autumn, AmSurg made an unsolicited $5 billion bid to buy rival TeamHealth, an offer that was dropped after TeamHealth rejected it.

    AmSurg was largely an owner and operator of ambulatory surgery centers until it bought physician staffing giant Sheridan Healthcare in 2014 for more than $2 billion.

    In 2015, AmSurg made about $1 billion of acquisitions, mostly buying practices of anesthesiologists, neonatologists, radiologists and emergency physicians who serve in hospitals.

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    • News
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      • Transformation
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      • ESG
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      • Regional News
        • Midwest
        • Northeast
        • South
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      • Digital Edition (Web Version)
    • Blogs
      • AI
      • Deals
      • Layoff Tracker
      • HIMSS 2023
    • Opinion
      • Breaking Bias
      • Commentaries
      • Letters
      • From the Editor
    • Events & Awards
      • Awards
        • Nominate/Eligibility
        • 100 Most Influential People
        • 50 Most Influential Clinical Executives
        • Best Places to Work in Healthcare
        • Excellence in Governance
        • Health Care Hall of Fame
        • Healthcare Marketing Impact Awards
        • 40 Under 40
        • Top Innovators
        • Diversity in Healthcare
          • - Luminaries
          • - Top 25 Diversity Leaders
          • - Leaders to Watch
        • Women in Healthcare
          • - Luminaries
          • - Top 25 Women Leaders
          • - Women to Watch
      • Conferences
        • Digital Health Transformation Summit
        • ESG: The Implementation Imperative Summit
        • Leadership Symposium
        • Social Determinants of Health Symposium
        • Women Leaders in Healthcare Conference
      • Galas
        • Best Places to Work Awards Gala
        • Health Care Hall of Fame Gala
        • Top 25 Diversity Leaders Gala
        • Top 25 Women Leaders Gala
      • Virtual Briefings
        • - Hospital of the Future
        • - Value Based Care
        • - Hospital at Home
        • - Workplace of the Future
        • - AI and Digital Health
        • - Future of Staffing
        • - Hospital of the Future (Fall)
      • Webinars
    • Multimedia
      • Podcast - Beyond the Byline
      • Sponsored Podcast - Healthcare Insider
      • Sponsored Video Series - One on One
      • Sponsored Video Series - Checking In with Dan Peres
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