KKR is buying Envision Healthcare in a almost $10B deal

K.K.R. Said to Be Near Deal to Acquire Envision Healthcare

K.K.R., the private equity giant, is near a deal to buy Envision Healthcare, a person briefed on the matter said on Sunday, months after the company put itself up for sale as controversy over its hospital billing practices mounted. Including debt, the deal is valued at approximately $9.9 billion.

KKR arranged financing equal to 7.25 times Envision's earnings before interest, taxes, depreciation and amortization (Ebitda) to finance the deal, a source close to the situation said. The all-in price tag makes it one of the largest recent leveraged buyouts.

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Envision provides physician services for emergency departments and in anesthesiology and radiology, among other specialties. The firm scooped it for $2.4 billion past year and merged it with its helicopter ambulance service.

The agreement will come less than two weeks after KKR said it will buy US business software company BMC Software in a deal which sources valued at $8.5 billion, including debt, making it the buyout firm's largest acquisition since the 2008 financial crisis. KKR also took WebMD Health private for about $2.8 billion in 2017. "Overheated?" a partner at a large private equity firm asked rhetorically.

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