LONDON, UK / ACCESSWIRE / August 10, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Envision Healthcare Corp. (NYSE: EVHC) ("Envision"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=EVHC. The Company, which is a leading provider of physician-led services, post-acute care, and ambulatory surgery, announced on August 08, 2017, that it has entered into a definitive agreement with an entity controlled by KKR & Co. L.P. (NYSE: KKR) ("KKR"). KKR is a New York buyout firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit and, through its strategic partners and hedge funds. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Under the agreement, KKR's portfolio company, Air Medical Group Holdings (AMGH), and Envision's medical transportation subsidiary, American Medical Response (AMR), will be combined to create a new medical transportation company.

AMGH is a leading provider of air and ground ambulance programs in the US and internationally, whereas AMR is America's leading provider of medical transportation which provides services in 40 states and the District of Columbia.

The transaction is being structured as a cash acquisition of AMR from Envision valued at $2.4 billion.

Creation of an Integrated Medical Transportation Company

The combination of AMGH and AMR will make an integrated medical transportation company with the capability to serve patients across multiple transport modalities in the patient's time of need. It is anticipated that the combined Company will transport over five million patients per year through a fleet of air and ground ambulances across 46 states and the District of Columbia.

After the transaction is completed, the new combined company will embrace a new name that reveals the unique capabilities of both the organizations. AMR and AMGH will continue to support operations from two key leadership locations in Greenwood Village, Colorado, and Lewisville, Texas.

Following the closing of the transaction, AMR and AMGH will continue to support operations from two key leadership locations in Greenwood Village, Colorado, and Lewisville, Texas. These two divisions will continue to be managed by robust leadership with wide-ranging experience in running medical transportation organizations.

In this regard, Jim Momtazee, Chairman of AMGH and Head of KKR's Health Care industry team mentioned that AMGH and AMR are preeminent providers of medical transportation responsible for delivering care to millions of patients every year. He was pleased to bring together these two great companies and was looking forward to supporting the growth of their combined business

Envision to Sharpen Focus on Core Business

Christopher A. Holden, Envision's President, and Chief Executive Officer, expressed his pleasure on finding a strong partner for American Medical Response. He shared that the Envision leadership team had conducted a vigorous process to review all strategic alternatives for AMR. The agreement would enable Envision to focus on its physician-centric strategy and ongoing services, such as facility-based provider services, post-acute care, and ambulatory surgery. It will also deliver on the Company's commitment to continue the proud tradition of AMR as per Mr. Holden.

KKR to Get the Best of AMGH and AMR

The merger with AMR would allow KKR's Air Medical Group to substitute costly helicopter flights with ambulances for shorter trips.

Once the transaction is closed, Randel G. Owen, Envision's President of Ambulatory Services will take up the role of President and Chief Executive Officer of the newly combined Company. Owen shared his excitement on getting together 27,000 team members from AMR and 6,600 team members from AMGH to deliver customized solutions. He stated that this unique partnership would create a remarkable medical transportation company, which would offer seamless, reliable, and quality patient care to communities as well as health systems. Moreover, the breadth of the combined organization will enhance the Company's ability to improve patient care in the ever-changing healthcare landscape.

On the other hand, Fred Buttrell will continue as the President and Chief Executive Officer of the Air Medical division. He shared that AMGH and AMR have worked together in many markets as well as disaster response. In the future, they will come up with more integrated service offerings for patients, health systems, and regions. He said that both Companies would reserve the best attributes of each other focusing on local market solutions for the benefit of all stakeholders. As the new company expands its footprint in underserved communities, employees would also benefit from the availability of greater opportunities.

Edward Van Horne will continue as President and Chief Executive Officer of the AMR division whereas Michael Preissler, Chief Financial Officer at AMGH, and Thomas Cook, General Counsel at AMGH, will serve in the same roles for the combined Company.

Transaction Financing and Closing

The transaction is subject to regulatory approval and customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act. It is expected to close in the fourth quarter of 2017. KKR will get preferred equity financing for the transaction mainly through its North America XI Fund and by Koch Equity Development LLC (KED), the investment and acquisition subsidiary of Koch Industries Inc.

Last Close Stock Review

On Wednesday, August 09, 2017, Envision Healthcare's stock closed the trading session at $54.35, dropping 2.16% from its previous closing price of $55.55. A total volume of 2.15 million shares were exchanged during the session, which was above the 3-month average volume of 1.40 million shares. The stock currently has a market cap of $6.34 billion.

At the closing bell, on Wednesday, August 09, 2017, KKR & Co.'s stock slipped 2.05%, ending the trading session at $19.12. A total volume of 3.16 million shares have exchanged hands, which was higher than the 3-month average volume of 2.66 million shares. The Company's stock price surged 1.54% in the last three months, 4.08% in the past six months, and 28.58% in the previous twelve months. Moreover, the stock rallied 24.24% since the start of the year. The stock is trading at a PE ratio of 7.91 and has a dividend yield of 3.56%. The stock currently has a market cap of $15.50 billion.

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