Thursday, June 16, 2016
Envision Healthcare and AmSurg announce merger. Combined organization will have a pro forma market capitalization of approximately $10 billion and enterprise value of approximately $15 billion.
Merger expected to be accretive to envision and amsurg adjusted earnings per share in 2017 and achieve synergies of $100 million.
Christopher A. Holden will be president and chief executive officer of combined company.
Claire Gulmi, AmSurg's chief financial officer, will retain that role at combined company.
JPMorgan Chase bank and Barclays have provided committed financing for transaction.
Companies will combine in an all-stock transaction at a fixed exchange ratio of 0.334 AmSurg shares per Envision share.
Envision shareholders will own about 53 percent, AmSurg shareholders will own about 47 percent of combined co on fully diluted basis.
William Sanger, who serves as president, CEO and chairman of board of Envision, will be executive chairman of board.
Following merger, company's common stock is expected to trade on New York Stock Exchange under ticker symbol: EVHC.
Combined co will be named envision healthcare corp and co-headquartered in Nashville, Tennessee and Greenwood Village, Colorado.
Newly formed board will consist of 14 directors, comprised of equal numbers of current Envision and AmSurg directors.
Source : reuters.com
