Wednesday, March 16, 2016
Envision Healthcare Holdings, Inc. announces a definitive agreement to acquire Emergency Physicians Medical Group (EPMG) based in Ann Arbor, MI whose more than 500 clinical providers staff 37 facilities in Michigan, Illinois, Indiana, Ohio, Iowa and Delaware. EPMG is expected to contribute annualized net revenues of approximately $140 million.
EPMG clinicians manage nearly one million patient encounters annually in emergency and hospital medicine departments as well as urgent care centers across the Midwest. In addition, EPMG operates community paramedicine programs and provides telemedicine services in urgent care and post-acute care operations.
“EPMG is celebrating 40 years of delivering innovative and compassionate care and we found ourselves considering opportunities to further evolve so we are well positioned to best serve our patients for the next 40 years,” said Christopher R.H. Newton, MD, president, chief executive officer and managing partner of EPMG. “Joining the Envision team not only allows us unparalleled infrastructure support and the ability to offer additional integrated services to our facility partners, it enables us to broaden our reach in our communities by partnering with EmCare, Evolution Health and AMR.”
Envision continues to attract physician groups interested in building progressive, team-based and integrated solutions for health plan, hospital system and community partners.
“We are proud to welcome EPMG to our healthcare family,” said Todd Zimmerman, chief executive officer of EmCare. “This not only allows us to affiliate with high quality clinicians, it expands our ability to deliver solutions across the care continuum in the Midwest.”
“We have advanced our market-centric strategy for several years and this is yet another example of how we are building strategic centers of healthcare excellence in key geographic locations,” added William A. Sanger, president, chief executive officer and chairman of the board of Envision. “EPMG has very strong relationships with its healthcare partners which will open doors for us to add additional hospital-based services as well as expand community health offerings through opportunities with AMR and Evolution Health.”
Envision expects to invest approximately $120 million, plus contingent consideration based on EPMG’s post-closing performance, to acquire EPMG. The transaction is anticipated to close within 30 days, pending satisfaction of certain closing conditions.
Envision also announces that its American Medical Response (AMR) healthcare transportation segment has secured three new contracts with large health systems and will also begin providing system relief to DC Fire and EMS by adding basic life support services in the Washington, D.C. metro area later this month. These agreements are anticipated to generate approximately $45 million in annualized revenues and more than 125,000 annual transports once fully operational.
“The success our teams have had building innovative partnerships with hospital systems and municipal fire agencies is indicative of the value AMR clinicians contribute as healthcare providers in the pre- and post-acute environments,” stated Edward Van Horne, president and chief executive officer of AMR. “The catalyst is that we are able to add value to their networks and improve outcomes by providing integrated delivery solutions that complement their systems.”
Source : investor.evhc.net
