Envision Healthcare Aims to Acquire the Emergency Physicians Medical Group
FREMONT, CA: Envision Healthcare Holdings enters into an agreement to acquire Emergency Physicians Medical Group (EPMG) based in Michigan’s Ann Arbor. With annualized net revenue of approximately $140 million, it is expected to be contributed by the EPMG firm.
EPMG conducts community based paramedicine programs and offers telemedicine services in post-acute and urgent care operations. Additionally, EPMG’s clinicians manage about one million cases in hospital medicine and emergency units, and in the urgent care centers in Michigan.
"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," said Christopher R.H. Newton, MD, President, CEO and Managing Partner, EPMG.
To acquire EPMG, Envision awaits an investment of approximately $120 million based on the post-closing performance of EPMG. Pending due to the satisfaction of certain closing conditions, the transaction is expected to complete within 30 days.
Envision also reveals the fact that its American Medical Response (AMR) healthcare transportation segment has procured three new contracts with large healthcare systems. The company will also start offering system relief to EMS and DC Fire by including basic life support services in the Washington metro area. Once the proposed plan is fully operational, the agreements are predicted to generate annual revenue of approximately $45 million and over 125,000 transports.
Envision Healthcare Holdings offers a wide range of healthcare based services to hospitals, consumers, state and national government entities, healthcare systems and health plans. The firm facilitates care via Evolution Health, American Medical Response (AMR) and EmCare Holdings.
"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," said Edward Van Horne, President and CEO, AMR.