NASHVILLE, Tenn.--(BUSINESS WIRE)--Envision Healthcare, a leading medical group, announced today it has successfully completed and emerged from its restructuring process with a markedly strengthened capital structure to support its growth as a leading medical group. Envision’s now effective Plan of Reorganization, supported by its key creditor groups and confirmed by the Bankruptcy Court on October 11, 2023, has reduced the company’s debt by more than 70%.
In connection with emergence, Envision Healthcare and AMSURG separated into two stand-alone entities with separate leadership teams and owner groups. Both companies, supported by new equity owners, are well positioned for long-term success.
“Envision continues to deliver high-performing services for our patients, hospital partners and the communities we serve,” said Envision Chief Executive Officer Jim Rechtin. “Now that our financial restructuring has been completed successfully, we are driving Envision’s future growth from a position of stability and strength. We have significantly less debt as well as a strong operating model that will fuel the success of our patients and partners, achieve our strategic objectives, and accelerate our growth.”
“Today’s emergence is the culmination of the hard work, collaboration, and vision of many,” continued Rechtin. “I especially want to thank our talented and committed Envision clinicians and teammates for their unwavering focus on continuing to deliver high quality patient care throughout this process – and thank our hospital partners, vendors and other valued partners for their trust and support. With a focus on innovation, reliability and high-performing service, we will continue as a leading medical group delivering care when its needed most.”
About Envision Healthcare
Envision Healthcare is a leading medical group that delivers physician and advanced practice provider services, primarily in the areas of emergency and hospitalist medicine, anesthesiology, radiology/teleradiology and neonatology. Envision’s medical group offers a differentiated suite of clinical solutions on a national scale with a local understanding of our communities, creating value for health systems, payers, providers and patients. For additional information, visit www.envisionhealth.com.