Envision Healthcare, Backed by KKR, Files for Bankruptcy
Envision Healthcare, backed by KKR & Co, has filed for Chapter 11 bankruptcy protection. The company has estimated assets and liabilities in the range of $1 billion to $10 billion each. Envision's AMSURG unit will buy surgery centers held by the company for $300 million plus a waiver of intercompany loans held by AMSURG. All of the company's debt, with the exception of a revolving credit facility, will be cancelled, deleveraging about $5.6 billion.