Deals
Envision Healthcare to Consider Bankruptcy Filing
- Medical staffing firm hires restructuring lawyers, bankers
- Company squeezed after pandemic halts elective procedures
This article is for subscribers only.
Envision Healthcare Corp. has hired restructuring advisers and is contemplating a bankruptcy filing after the Covid-19 pandemic halted elective surgeries and left the company struggling to manage the $7 billion of debt from its 2018 leveraged buyout, according to people with knowledge of the matter.
The KKR & Co.-backed company, one of the largest physician staffing firms in the U.S., has already been holding back pay for doctors, and it has struggled to convince its bondholders to take a haircut in exchange for a new loan that would pare its debt load.