GREENWOOD VILLAGE, CO (October 28, 2015) – (BUSINESS WIRE) Envision Healthcare Holdings, Inc. (Envision) (NYSE: EVHC) announced that it has completed the previously announced acquisition of Rural/Metro Corporation (Rural/Metro) through Envision’s medical transportation segment, American Medical Response (AMR). Rural/Metro's operations generate annual revenue of approximately $590 million, and Envision expects to realize efficiencies of $25 to $28 million through 2017 from the integration.
"The addition of Rural/Metro allows us to more rapidly expand Envision’s mobile integrated healthcare delivery offering," said William A. Sanger, chairman, president and chief executive officer of Envision. "We are focused on working with our healthcare partners to build a more sustainable model that is centered on patient needs, with paramedics and EMTs playing an important role."
AMR consistently delivers innovative, high-performance healthcare services and superior patient care and the addition of Rural/Metro will enhance those abilities.
"As a former Rural/Metro employee, this feels like a bit of a homecoming for me," said Edward Van Horne, AMR president and chief executive officer. "I am excited to start working with our new team members to bring enhanced offerings to our community partners as we build synergies and expand capabilities – particularly in mobile integrated healthcare. The population health-centric models at Envision will also allow our team members additional opportunities to grow across AMR as well as at Evolution Health and EmCare."
The acquisition was funded through committed financing led by Barclays and Goldman, Sachs & Co.
About Envision Healthcare Holdings, Inc.
Envision Healthcare Holdings, Inc., offers an array of physician-led healthcare-related services to consumers, hospitals, healthcare systems, health plans and local, state and national government entities. The organization provides care across a broad patient continuum via American Medical Response, Inc. (AMR), EmCare Holdings, Inc. (EmCare) and Evolution Health, LLC (Evolution Health). AMR provides community-based medical transportation services, including emergency (‘911’), non-emergency, managed transportation, air ambulance and disaster response. EmCare’s integrated facility-based physician services include emergency, anesthesiology, hospitalist/inpatient care, radiology, tele-radiology and surgery. Evolution Health’s innovative and comprehensive care coordination solutions result in improved patient care delivery across a number of healthcare settings. Envision Healthcare is headquartered in Greenwood Village, Colorado. For additional information, visit www.evhc.net.
Certain statements herein may be deemed to be "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995 including, but not limited to, statements relating to our performance, objectives, plans and strategies, and all statements that address events that we anticipate will occur in the future. Any forward-looking statements herein are made as of the date hereof, and Envision undertakes no duty to update any such statements. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Important factors that could cause actual results to differ materially from forward-looking statements are described in Envision’s filings with the U.S. Securities and Exchange Commission from time to time. Among the factors that could cause future results to differ materially are: decreases in our revenue and profit margin under our fee-for-service contracts; the loss of existing contracts; failure to accurately assess costs under new contracts; difficulties in our ability to recruit and retain qualified physicians and other healthcare professionals; failure to implement some or all of our business strategies; lawsuits for which we are not fully reserved; the adequacy of our insurance coverage and insurance reserves; risks related to our integration of the Rural/Metro acquisition; the high level of competition in the markets we serve; the cost of capital expenditures; the loss of members of senior management; our ability to maintain or implement complex information systems; disruptions in disaster recovery systems, management continuity planning, or information systems; our ability to adequately protect our intellectual property rights; challenges by tax authorities on our treatment of certain physicians as independent contractors; the impact of labor union representation; fluctuations in results due to our national contract with FEMA; potential penalties or changes to our operations, including our ability to collect accounts receivable; the impact of changes in the healthcare industry; our ability to timely enroll our providers in the Medicare program; our ability to comply with future changes in government regulation; the outcome of government investigations; our ability to comply with the terms of our settlement agreements with the government; and our ability to generate cash flow to service our debt; and the factors discussed in "Risk Factors" in the Company’s Annual Report on Form 10-K and subsequent quarterly reports on Form 10-Q.
Envision Healthcare Holdings, Inc.
Bob Kneeley, 303-495-1245
VP, Investor Relations
Ron Cunningham, 303-495-1213
National Communications Director