KKR Closing In On $2 Billion Ambulance Deal

With a bid of roughly $2 billion, KKR has emerged victorious in the auction for the ambulance business of Envision Healthcare (NYSE: EVHC), according to Reuters. The firm is now in advanced discussions with the outpatient surgery operator about finalizing a deal, with plans to merge the unit with Air Medical, a provider of medical helicopter transportation services KKR bought for about $2 billion in 2015.

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KKR has been actively trying to boost its medical transportation portfolio. In April, the firm lost out in its bid to buy helicopter transportation company Air Methods, which instead sold to American Securities in a $2.5 billion deal. Since the start of 2010, KKR has completed 62 deals in the healthcare sector, per the PitchBook Platform, second most of any PE firm.

Hedge Funds: Small Firms Profit As Big Names Close In 2020

At the beginning of July, Lansdowne Partners, one of Europe's oldest and best-known hedge fund managers, announced that it was closing its flagship hedge fund after a run of poor performance. The closure is the latest in a string of high-profile hedge funds that have decided to shut up shop in recent years. Billionaire investor Read More


Article by PitchBook