Shares of Envision Healthcare Holdings Inc. (NYSE: EVHC) more than tripled in Friday’s session after the company announced the completion of its merger with Amsurg. These health care companies are looking to form one of the nation’s largest provider organizations in an effort to help shape the future of health care delivery.
The newly combined company is a leading provider of physician-led services, ambulatory surgery center management, post-acute care and medical transportation. Physician-led services encompass providers at 780 hospitals in 45 states and include leadership positions in emergency department and hospitalist services, anesthesiology, radiology and women’s and children’s services, as well as offerings in general surgery and office-based medicine.
As a market leader in ambulatory surgical care, the company owns and operates 260 surgery centers and one surgical hospital in 35 states and the District of Columbia, with medical specialties ranging from gastroenterology to ophthalmology and orthopedics. Post-acute care is delivered through an array of clinical professionals and integrated technologies designed to contribute to efficient and effective population health management strategies.
William A. Sanger, executive chairman of Envision commented:
Our two organizations complement each other in a way few others could, and this merger accelerates our collective ability to positively impact healthcare delivery across the country. We are excited for the future and look forward to integrating the resources of Envision and AMSURG.
Christopher A. Holden, president and CEO added:
Envision Healthcare Corporation now has a national platform with a highly differentiated suite of solutions that will significantly increase our ability to empower physicians and serve clients. The marketplace remains highly fragmented, providing ample opportunities for us to expand our existing relationships with health systems and to present our performance-enhancing offerings to other key stakeholders in clinical networks across the country.
Shares of Envision hit a new 52-week high of $71.05 Friday morning, with a consensus analyst price target of $29.50 and a 52-week low of $18.31.