Envision Healthcare to draw on revolver to help fund acquisitions

By Marisa Wong

Madison, Wis., Jan. 14 – Envision Healthcare Holdings, Inc. plans to borrow under its senior secured asset-based revolving credit facility to help fund two acquisitions, according to an 8-K filing with the Securities and Exchange Commission.

Wholly owned subsidiary EmCare, Inc. entered into two separate agreements on Jan. 13 to acquire Emergency Medical Associates of Parsippany, N.J., and Scottsdale Emergency Associates, Ltd. of Phoenix.

The total purchase price is $380 million in cash. Envision expects $200 million of the purchase price to be funded with cash on hand and the remainder to be funded with the revolver borrowings.

Envision is a Greenwood Village, Colo.-based healthcare services provider.

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