KKR & Co to acquire Tennessee's Envision in $9.9B deal

Private equity firm KKR & Co. announced its plan to buy Envision Healthcare for $5.57 billion and debt. The all-cash transaction will value Envision at $9.9 billion, according to Bloomberg.

Envision, based in Nashville, Tennessee, was a possible acquisition target for many major players in the market, after an activist investor said it was reviewing strategic alternatives.

“Envision is a leading provider of physician-led services in a health-care system in which physician-patient interactions have a pronounced impact on nearly all health-care decisions,” Jim Momtazee, KKR’s head of health-care investing, said in the statement. “We are excited to partner with the outstanding team.”

Envision’s shares were up 2.4 percent at 12:46 p.m. (EST).