Envision Healthcare is planning to file for Chapter 11 bankruptcy protection, The Wall Street Journal reports, citing people familiar with the matter, capping one of the biggest losses ever for the physician-staffing company’s backers at private-equity firm KKR.
The bankruptcy filing, which could be made as soon as this weekend, will wipe out the investment of KKR, which took Envision private in a $5.5 billion buyout in 2018. Including debt, the deal was worth about $10 billion, making it one of KKR’s largest investments in the healthcare industry. Read more.
