KKR to buy $2.4B ambulance company, add ambulatory surgery center
August 09, 2017
Air Medical Group, a provider of ambulance services KKR bought for some $2 billion in 2015, has agreed to acquire fellow ambulance company American Medical Response from Envision Healthcare in a deal valued at $2.4 billion. The combined company will transport more than 5 million patients per year in the US. Envision executive Randel Owen will become president and CEO of the company, which will operate under a yet-to-be-announced name.
PE investments in the US outpatient services sector have increased each of the past three years, peaking with 231 deals in 2016, per the PitchBook Platform. The uptick hasn't continued this year, but dealmaking remains strong, with 133 PE-backed transactions already completed.