© Reuters. FILE PHOTO: Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, US, August 23, 2018. REUTERS/Brendan McDiarmid
(Reuters) – Envision Healthcare, backed by KKR & Co. and its wholly owned subsidiaries, filed for Chapter 11 bankruptcy protection on Monday.
The company, which provides doctors in the United States, values its assets and liabilities in the range of $1 billion to $10 billion each, the company said in a court filing.
The company said it has entered into a debt obligation restructuring support agreement of approximately $7.7 billion, under which it will own its AMSURG unit that separately operates ambulatory surgery centers and Envision Physician Services.
It said in a statement that Envision’s AMSURG unit will purchase the surgery centers held by the company for $300 million plus forfeit intercompany loans held by AMSURG.
She added that all of the company’s debts will be cancelled, with the exception of revolving credit facilities, which would lead to the cancellation of approximately $5.6 billion.