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9 private equity firms vied for Envision before KKR deal: 3 things to know

Nashville, Tenn.-based physician services provider Envision Healthcare fielded offers from nine private equity firms before inking a $9.9 billion deal with New York City-based KKR & Co., according to a Securities and Exchange Commission filing.

Here are three things to know about the offers:

1. KKR beat the eight other bidders with its $46 per share offer. Envision and KKR entered into a definitive agreement June 11 for their all-cash transaction, which includes the assumption of debt.

2. The highest offer came from an undisclosed "bidder nine," who indicated a price range of $53 to $60 per share. In addition, four industry participants and one financial sponsor submitted preliminary offers to acquire Envision's ASC business, valuing the company between $2.5 billion and $3.5 billion.

3. Private equity firms are playing a bigger role in healthcare deal-making. So far this year, roughly nine private equity firms have made a bid for or acquired a healthcare company's business.

More articles on transactions and valuations:
9 private equity firms gobbling up healthcare businesses
Beth Israel, Lahey merger faces pushback from attorney general
6-hospital California system explores sale to ease financial pressure

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