Bravo,
Envision was publicly traded. The issue with that is that everyone sees your finances etc. So they had access to public markets which also means the "value" of your business flcutuates with the markets. If you look at the Envision P/E ratio (price to earnings) they were very cheap. Their issue was a couple of billion in debt, an ugly public fight with United and overall physician dissatisfaction with a corrupt money hungry management and hospitals getting sick and tired of their BS.
As such KKR (the private equity company) decided that they could refinance the debt for cheap (savings) find other ways of making money usually via typical practices of going non par etc. KKR obviously thinks they can solve this UHC thing or they at least decided that they are still getting value if they sign a "market" contract.
Not all these private equity companies do great.
FWIW
USACS is owned by Carson Welsh - a private equity company
Team Health - By BlackRock - a private equity company
and when this deal closes Envision - By KKR a private equity company
These harvard MBAs are owning the docs practices and profiting off of your work.
They are "rent seekers" which is incredibly accurate.
Short-seller Jim Chanos bets against two health-care companies: They 'might be worth nothing'
"Chanos, known for his big bet against Enron before it collapsed in 2001, said Thursday his firm has been concerned about the "rent seekers" in the U.S. health-care system who he alleges are ripping off the system. Envision Healthcare and Mednax business models involve "deception or aggressive use of reimbursement," Chanos claimed."