KKR-Backed Envision Healthcare Files for Chapter 11 to Put Lenders in Control

Envision Healthcare has filed for chapter 11, beginning one of the largest healthcare-related bankruptcy cases ever and likely wiping out the $3.5 billion stake that private-equity firm KKR acquired in the physician-staffing company in 2018.

KKR’s loss on Envision would be among the steepest write-downs the private-equity firm has swallowed in recent years and highlights some of the continuing instability in the healthcare industry. KKR has already written off its investment in Envision, The Wall Street Journal reported previously.

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This article was written by and originally published on www.wsj.com