In May, ASC operator and physician services company Envision Healthcare filed for Chapter 11 bankruptcy. As a result of the filing, Envision's ASCs are set to swap owners.
Here are three things to know:
1. AmSurg, an ASC-focused subsidiary of Envision, will be separated from Envision and have its own leadership teams and owner groups. The separation is expected to happen in the coming weeks.
2. Envision's president and CEO, Jim Rechtin, announced that he will leave the company and take over leadership of nationwide payer Humana.
3. All of Envison's ASCs will be part of AmSurg and will no longer have any affiliation with Envision. Pacific Investment Management Co., a creditor, will be AmSurg's new majority owner. The deal is expected to be approved by the court overseeing the bankruptcy proceedings during the fourth quarter of 2023.