Five hundred clinical providers constitutes a big physician practice, and Envision Healthcare Holdings, Inc. (NYSE: EVHC) just paid approximately $120 million for one. The target is Emergency Physicians Medical Group of Ann Arbor, Michigan, whose providers staff 37 facilities in Michigan, Illinois, Indiana, Ohio, Iowa and Delaware.
The group is expected to bring in approximately $140 million in annual revenue, which works out to a modest 0.9x revenue and a moderately pricey $240,000 per provider.
EPMG clinicians manage nearly 1 million patient encounters annually in emergency and hospital medicine departments as well as urgent care centers across the Midwest. It also operates community paramedicine programs and provides telemedicine services in urgent care and post-acute care centers. The transaction is expected to close within 30 days, pending satisfaction of certain conditions.
