KKR & Co., through its portfolio company, is the second private equity firm to pay more than $2 billion for a medical transportation company in 2017.

The medical transportation market, falling under the “Other Services” category, has seen a couple of large deals in 2017, as some big name companies decide to change hands.

On August 8, 2017, Envision Healthcare Corporation (NYSE: EVHC) announced it was selling its medical transportation subsidiary, American Medical Response (AMR), to Air Medical Group Holdings, Inc. (AMGH), a portfolio company of KKR & Co. (NYSE: KKR). The deal comes more than two years after KKR bought it from Bain Capital and Brockway Moran for an undisclosed price.

AMR provides ground and air-based ambulance services in 40 states and the District of Columbia. It staffs more than 27,000 AMR paramedics, EMTs, RNs and other professionals to transport more than 4.4 million patients nationwide each year in critical, emergency and non-emergency situations. The deal valued AMR at $2.4 billion.

In a recent SEC filing, management and the Board determined that Envision will focus on physician-centric services, including facility-based physician services, post-acute services and ambulatory services. Accordingly, the medical transportation business was listed as a discontinued operation.

The combination of AMGH and AMR will create an integrated medical transportation company with the capability to serve patients across multiple transport modalities in the patient’s time of need. The combined company is expected to transport more than five million patients per year through a fleet of air and ground ambulances across 46 states and the District of Columbia.

Just this May, Air Methods Corporation (NASDAQ: AIRM), a global air medical transportation company, was taken private by American Securities for $2.5 billion, including debt. The total deal value included $906.7 million of debt, and multiples worked out to 2.1x revenue and 8.6x EBITDA.