KKR’s Envision Healthcare in lender talks after missing earnings deadline – WSJ
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- Envision Healthcare, run by private equity firm KKR & Co (NYSE:KKR), is in negotiations with creditors after the physician staffing firm fell short of a March deadline to report its earnings, triggering a technical default, The Wall Street Journal reported Wednesday.
- Envision has failed to disclose its fourth-quarter financials by Mar. 31, leading to a technical default in its debt that the firm has only ten days to resolve, The Journal said, citing people familiar with the matter.
- The company is said to have signed nondisclosure agreements with a group of first-lien lenders represented by law firm Gibson Dunn & Crutcher LLP, according to the people. Gibson Dunn & Crutcher was unavailable for comments.
- The Nashville, Tenn.-based Envision is among KKR’s (KKR) biggest healthcare ventures. Last month, Reuters reported that the New York-based investment firm was eyeing Baxter International’s (BAX) biopharma solutions business.
- Read: In January, SA author Hunting Alpha issued a Buy on KKR following an analysis of 10 listed firms in the alternative asset management industry.