EmCare ac­quires Fla.-based doc firm for $170 mil­lion

Modern Healthcare - - REGIONAL NEWS - —Bob Her­man

Physi­cian out­sourc­ing firm EmCare has pur­chased Fort Laud­erdale, Fla.based Phoenix Physi­cians in a $170 mil­lion cash trans­ac­tion.

EmCare, a sub­sidiary of pub­licly traded En­vi­sion Health­care, also will as­sume cer­tain li­a­bil­i­ties, ac­cord­ing to fil­ings with the Se­cu­ri­ties and Ex­change Com­mis­sion. The deal is ex­pected to close by the end of June.

Phoenix Physi­cians spe­cial­izes in out­sourc­ing emer­gency depart­ment and other physi­cian spe­cialty ser­vices. The firm in­cludes more than 500 physi­cians and clin­i­cians, and serves 21 acute-care hos­pi­tals in six states.

The deal is ex­pected to boost En­vi­sion Health­care’s rev­enue by $125 mil­lion an­nu­ally, a mod­est ad­di­tion to over­all com­pany rev­enue. In fis­cal 2013, En­vi­sion posted net in­come of $6 mil­lion on rev­enue of more than $3.7 bil­lion. EmCare rep­re­sented al­most $2.4 bil­lion of to­tal rev­enue.

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