Envision Healthcare Corporation Exchange Offer of Approximately $199 Million of Notes for Approximately $106 Million of New Loans

Davis Polk advised the dealer manager in connection with the private offer by Envision Healthcare Corporation to exchange approximately $106 million of its new first-lien senior secured term loans maturing 2025 for approximately $199 million aggregate principal amount of its outstanding 8.750% senior notes due 2026.

Envision is a leading provider of physician-led services and post-acute care, and ambulatory surgery services. Envision delivers physician services to more than 1,800 clinical departments in healthcare facilities and owns and operates surgery centers and one surgical hospital across the United States, with medical specialties ranging from gastroenterology to ophthalmology and orthopedics.

The Davis Polk capital markets team included partner Michael Kaplan and associates John H. Runne and Ryan Lewis. The finance team included partner Jeong M. Lee, counsel David Hahn and associate Stephanie S. Hong. The tax team included partner Mario J. Verdolini and associate Tomislava Dragicevic. All members of the Davis Polk team are based in the New York office.