Envision Healthcare Corporation (EVHC)

NEW YORK, NY / ACCESSWIRE / April 4, 2024 / Levi & Korsinsky informs shareholders that a settlement has been reached in the pending class action lawsuit against Envision Healthcare Corporation (NYSE:EVHC). The settlement provides for a fund of $177,500,000 to benefit class members.

NEW YORK, NY / ACCESSWIRE / April 2, 2024 / Levi & Korsinsky informs shareholders that a settlement has been reached in the pending class action lawsuit against Envision Healthcare Corporation (NYSE: EVHC). The settlement provides for a fund of $177,500,000 to benefit class members.

NEW YORK, NY / ACCESSWIRE / March 28, 2024 / Levi & Korsinsky informs shareholders that a settlement has been reached in the pending class action lawsuit against Envision Healthcare Corporation (NYSE: EVHC). The settlement provides for a fund of $177,500,000 to benefit class members.

NEW YORK, NY / ACCESSWIRE / March 26, 2024 / Levi & Korsinsky informs shareholders that a settlement has been reached in the pending class action lawsuit against Envision Healthcare Corporation (NYSE:EVHC). The settlement provides for a fund of $177,500,000 to benefit class members.

NEW YORK, NY / ACCESSWIRE / March 21, 2024 / Levi & Korsinsky informs shareholders that a settlement has been reached in the pending class action lawsuit against Envision Healthcare Corporation (NYSE: EVHC). The settlement provides for a fund of $177,500,000 to benefit class members.

NEW YORK, NY / ACCESSWIRE / March 19, 2024 / Levi & Korsinsky informs shareholders that a settlement has been reached in the pending class action lawsuit against Envision Healthcare Corporation (NYSE:EVHC). The settlement provides for a fund of $177,500,000 to benefit class members.

NEW YORK, NY / ACCESSWIRE / March 14, 2024 / Levi & Korsinsky informs shareholders that a settlement has been reached in the pending class action lawsuit against Envision Healthcare Corporation (NYSE: EVHC). The settlement provides for a fund of $177,500,000 to benefit class members.

NEW YORK, NY / ACCESSWIRE / March 12, 2024 / Levi & Korsinsky informs shareholders that a settlement has been reached in the pending class action lawsuit against Envision Healthcare Corporation (NYSE:EVHC). The settlement provides for a fund of $177,500,000 to benefit class members.

NEW YORK, NY / ACCESSWIRE / March 7, 2024 / Levi & Korsinsky informs shareholders that a settlement has been reached in the pending class action lawsuit against Envision Healthcare Corporation (NYSE:EVHC). The settlement provides for a fund of $177,500,000 to benefit class members.

NEW YORK, NY / ACCESSWIRE / March 5, 2024 / Levi & Korsinsky informs shareholders that a settlement has been reached in the pending class action lawsuit against Envision Healthcare Corporation (NYSE:EVHC). The settlement provides for a fund of $177,500,000 to benefit class members.

NEW YORK, NY / ACCESSWIRE / February 29, 2024 / Levi & Korsinsky informs shareholders that a settlement has been reached in the pending class action lawsuit against Envision Healthcare Corporation (NYSE:EVHC). The settlement provides for a fund of $177,500,000 to benefit class members.

NASHVILLE--(BUSINESS WIRE)---- $EVHC #billing--Consumer law firm Hagens Berman is investigating a medical billing scam at Envision Healthcare Corporation and its affiliate, MyMedicalPayments.com.

NASHVILLE, Tenn.--(BUSINESS WIRE)--Envision Healthcare Corporation (“Envision”) (NYSE: EVHC) today reported solid financial results for the three months ended March 31, 2018, driven by Physician Services’ revenue growth and initial contributions from the Company’s 2018 operational improvement initiatives. Highlights for the first quarter of 2018 include: Net revenue from continuing operations of $2.08 billion; Net earnings from continuing operations attributable to common stockholders of $36.9 million or $0.30 per diluted share; Adjusted net earnings from continuing operations of $86.6 million, or $0.71 per diluted share; and Adjusted EBITDA from continuing operations of $207.6 million. Envision reported a net loss of $86.4 million, or $0.71 per dilutive share, as a result of a net loss from discontinued operations and income-tax expense resulting from the sale of its Medical Transportation segment, American Medical Response, Inc., (“AMR”), which was completed on March 14, 2018. A reconciliation of all non-GAAP financial results to the comparable GAAP measure is provided on page 6 of this press release. “Our results for the first quarter of 2018 build on the momentum we established at the end of 2017, with our focus on operational improvements beginning to bear fruit towards our goal of realizing $50 million in operational efficiencies in 2018 and anticipated run-rate savings of $100 million,” said Christopher A. Holden, President and Chief Executive Officer of Envision. “We made significant strides to align our practice support and corporate overhead to support our clinical programs and these efforts contributed to our solid financial results in the quarter. We expect the impact of these efforts to accelerate through the remainder of 2018. We are also making good progress in improving our revenue cycle functions to achieve operational efficiencies, which we expect to realize during the second half of this year. We are also advancing a number of initiatives to improve the efficiency of our clinical teams as they care for patients. “Our operational focus will be key to our ability to optimize shareholder value as our clinical providers and operations professionals are continuously working to improve patient safety, quality and efficiency to deliver value to health systems and the patients we serve. We continue to successfully execute on a clearly defined strategy that supports our clinical providers as they participate in high-performing healthcare networks in communities across the country. Our Physician Services’ growth validates this strategy.” Reporting Segments Envision reports two operating segments as continuing operations: Physician Services, which includes facility-based and post-acute services, and Ambulatory Services. Physician Services Net revenues for Physician Services were $1.77 billion for the first quarter of 2018, an increase of 13.2% from the prior-year period. Revenue growth was driven by contributions of 8.2% from acquisitions, 2.3% from net new contracts and 2.7% from same contracts. Physician Services’ net revenue growth from new contracts consisted of 8.0% growth from contract additions, partially offset by contract terminations of 5.7%. On a same-contract base, net revenues grew by 3.1% in the first quarter of 2018 when compared to the prior-year period. Same-contract patient encounters grew by 2.3%, while revenue per patient encounter increased by 0.8%. For the first quarter of 2018, Physician Services Adjusted EBITDA was $150.1 million and was essentially unchanged from the prior-year period. Physician Services results were impacted by increasing seasonal payroll tax expense, incentive compensation accruals that were not in the prior-year period, as well as higher-than-anticipated malpractice expense related to settlement of claims from prior years. Physician Services' margin improved by 50 basis points on a sequential basis. Ambulatory Services Net revenues for the first quarter of 2018 were $307.6 million, which compares to $315.9 million for the prior-year period. Ambulatory Services results were affected by weather- and flu-related procedure cancellations during the 2018 period. Same-center revenue declined by 0.7%, which included a 1.3% volume decline, offset by 0.6% rate growth. Surgery centers deconsolidated and disposed in the 12 months ended March 31, 2018, contributed incremental revenues of $9.7 million for the first quarter of 2017. Adjusted EBITDA for the first quarter of 2018 was $57.5 million, which compares with $60.2 million for the prior-year period. Adjusted EBITDA margin was 18.7%, which compared to 19.1% in the prior-year period. Liquidity Envision had cash and cash equivalents of $767.4 million at March 31, 2018, and the Company had no amounts outstanding under its asset-based lending facility at the end of the first quarter of 2018. During the period, Envision used a substantial portion of the net proceeds it received from the sale of AMR to reduce debt outstanding on its Term Loan B by $1.7 billion. At March 31, 2018, Envision had total debt outstanding of $4.7 billion. The Company’s ratio of total net debt at March 31, 2018, to trailing 12 months EBITDA as defined under the Company’s credit agreement, was 4.2 times. Net cash flows from operations, less distributions to noncontrolling interests and excluding transaction costs, were $20.4 million for the three months ended March 31, 2018. Envision’s cash flow from operations was impacted by accelerating approximately $45 million of incentive compensation payments into the first quarter, from the second quarter, to benefit from higher tax deductibility associated with those expenses as a result of the Tax Cuts and Jobs Act. Guidance Envision is modifying its outlook for 2018 and introducing its outlook for the second quarter of 2018. For all of 2018, Envision expects to generate revenue of $8.35 billion to $8.53 billion, Adjusted EBITDA of $965 million to $1 billion, and Adjusted EPS of $3.49 to $3.70. For the second quarter of 2018, Envision expects to generate Adjusted EBITDA of $234 million to $246 million, and Adjusted EPS of $0.83 to $0.90. Non-GAAP Adjusted EBITDA guidance for the full year and second quarter of 2018 excludes interest expense, income taxes, depreciation, amortization, share-based compensation, impairment charges, debt extinguishment costs, acquisition-related transaction and integration costs, changes in contingent purchase price consideration, purchase accounting adjustments related to mergers and acquisitions, gain or loss on deconsolidations and discontinued operations. Non-GAAP Adjusted EPS guidance for the full year and second quarter of 2018 excludes acquisition-related transaction and integration costs, acquisition-related amortization expense, gains and losses on future deconsolidation transactions, share-based compensation, impairment charges, the impact of the Tax Cuts and Jobs Act, and debt extinguishment costs, net of tax impact. Envision is not providing a reconciliation of its Adjusted EBITDA and Adjusted EPS guidance because the exact amount of such exclusions is not currently determinable, including variability and timing associated with acquisitions, disposals, deconsolidations and impairment charges. These amounts may be significant and may vary significantly from period to period (see page 6 for a reconciliation of all historical GAAP and non-GAAP financial results presented in this release). Ongoing Strategic Review Envision’s Board of Directors (the “Board”) continues to conduct a full review of strategic alternatives to enhance shareholder value, and is considering a number of options including execution of the Company’s strategic plan, portfolio rationalization, and a potential sale of the Company. “We remain fully engaged in a comprehensive review of our options,” said Denny Shelton, Lead Independent Director of Envision’s Board. “While we have not set a definitive timetable for the completion of this review, the Board is moving toward identification of the optimal outcome for our shareholders during the current quarter.” There can be no assurance that this review will result in a transaction or other alternative of any kind. Conference Call Information Envision will host a conference call at 8:30 a.m. Eastern Time Tuesday, May 8, 2018, to discuss its financial results. The live broadcast of Envision’s quarterly conference call will be available on-line by going to www.evhc.net and clicking on the link to Investors. The on-line replay will follow shortly after the call and continue for 30 days. About Envision Healthcare Corporation Envision Healthcare Corporation is a leading provider of physician-led services and post-acute care, and ambulatory surgery services. At March 31, 2018, we delivered physician services, primarily in the areas of emergency department and hospitalist services, anesthesiology services, radiology/tele-radiology services, and children’s services to more than 1,800 clinical departments in healthcare facilities in 45 states and the District of Columbia. Post-acute care is delivered through an array of clinical professionals and integrated technologies which, when combined, contribute to efficient and effective population health management strategies. As a market leader in ambulatory surgical care, the Company owns and operates 261 surgery centers and one surgical hospital in 35 states and the District of Columbia, with medical specialties ranging from gastroenterology to ophthalmology and orthopedics. In total, the Company offers a differentiated suite of clinical solutions on a national scale, creating value for health systems, payors, providers and patients. For additional information, visit www.evhc.net. Forward-Looking Statements Certain statements and information in this communication may be deemed to be “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, but are not limited to, statements relating to the Company’s financial and operating objectives, plans and strategies, industry trends, and all statements (other than statements of historical fact) that address activities, events or developments that the Company intends, expects, projects, believes or anticipates will or may occur in the future. These statements are often characterized by terminology such as “believe,” “hope,” “may,” “anticipate,” “should,” “intend,” “plan,” “will,” “expect,” “estimate,” “project,” “positioned,” “strategy” and similar expressions, and are based on assumptions and assessments made by the Company’s management in light of their experience and their perception of historical trends, current conditions, expected future developments, and other factors they believe to be appropriate. Any forward-looking statements in this communication are made as of the date hereof, and the Company undertakes no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance. Whether actual results will conform to expectations and predictions is subject to known and unknown risks and uncertainties, including: (i) risks and uncertainties discussed in the reports and other documents that the Company files with the Securities and Exchange Commission; (ii) general economic, market, or business conditions; (iii) the impact of legislative or regulatory changes, such as changes to the Patient Protection and Affordable Care Act, as amended by the Health Care and Education Reconciliation Act of 2010; (iv) changes in governmental reimbursement programs; (v) decreases in revenue and profit margin under fee-for-service contracts due to changes in volume, payor mix and reimbursement rates; (vi) the loss of existing contracts; (vii) risks associated with the ability to successfully integrate the Company’s operations and employees following the completion of the December 2016 merger of equals; (viii) the ability to realize anticipated benefits and synergies of the business combination; (ix) the potential impact of the consummation of the transaction on the Company’s relationships, including with employees, customers and competitors; (x) the impact of the Company’s previously announced review of strategic alternatives, as well as any strategic transaction that may be pursued as a result of such review, including on the Company’s financial and operating results, or its employees, suppliers and customers; and (xi) other circumstances beyond the Company’s control. Unaudited Selected Consolidated Financial and Operating Data (In millions, except earnings per share) Statement of Operations Data: Unaudited Selected Consolidated Financial and Operating Data, continued (In millions, except earnings per share) EBITDA Total net revenue See definitions of non-GAAP measures on page 10 Unaudited Selected Consolidated Financial and Operating Data, continued Operating Data - Physician Services: Operating Data - Ambulatory Services: Unaudited Selected Consolidated Financial and Operating Data, continued (Dollars in millions, shares in thousands) Balance Sheet Data: Total current assets Total current liabilities Unaudited Selected Consolidated Financial and Operating Data, continued (In millions) Statement of Cash Flow Data: Envision Healthcare Corporation Footnotes to Reconciliations of Non-GAAP Measures to GAAP Measures

NASHVILLE, Tenn. & GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--Envision Healthcare Corporation (NYSE: EVHC) today provided preliminary fourth quarter results, announced the date for the release of its financial results for the fourth quarter and full year 2017 and extended the director nomination deadline. Preliminary Fourth Quarter Results For the three months ended December 31, 2017, Envision expects to report net revenue from continuing operations of approximately $2.0 billion and Adjusted EBITDA from continuing operations that will be at, or slightly above, the high end of its guidance range of $182 million to $202 million. That guidance range was provided on October 31, 2017, and most recently affirmed January 4, 2018. “We are pleased with our team’s ability to operate and deliver results at the high end of our expectations,” said Christopher A. Holden, President and Chief Executive Officer of Envision. “We remain focused on executing our strategic plan and taking actions to drive sustained operational excellence across our organization. We look forward to providing a more comprehensive update on our progress and outlook for 2018 when we report complete financial results later this month.” Envision’s estimates for the fourth quarter of 2017 are based on management’s unaudited preliminary financial analysis and are subject to finalizing Envision’s year-end accounting and audit procedures. The Company is not providing a reconciliation of its previously issued Adjusted EBITDA guidance range to the comparable GAAP measure for the three months ended December 31, 2017, as the exact amount of individual adjustments for certain reconciling items are not currently determinable, including variability and timing associated with acquisitions, disposals, deconsolidations and impairment charges. These amounts may be significant and may vary significantly from period to period. See “Non-GAAP Financial Measures” below for a definition of Adjusted EBITDA. Earnings Release and Investor Conference Call Dates Envision will release its financial results for the three months and 12 months ended December 31, 2017, and expects to provide 2018 financial guidance, on Tuesday, February 27, 2018, after the securities markets close. The Company will also host an investor conference call on Wednesday, February 28, 2018, at 8:30 a.m. Eastern time. The live broadcast of Envision’s quarterly conference call will be available on-line by going to www.evhc.net and clicking on the link to Investors. The on-line replay will follow shortly after the call and will be available for 30 days. Extension of Director Nomination Deadline Envision also announced that its Board of Directors has amended its bylaws to extend the deadline for stockholders to nominate candidates for election to the Board at its 2018 Annual Meeting of Stockholders to March 16, 2018. The original nomination deadline was February 24, 2018. The date and location of the 2018 Annual Meeting of Stockholders has yet to be announced. On October 31, 2017, Envision announced that its Board, in consultation with management and financial and legal advisors, had initiated a full review of a broad range of strategic alternatives to enhance stockholder value. The Board is fully committed to conducting a comprehensive review, and the review is ongoing. There can be no assurance that this review will result in a transaction or other alternative of any kind, and the Board has not set a timetable for completion of its review. The Company does not intend to provide updates on its review until it deems further disclosure is appropriate or required. About Envision Healthcare Corporation Envision Healthcare Corporation is a leading provider of physician-led services and post-acute care, and ambulatory surgery services. At September 2017, we delivered physician services, primarily in the areas of emergency department and hospitalist services, anesthesiology services, radiology/tele-radiology services, and children’s services to more than 1,800 clinical departments in healthcare facilities in 46 states and the District of Columbia. Post-acute care is delivered through an array of clinical professionals and integrated technologies which, when combined, contribute to efficient and effective population health management strategies. As a market leader in ambulatory surgical care, the Company owns and operates 263 surgery centers and one surgical hospital in 35 states and the District of Columbia, with medical specialties ranging from gastroenterology to ophthalmology and orthopedics. In total, the Company offers a differentiated suite of clinical solutions on a national scale, creating value for health systems, payors, providers and patients. For additional information, visit www.evhc.net. Forward-Looking Statements Certain statements and information in this communication may be deemed to be “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, but are not limited to, statements relating to the Company’s financial and operating objectives, plans and strategies, industry trends, and all statements (other than statements of historical fact) that address activities, events or developments that the Company intends, expects, projects, believes or anticipates will or may occur in the future. These statements are often characterized by terminology such as “believe,” “hope,” “may,” “anticipate,” “should,” “intend,” “plan,” “will,” “expect,” “estimate,” “project,” “positioned,” “strategy” and similar expressions, and are based on assumptions and assessments made by the Company’s management in light of their experience and their perception of historical trends, current conditions, expected future developments, and other factors they believe to be appropriate. Any forward-looking statements in this communication are made as of the date hereof, and the Company undertakes no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance. Whether actual results will conform to expectations and predictions is subject to known and unknown risks and uncertainties, including: (i) risks and uncertainties discussed in the reports and other documents that the Company files with the Securities and Exchange Commission; (ii) general economic, market, or business conditions; (iii) the impact of legislative or regulatory changes, such as changes to the Patient Protection and Affordable Care Act, as amended by the Health Care and Education Reconciliation Act of 2010; (iv) changes in governmental reimbursement programs; (v) decreases in revenue and profit margin under fee-for-service contracts due to changes in volume, payor mix and reimbursement rates; (vi) the loss of existing contracts; (vii) risks associated with the ability to successfully integrate the Company’s operations and employees following the completion of its merger with AMSURG; (viii) the ability to realize anticipated benefits and synergies of the business combination; (ix) the potential impact of the consummation of the transaction on the Company’s relationships, including with employees, customers and competitors; (x) the impact of the Company’s announced review of strategic alternatives, as well as any strategic transaction that may be pursued as a result of such review, including the Company’s financial and operating results, or its employees, suppliers and customers; and (xi) other circumstances beyond the Company’s control. Non-GAAP Financial Measures Non-GAAP Adjusted EBITDA guidance for the fourth quarter of 2017 excludes interest expense, income taxes, depreciation, amortization, share-based compensation, impairment charges, debt extinguishment costs, transaction and integration costs, changes in contingent purchase price consideration, gain or loss on deconsolidations and discontinued operations, net of non-controlling interests. See Envision’s investor relations website at investor.evhc.net for a reconciliation of historical GAAP and non-GAAP financial results.

NASHVILLE, Tenn. & GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--Envision Healthcare Corporation (“Envision”) (NYSE: EVHC) today reported financial results for the three and nine months ended September 30, 2017. Envision’s operations were disrupted by Hurricanes Harvey and Irma during the third quarter of 2017, and the Company estimates that its results from continuing operations include a negative impact of $22.0 million of revenue and $22.0 million of Adjusted EBITDA. Highlights for the third quarter of 2017 include: Net revenue from continuing operations of $1.99 billion; Net earnings from continuing operations attributable to common stockholders of $40.7 million or $0.33 per diluted share; Adjusted net earnings from continuing operations of $89.4 million or $0.73 per diluted share; Adjusted EBITDA from continuing operations of $233.5 million; and Net cash flow from operations, less distributions to non-controlling interests and excluding transaction costs, of $152.3 million. A reconciliation of all non-GAAP financial results to the comparable GAAP measure is provided on page 7 of this press release. “During the third quarter of 2017, our organization responded to a number of challenges, ranging from hurricanes that impacted two of our key markets to continued deceleration of health sector utilization following two years of heightened demand driven by coverage expansion,” said Christopher A. Holden, President and Chief Executive Officer of Envision. “We are addressing these challenges. I’m proud of all of our clinical professionals and particularly those who were on the front line of providing care before, during and after the hurricanes, including our AMR emergency medical services. During the quarter, we made excellent progress on the conversion of our out-of-network services to participating, or in-network status, and we are advancing an organizational structure that will allow us to more effectively execute on the physician-centric strategy that we presented earlier this year. “Looking forward we are operating our business based on more recent utilization trends, and our guidance for the fourth quarter of 2017 reduces the assumptions for utilization of our services. Our organization has effectively managed through cycles, and we feel confident that our leading and diverse position as facility-based providers will continue to drive long-term growth and create value for health systems, providers, payors, patients and, ultimately, for our shareholders.” Review of Strategic Alternatives The Company also announced that its Board of Directors, in consultation with management and financial and legal advisors, has unanimously decided to initiate a full review of a broad range of alternatives to enhance shareholder value. The Board plans to proceed in a timely manner, but has not set a timetable for completion of its review. There can be no assurance that this review will result in a transaction or other alternative of any kind. The Company does not intend to provide updates on its review until it deems further disclosure is appropriate or required. “After careful consideration, our Board has determined to undertake a review of strategic, financial and operational alternatives with the goal of enhancing shareholder value,” said William Sanger, Chairman of the Envision Board of Directors. “While we have made considerable progress in building the new Envision around a set of highly-differentiated physician-centric clinical solutions, the Board believes that a review at this time – with all options on the table, including continuing to execute on our strategic plan – is in the best interests of Envision shareholders. As the Board conducts its review of potential value-creating alternatives, we remain focused on aggressively executing our strategic plan to deliver value to Envision shareholders.” Reporting Segments Envision reports two operating segments as continuing operations: Physician Services, which includes facility-based and post-acute services; and Ambulatory Services. On August 7, 2017, Envision entered into a definitive agreement to divest American Medical Response, Envision’s Medical Transportation business, which had been moved to discontinued operations in the first quarter of the year. As required by accounting guidelines, Envision re-allocated certain corporate expenses associated with its shared services model to continuing operations. This re-allocation impacts segment Adjusted EBITDA by $9.3 million for the three months ended September 30, 2017. The re-allocation results in a reduction of Adjusted EBITDA in the third quarter of $7.2 million for Physician Services and $2.1 million for Ambulatory Services, with a corresponding Adjusted EBITDA increase of $9.3 million for discontinued operations. Upon completion of the pending divestiture of the Medical Transportation business, a portion of these shared services are likely to remain with that business. Physician Services In order to enhance the comparability of results following the merger of AMSURG Corp. (“AMSURG”) and Envision Healthcare Holdings, Inc. (“EHH”), which was completed on December 1, 2016, the following discussion presents Envision Physician Services’ results for the prior-year period as if the two separate Physician Services’ segments of AMSURG and EHH, based on historically reported results, had been combined effective January 1, 2016. Net revenues for Physician Services were $1.68 billion for the third quarter of 2017, an increase of 7.6% from $1.56 billion during the prior-year period. This includes an estimated impact of $19.0 million due to storm-related disruption. Revenue growth was driven by contributions from acquisitions of 9.6% and same contracts contributed 0.4%. These were partially offset by net contract terminations. New contracts contributed revenue growth of 6.7%, while revenue declined by 7.0% due to contracts terminated in the latter part of 2016, resulting in a net decline of 0.3% from new contracts. New contracts were also impacted by a 2.1% decline due to the previously announced population health contract termination. Same-contract net revenue growth was 0.6% in the third quarter of 2017 when compared to the prior-year period. Same-contract revenue per patient encounter grew by 1.3% while same-contract patient care volume declined by 0.7% compared to the prior-year period. Envision estimates that the storms had the effect of reducing same-contract revenue growth by approximately 1.1%. For the third quarter of 2017, Physician Services Adjusted EBITDA was $179.0 million, or $186.2 million when excluding the corporate expense re-allocation of $7.2 million. This compares with $206.4 million for the prior-year period. Adjusted EBITDA for Physician Services was impacted by an estimated $20.0 million due to storm-related disruptions. The Adjusted EBITDA impact of the storms is higher than the $19.0 million revenue impact because of premium labor costs paid to providers responding to patient care needs during the storms. Ambulatory Services Net revenues for the third quarter of 2017 were $309.4 million, which compares to $314.6 million for the prior-year period. Envision estimates that storm-related disruption reduced Ambulatory Services revenue by $3.0 million. Day adjusted same-center revenue increased by 0.8% for the third quarter of 2017 due entirely to an increase in net revenue per procedure as same-center procedure volume was unchanged from the prior-year period. Excluding the estimated impact of storm-related disruptions, day-adjusted same-center revenue grew by 2.0%. ASCs deconsolidated in the 12 months ended September 30, 2017, contributed incremental revenues of $4.3 million for the third quarter of 2016. For the third quarter of 2017, Adjusted EBITDA was $54.5 million, or $56.6 million when excluding the corporate expense re-allocation of $2.1 million. This compares with $61.1 million for the prior-year period. Ambulatory Services’ Adjusted EBITDA was reduced by an estimated $2.0 million due to storm-related disruptions. Ambulatory Services operated 263 ASCs and one surgical hospital at September 30, 2017. Ambulatory Services acquired two centers and disposed of two centers during the quarter. Liquidity Envision had cash and cash equivalents of $319.3 million at September 30, 2017, which includes $41.2 million of cash attributable to its Medical Transportation business. Availability under its asset-based lending facility was $664.6 million as of September 30, 2017. Through the first nine months of 2017, Envision has invested $694.4 million in acquisitions. Net cash flows from operations, less distributions to noncontrolling interests and excluding transaction costs, were $152.3 million for the third quarter of 2017. The Company’s ratio of total net debt at September 30, 2017, to trailing 12 months EBITDA as calculated under the Company’s credit agreement was 4.5 times. Interest expense reflects a re-allocation of $21.8 million to discontinued operations for the three months ended September 30, 2017. Discontinued Operations Envision’s Medical Transportation business is reported as a component of discontinued operations following a decision made earlier this year to market and divest American Medical Response. On August 7, 2017, Envision signed a definitive agreement to sell AMR in a cash transaction valued at $2.4 billion. The transaction is subject to regulatory approval and customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act. Envision received a second request from the Federal Trade Commission (“FTC”) asking for further information related to the transaction, and the buyer is exploring potential divestiture remedies to address certain concerns raised by the FTC. Envision expects that the transaction will be completed during the fourth quarter of 2017 or the first quarter of 2018. Net revenues from discontinued operations were $692.2 million for the third quarter of 2017, an increase of 18.6% compared to the prior-year period, due largely to AMR’s contract with the Federal Emergency Management Agency to coordinate emergency medical services response in areas impacted by storms during the quarter. Adjusted EBITDA was $84.6 million, or $75.3 million when excluding the favorable impact of $9.3 million from the re-allocation of corporate expenses. Guidance Envision is revising its guidance for the fourth quarter of 2017 to reflect changes to assumptions made in its previous forecast. Specifically, Envision is estimating emergency medicine patient volume will be lower than the run rate of the third quarter of 2017, and that the revenue per encounter for anesthesia services will be at levels experienced during the third quarter of 2017. Envision had previously anticipated an increase on emergency medicine volume, relative to prior-year comparisons, as well as anesthesia rate growth. In addition, due to the rate of new contracts signed in 2017, Envision expects to incur higher-than-anticipated startup costs. Finally, Envision is adjusting its outlook for Evolution Health to a slight loss for the 2017 fourth quarter. For the fourth quarter of 2017, Envision expects to generate revenue of $1.88 billion to $2.02 billion, Adjusted EBITDA of $182 million to $202 million, and Adjusted EPS of $0.44 to $0.54. Non-GAAP Adjusted EBITDA guidance for the full year and third quarter of 2017 excludes interest expense, income taxes, depreciation, amortization, share-based compensation, impairment charges, debt extinguishment costs, transaction and integration costs, changes in contingent purchase price consideration, gain or loss on deconsolidations and discontinued operations, net of non-controlling interests. Non-GAAP Adjusted EPS guidance for the full year and fourth quarter of 2017 excludes acquisition-related transaction and integration costs, acquisition-related amortization expense, gains and losses on future deconsolidation transactions, share-based compensation, impairment charges and debt extinguishment costs, net of tax impact. Envision is not providing a reconciliation of its Adjusted EBITDA and Adjusted EPS guidance because the exact amount of individual adjustments for these items are not currently determinable, including variability and timing associated with acquisitions, disposals, deconsolidations and impairment charges. These amounts may be significant and may vary significantly from period to period (see page 7 for a reconciliation of all historical GAAP and non-GAAP financial results). Conference Call Information Envision will host a conference call at 8:30 a.m. Eastern Time Wednesday, November 1, 2017, to discuss its financial results. The live broadcast of Envision’s quarterly conference call will be available on-line by going to www.evhc.net and clicking on the link to Investors. The on-line replay will follow shortly after the call and continue for 30 days. About Envision Healthcare Corporation Envision Healthcare Corporation is a leading provider of physician-led services and post-acute care, and ambulatory surgery services. At September 2017, we delivered physician services, primarily in the areas of emergency department and hospitalist services, anesthesiology services, radiology/tele-radiology services, and children’s services to more than 1,800 clinical departments in healthcare facilities in 46 states and the District of Columbia. Post-acute care is delivered through an array of clinical professionals and integrated technologies which, when combined, contribute to efficient and effective population health management strategies. As a market leader in ambulatory surgical care, the Company owns and operates 263 surgery centers and one surgical hospital in 35 states and the District of Columbia, with medical specialties ranging from gastroenterology to ophthalmology and orthopaedics. In total, the Company offers a differentiated suite of clinical solutions on a national scale, creating value for health systems, payors, providers and patients. For additional information, visit www.evhc.net. Forward-Looking Statements Certain statements and information in this communication may be deemed to be “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, but are not limited to, statements relating to the Company’s financial and operating objectives, plans and strategies, and all statements (other than statements of historical facts) that address activities, events or developments that the Company intends, expects, projects, believes or anticipates will or may occur in the future. These statements are often characterized by terminology such as “believe,” “hope,” “may,” “anticipate,” “should,” “intend,” “plan,” “will,” “expect,” “estimate,” “project,” “positioned,” “strategy” and similar expressions, and are based on assumptions and assessments made by the Company’s management in light of their experience and their perception of historical trends, current conditions, expected future developments, and other factors they believe to be appropriate. Any forward-looking statements in this communication are made as of the date hereof, and the Company undertakes no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance. Whether actual results will conform to expectations and predictions is subject to known and unknown risks and uncertainties, including: (i) risks and uncertainties discussed in the reports and other documents that the Company files with the Securities and Exchange Commission; (ii) general economic, market, or business conditions; (iii) the impact of legislative or regulatory changes, such as changes to the Patient Protection and Affordable Care Act, as amended by the Health Care and Education Reconciliation Act of 2010; (iv) changes in governmental reimbursement programs; (v) decreases in revenue and profit margin under fee-for-service contracts due to changes in volume, payor mix and reimbursement rates; (vi) the loss of existing contracts; (vii) risks associated with the ability to successfully integrate the Company’s operations and employees following the merger; (viii) the ability to realize anticipated benefits and synergies of the business combination; (ix) the potential impact of the consummation of the transaction on the Company’s relationships, including with employees, customers and competitors; and (x) other circumstances beyond the Company’s control. Unaudited Selected Consolidated Financial and Operating Data (In millions, except earnings per share) Three Months Ended September 30, Nine Months Ended September 30, Statement of Operations Data: Unaudited Selected Consolidated Financial and Operating Data, continued (In millions, except earnings per share) Three Months Ended September 30, Nine Months Ended September 30, Net loss (gain) on disposals and deconsolidations, net of noncontrolling interests Net loss (gain) on disposals and deconsolidations, net of noncontrolling interests See definitions of non-GAAP measures on page 13 Unaudited Selected Consolidated Financial and Operating Data, continued (In millions) Three Months Ended September 30, September 30, Physician Services Ambulatory Services Medical Transportation (Discontinued Operations) _______________ (1) Excludes amounts from EHH for the three and nine months ended September 30, 2016. (2) Amounts from Medical Transportation represent discontinued operations for the three and nine months ending September 30, 2017. (3) For the three and nine months ended September 30, 2017 and on a before tax basis, approximately $15.3 million and $44.9 million, respectively, of general corporate expenses, including allocations for corporate salaries and stock based compensation, general and administrative costs and depreciation, were removed from the medical transportation business and reallocated to the Company’s remaining segments. This removal of corporate expenses resulted in a reduction of Adjusted EBITDA in the physician services and ambulatory services segments for the three and nine months ended September 30, 2017 of $7.2 million and $2.1 million and $20.6 million and $6.1 million, respectively. See definitions of non-GAAP measures on page 13 Unaudited Selected Consolidated Financial and Operating Data, continued (In millions) Three Months Ended September 30, 2017 Nine Months Ended September 30, 2017 Unaudited Selected Consolidated Financial and Operating Data, continued Operating Data - Physician Services: September 30, September 30, ____________________ (1) Amount excludes the results from EHH physician services for the three and nine months ended September 30, 2016. Operating Data - Ambulatory Services: September 30, September 30, Unaudited Selected Consolidated Financial and Operating Data, continued (Dollars in millions, shares in thousands) Balance Sheet Data: Unaudited Selected Consolidated Financial and Operating Data, continued (In millions) Statement of Cash Flow Data: Adjustments to reconcile net earnings (loss) to net cash flows provided by operating activities: Increases (decreases) in cash and cash equivalents, net of acquisitions and dispositions: Net cash flows used in investing activities Envision Healthcare Corporation Footnotes to Reconciliations of Non-GAAP Measures to GAAP Measures

NASHVILLE, Tenn. & GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--Envision Healthcare Corporation (“Envision”) (NYSE: EVHC) today reported financial results for the three and six months ended June 30, 2017, which were consistent with the financial outlook previously provided by Envision. Second quarter results include strong cash flow from operations. Highlights for the second quarter of 2017 include: Net revenue from continuing operations of $1.95 billion; Net earnings from continuing operations attributable to common stockholders of $50.2 million or $0.42 per diluted share; Adjusted net earnings from continuing operations of $103.7 million or $0.85 per diluted share; Adjusted EBITDA from continuing operations of $253.8 million; and Net cash flow from operations, less distributions to non-controlling interests and excluding transaction costs, of $236.6 million. A reconciliation of all non-GAAP financial results to the comparable GAAP measure is provided on page 6 of this press release. “Envision produced solid financial results from continuing operations for the second quarter that were in line with expectations,” said Christopher A. Holden, President and Chief Executive Officer of Envision. “Our operating and financial performance confirms our strategic rationale for the transformational merger that we completed eight months ago. We are on track to capture the expected financial synergies, continue to generate interest among health systems for our solutions, and have expanded our platform with the acquisition of nine physician group practices and four ambulatory surgery centers (ASCs) during the first half of 2017. At the same time, we are successfully streamlining our operations and focusing on our core physician-centric activities.” Envision reports two operating segments as continuing operations: Physician Services, which includes facility-based and post-acute services; and Ambulatory Services. This follows the decision earlier this year to market and divest American Medical Response, Envision’s Medical Transportation business. As a result of the movement of this business to discontinued operations, and as required by accounting guidelines, Envision re-allocated certain corporate expenses associated with its shared services model to continuing operations. This re-allocation impacts segment Adjusted EBITDA by $8.5 million for the three months ended June 30, 2017. The re-allocation results in a reduction of Adjusted EBITDA in the second quarter of $6.5 million for Physician Services and $2.0 million for Ambulatory Services, with a corresponding Adjusted EBITDA increase of $8.5 million for discontinued operations. Upon the planned divestiture of the Medical Transportation business, a portion of these shared services are likely to remain with that business. Physician Services In order to enhance the comparability of results following the merger of AMSURG Corp. (“AMSURG”) and Envision Healthcare Holdings, Inc. (“EHH”), which was completed on December 1, 2016, the following discussion presents Envision Physician Services’ results for the prior-year period as if the two separate Physician Services’ segments of AMSURG and EHH, based on historically reported results, had been combined effective January 1, 2016. Net revenues for Physician Services were $1.63 billion for the second quarter of 2017, an increase of 9.3% from $1.49 billion during the prior-year period. Revenue growth was driven by contributions from acquisitions of 10.6% and 2.5% from same contracts. New contracts contributed revenue growth of 5.6%, offset by terminations of 7.1%, resulting in a net decline of 1.5% from new contracts, an anticipated improvement from the first quarter of 2017. New contracts were also impacted by a 2.3% decline due to the previously announced population health contract termination. Same-contract revenue growth was 3.2% in the second quarter of 2017 when compared to the prior-year period. Same-contract patient care volume grew by 1.1% and same-contract net revenue related to revenue per patient encounter grew by 2.1%, compared to the prior-year period. Same-contract patient volume was driven by strong growth in anesthesia and hospitalist medicine, offset by volume declines in emergency medicine. Same-contract rate improved in emergency medicine and declined in anesthesia. For the second quarter of 2017, Adjusted EBITDA was $193.3 million, or $199.8 million when excluding the corporate expense re-allocation of $6.5 million. This compares with $190.5 million for the prior-year period. Ambulatory Services Net revenues for the second quarter of 2017 were $318.5 million, which compares to $319.8 million for the prior-year period. Same-center revenue increased by 0.6% for the second quarter of 2017, which was comprised of a 0.5% increase in net revenue per procedure and an increase of 0.1% in procedure volume. Deconsolidated centers contributed incremental revenues of $4.7 million for the second quarter of 2016. For the second quarter of 2017, Adjusted EBITDA was $60.5 million, or $62.5 million when excluding the corporate expense re-allocation of $2.0 million. This compares with $61.7 million for the prior-year period. Ambulatory Services operated 263 ASCs and one surgical hospital at June 30, 2017. Ambulatory Services acquired two centers and disposed of three centers during the quarter. Liquidity Envision had cash and cash equivalents of $464.6 million at June 30, 2017, which includes $23.3 million of cash attributable to its Medical Transportation business. Availability under its asset-based lending facility was $619.7 million as of June 30, 2017. During 2017 through today, Envision has invested more than $600 million in acquisitions. Net cash flows from operations, less distributions to noncontrolling interests and excluding transaction costs, were $236.6 million for the second quarter of 2017. The Company’s ratio of total net debt at June 30, 2017, to trailing 12 months EBITDA as calculated under the Company’s credit agreement was 4.5 times. Interest expense reflects a re-allocation of $21.8 million to discontinued operations for the three months ended June 30, 2017. Discontinued Operations Envision’s Medical Transportation business is reported as a component of discontinued operations following a decision made earlier this year to market and divest American Medical Response. Net revenues from discontinued operations were $588.8 million for the second quarter of 2017, and declined by 0.3% compared to the prior-year period. Adjusted EBITDA was $68.2 million, or $59.7 million when excluding the favorable impact of $8.5 million from the re-allocation of corporate expenses. Guidance Envision is revising its 2017 guidance to reflect lower emergency medicine volumes and their impact on Envision’s financial performance. Envision now anticipates that it will generate net revenues of $7.75 billion to $8.00 billion for 2017. Guidance is unchanged for same-contract revenue growth of 3% to 4% for Physician Services, and same-center revenue growth of 0% to 1% for ASCs. Envision expects Adjusted EBITDA of $1.02 billion to $1.04 billion. The top end of Envision’s most recent Adjusted EBITDA guidance is being reduced by $26 million, or approximately 2%, principally due to lower anticipated emergency medicine volumes than had been previously forecast. Adjusted EPS for the year is expected to be $3.35 to $3.45. For the third quarter of 2017, Envision expects to generate Adjusted EBITDA of $266 million to $278 million, and Adjusted EPS of $0.87 to $0.93. Non-GAAP Adjusted EBITDA guidance for the full year and third quarter of 2017 excludes interest expense, income taxes, depreciation, amortization, share-based compensation, impairment charges, debt extinguishment costs, transaction and integration costs, changes in contingent purchase price consideration, gain or loss on deconsolidations and discontinued operations, net of non-controlling interests. Non-GAAP Adjusted EPS guidance for the full year and third quarter of 2017 excludes acquisition-related transaction and integration costs, acquisition-related amortization expense, gains and losses on future deconsolidation transactions, share-based compensation, impairment charges and debt extinguishment costs, net of tax impact. Envision is not providing a reconciliation of its Adjusted EBITDA and Adjusted EPS guidance because the exact amount of individual adjustments for these items are not currently determinable, including variability and timing associated with acquisitions, disposals, deconsolidations and impairment charges. These amounts may be significant and may vary significantly from period to period (see page 6 for a reconciliation of all historical GAAP and non-GAAP financial results). Conference Call Information Envision will host a conference call at 8:30 a.m. Eastern Time Tuesday, August 8, 2017, to discuss its financial results. The live broadcast of Envision’s quarterly conference call will be available on-line by going to www.evhc.net and clicking on the link to Investors. The on-line replay will follow shortly after the call and continue for 30 days. About Envision Healthcare Corporation Envision Healthcare Corporation is a leading provider of physician-led services and post-acute care, and ambulatory surgery services. At June 30, 2017, we delivered physician services, primarily in the areas of emergency department and hospitalist services, anesthesiology services, radiology/tele-radiology services, and children’s services to more than 1,800 clinical departments in healthcare facilities in 47 states and the District of Columbia. Post-acute care is delivered through an array of clinical professionals and integrated technologies which, when combined, contribute to efficient and effective population health management strategies. As a market leader in ambulatory surgical care, the Company owns and operates 263 surgery centers and one surgical hospital in 35 states and the District of Columbia, with medical specialties ranging from gastroenterology to ophthalmology and orthopaedics. In total, the Company offers a differentiated suite of clinical solutions on a national scale, creating value for health systems, payors, providers and patients. For additional information, visit www.evhc.net. Forward-Looking Statements Certain statements and information in this communication may be deemed to be “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, but are not limited to, statements relating to the Company’s financial and operating objectives, plans and strategies, and all statements (other than statements of historical facts) that address activities, events or developments that the Company intends, expects, projects, believes or anticipates will or may occur in the future. These statements are often characterized by terminology such as “believe,” “hope,” “may,” “anticipate,” “should,” “intend,” “plan,” “will,” “expect,” “estimate,” “project,” “positioned,” “strategy” and similar expressions, and are based on assumptions and assessments made by the Company’s management in light of their experience and their perception of historical trends, current conditions, expected future developments, and other factors they believe to be appropriate. Any forward-looking statements in this communication are made as of the date hereof, and the Company undertakes no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance. Whether actual results will conform to expectations and predictions is subject to known and unknown risks and uncertainties, including: (i) risks and uncertainties discussed in the reports and other documents that the Company files with the Securities and Exchange Commission; (ii) general economic, market, or business conditions; (iii) the impact of legislative or regulatory changes, such as changes to the Patient Protection and Affordable Care Act, as amended by the Health Care and Education Reconciliation Act of 2010; (iv) changes in governmental reimbursement programs; (v) decreases in revenue and profit margin under fee-for-service contracts due to changes in volume, payor mix and reimbursement rates; (vi) the loss of existing contracts; (vii) risks associated with the ability to successfully integrate the Company’s operations and employees following the merger; (viii) the ability to realize anticipated benefits and synergies of the business combination; (ix) the potential impact of the consummation of the transaction on the Company’s relationships, including with employees, customers and competitors; and (x) other circumstances beyond the Company’s control. Unaudited Selected Consolidated Financial and Operating Data (In millions, except earnings per share) Statement of Operations Data: Unaudited Selected Consolidated Financial and Operating Data, continued (In millions, except earnings per share) Net gain on disposals and deconsolidations, net of noncontrolling interests Net gain on disposals and deconsolidations, net of noncontrolling interests See footnotes on page 12 Unaudited Selected Consolidated Financial and Operating Data, continued (In millions) Physician Services Ambulatory Services Medical Transportation (Discontinued Operations) __________ (1) Excludes amounts from EHH for the three and six months ended June 30, 2016. (2) Amounts from Medical Transportation represent discontinued operations for the three and six months ending June 30, 2017. (3) For the three and six months ended June 30, 2017 and on a before tax basis, approximately $15.1 million and $29.6 million, respectively, of general corporate expenses, including allocations for corporate salaries and stock based compensation, general and administrative costs and depreciation, were removed from the medical transportation business and reallocated to the Company's remaining segments. This removal of corporate expenses resulted in a reduction of Adjusted EBITDA in the physician services and ambulatory services segments for the three and six months ended June 30, 2017 of $6.5 million and $2.0 million and $13.4 million and $4.0 million, respectively. See footnotes for definitions of non-GAAP measures on page 12 Unaudited Selected Consolidated Financial and Operating Data, continued (In millions) Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 Unaudited Selected Consolidated Financial and Operating Data, continued Operating Data - Physician Services: __________ (4) Amount excludes the results from EHH physician services for the three and six months ended June 30, 2016. Operating Data - Ambulatory Services: Unaudited Selected Consolidated Financial and Operating Data, continued (Dollars in millions, shares in thousands) Balance Sheet Data: Unaudited Selected Consolidated Financial and Operating Data, continued (In millions) Statement of Cash Flow Data: Adjustments to reconcile net earnings (loss) to net cash flows provided by operating activities: Increases (decreases) in cash and cash equivalents, net of acquisitions and dispositions: ENVISION HEALTHCARE CORPORATION Footnotes to Reconciliations of Non-GAAP Measures to GAAP Measures