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Report: UnitedHealth also eyeing Envision Healthcare's ambulatory services unit

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Report: UnitedHealth also eyeing Envision Healthcare's ambulatory services unit

UnitedHealth Group Inc. has joined the race to acquire the ambulatory services unit of Envision Healthcare Corp., Bloomberg News reported, citing "people familiar with the matter."

The unit owns and operates day surgery centers and accounted for about 16% of Envision's revenue in 2017.

A consortium of Hellman & Friedman LLC, Onex Corp. and Clayton Dubilier & Rice LLC, and a group of Carlyle Group LP and TPG Capital Management LP are still interested in buying Envision, but may be willing to acquire parts of the Nashville, Tenn.-based healthcare services provider.

If UnitedHealth gets to acquire the surgical unit, the two groups of private equity firms may acquire remaining assets from the company.

A deal could be announced in the coming weeks, according to the report.

Envision in November 2017 announced a review of strategic options after activist investor Starboard Value revealed a stake in the company and said it would be a potential takeover target. Envision in August 2017 agreed to sell its ambulance business to KKR & Co. LP for $2.4 billion.

UnitedHealth acquired Surgical Care Affiliates Inc. for $2.3 billion in March 2017. It owns and operates a network of multi-specialty ambulatory surgery centers and surgical hospitals.