US-based Envision Healthcare Holdings (EVHC) has entered into a definitive agreement to acquire Emergency Physicians Medical Group (EPMG) based in Ann Arbor, Michigan, US, for $120m including a contingent consideration based on EPMG's post-closing performance.
EPMG is comprised of more than 500 clinical providers and has 37 facilities spread across Michigan, Illinois, Indiana, Ohio, Iowa and Delaware, US.
Envision stated that the acquisition of EPMG is expected to add around $140m to its annual net revenue.
The EPMG facilities address nearly one million patients annually in emergency and hospital medicine departments, as well as urgent care centres across the Midwest.
Additionally, the medical group conducts community paramedicine programmes and offer telemedicine services in urgent care and post-acute care operations.
EPMG president and CEO Christopher Newton said: "Joining the Envision team not only allows us unparalleled infrastructure support and the ability to offer additional integrated services to our facility partners, it enables us to broaden our reach in our communities by partnering with EmCare, Evolution Health and AMR."
The merger is Envision's attempt to invite physician groups interested in building team-based and integrated solutions for health plan, hospital system and community partners.
Subject to certain closing conditions, the process is expected to conclude within 30 days.
Envision's American Medical Response (AMR) healthcare transportation segment has been awarded three new contracts with large health systems and will also provide system relief to DC Fire and EMS by adding basic life support services in the Washington, DC metro area later this month.