Envision Healthcare hires lender to research debt restructuring – Reuters (NYSE:KKR)

KKR-owned Envision Healthcare has appreciated Houlihan Lokey as a financial adviser to explore strategies to restructure its 7.5B debt heap, Reuters reports.

Picture’s recent deal to lenders to swap some of its own bonds with advance borrowings will be inadequate to keep the business afloat, as well as the firm is going to have to create more significant reductions to its own debt, according to the report.

Picture’s revenues have dropped as individuals not having contracted the coronavirus are preventing discretionary procedures and remaining away from emergency rooms because of fear of becoming infected.

The firm said last week which individual volumes have dropped up to 70percent in its own ambulatory surgery and anesthesia solutions because the start of the pandemic, while the emergency room visits are down by 30 percent.

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