(Reuters) – Envision Healthcare Holdings Inc, the parent of the largest U.S. provider of ambulance services formerly known as Emergency Medical Services Corp (EMSC), filed with regulators to raise up to $100 million in an initial public offering of common stock.
Reuters reported in April that EMSC had selected banks to lead a $750 million initial public offering.
The amount of money a company says it plans to raise in its first IPO filing is a placeholder used to calculate registration fees. The final amount can be different.
The company changed its name to Envision Healthcare Corp in June.
The Greenwood Village, Colorado-based company is backed by private equity firm Clayton, Dubilier & Rice LLC and markets its service under the EmCare and AMR brands.
EMSC was founded in 2005 when Canadian private equity firm Onex Corp (OCX.TO: Quote, Profile, Research, Stock Buzz) acquired medical transportation company American Medical Response and physicians services provider EmCare and merged the two. EMSC went public that same year.
Clayton, Dubilier & Rice took the company private in 2011 for $2.9 billion. It also assumed $300 million of the company’s debt.
The IPO filing did not reveal how many shares the company would be offering or their expected price.
A number of private equity firms like Blackstone Group LP (BX.N: Quote, Profile, Research, Stock Buzz), Apollo Global Management LLC (APO.N: Quote, Profile, Research, Stock Buzz) and KKR & Co LP (KKR.N: Quote, Profile, Research, Stock Buzz) have been taking advantage of a stock market rally and record-low interest rates in the debt markets to exit key investments.
Envision Healthcare, which has more than 20,000 affiliated clinicians in the Unites States, generated revenue of $3.3 billion in 2012, according to the IPO filing.
Goldman Sachs, Barclays, BofA Merrill Lynch and Citigroup are acting as lead underwriters to the offering.