KKR & Co.’s Envision Healthcare Corp. is exploring a chapter 11 bankruptcy that would give control of the physician-staffing company to its creditors, according to people familiar with the matter. Envision is in negotiations with some of its lenders about a restructuring that could result in KKR, its private-equity owner, writing down its stake, these people said. The staffing company has struggled with debt, litigation and other headwinds since KKR bought it in 2018 for roughly $6 billion, excluding debt.
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Source: https://www.wsj.com/articles/kkrs-envision-weighs-handing-control-to-creditors-in-a-bankruptcy-30d5ed25