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Envision Healthcare (EVHC) Acquires Anesthesia Associates

Envision Healthcare Corporation EVHC, a provider of physician-led outsourced medical services to consumers, hospitals and healthcare systems in the U.S., recently announced that it has acquired Connecticut based anesthesia physician group practice, Anesthesia Associates of New London, P.C.

Stock Performance

The price performance of Envision Healthcare was unfavorable in the last three months. The stock gained only 4.1%, underperforming the Zacks classified Medical-Outpatient/ Home Care sub-industry’s gain of 8.2%.

The estimate revision trend for the current year has been unfavorable. Four estimates have moved south in the last two months against no movement in the opposite direction. This justifies the stock’s Zacks Rank #5 (Strong Sell).


Coming back to the news, the acquisition is a prudent move on part of the company as Anesthesia Associates is the exclusive provider of anesthesia services at Lawrence and Memorial Hospital in New London, CT.  It also operates three ambulatory surgery centers in the area. Its network consists of more than 25 clinical professionals, including 10 physicians.

Headquartered in Greenwood Village, CO, Envision Healthcare is a leading provider of physician-led services, ambulatory surgery services, post-acute care and medical transportation. Physician-led services are provided at more than 780 hospitals in 45 states and the District of Columbia. The company owns and operates 264 surgery centers and one surgical hospital in 35 states and the District of Columbia.

Zacks Rank and Stocks to Consider

A few better-ranked medical stocks are Align Technology, Inc. ALGN, Inogen, Inc. INGN and Accelerate Diagnostics, Inc. AXDX. Notably, Inogen sports a Zacks Rank #1 (Strong Buy), while Align Technology and Accelerate Diagnostics carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Align Technology has an expected long-term adjusted earnings growth rate of almost 24.1%. The stock has roughly added 33.6% over the last three months.

Inogen’s long-term expected earnings growth rate is likely to 17.5%. The stock has gained around 22.5% over the last three months.

Accelerate Diagnostics has an expected long-term adjusted earnings growth rate of 30%. The stock has added roughly 15.8% over the last three months.

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Inogen, Inc (INGN): Free Stock Analysis Report
 
Accelerate Diagnostics, Inc. (AXDX): Free Stock Analysis Report
 
Envision Healthcare Corporation (EVHC): Free Stock Analysis Report
 
Align Technology, Inc. (ALGN): Free Stock Analysis Report
 
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