Envision Healthcare’s CEO steps down abruptly

As the private-equity owned physician services provider goes through an investigation into its  billing practices, Envision Healthcare’s CEO decided to step down without prior notice. 

Chris Holden’s departure comes amidst the federal lawmakers’ review of Envision’s responses to their December inquiry into its billing practices. Moreover, Envision’s owner, private equity firm KKR has “poured millions of dollars into a dark money campaign” in order to stop surprise billing proposals that would in turn harm the company’s bottom-line, as revealed by the federal lawmakers. 

A nation-wide search is on for Holden’s replacement. While a new CEO is found, Karey Witty, Chief Operating Officer, Teresa Sparks, Chief Financial Officer, and Dave Esler, Chief Administrative Officer will lead the company and help navigate through these turbulent times for the company. 

“On behalf of the board of directors, we appreciate Chris’ dedication to Envision’s clinicians and employees and thank him for his many contributions to the company,” said Max Linn, KKR partner and Envision director, in a statement. 

The federal lawmakers are investigating Envision amidst a number of reports where patients are being hit with unexpected medical bills from out-of-network physicians following hospital visits and the US House Energy and Commerce Committee and US Senate Health, Education, Labor and Pensions Committee had sent a letter to Holden asking for answers to questions regarding the company’s business practices, according to reports.