Darspal S Mann
Long/short equity, growth at reasonable price, special situations, Deep Value

Envision Healthcare: Occasionally Bad Things Do Happen To Good Healthcare Services Names

Envision Healthcare (EVHC) stock is down more than 40% over the past six months, but investor concerns behind the correction seem short-term in nature. The business is moving towards normal growth rates, which has created an 'air pocket'. Now that expectations, post IPO in 2013, have re-adjusted, this might be a good time to look at the name, which looks like a great comeback play in the promising physician staffing space.

Last quarter, the company reduced guidance, mainly on the EBITDA side, due to volume weakness and a few under performing contracts, which was not expected from a business that went public in 2013 and was performing well, both relative to physician staffing peers and stand alone. The

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