UPDATE: Canaccord Genuity Starts Envision Healthcare (EVHC) at Buy

(Updated - September 17, 2015 1:45 PM EDT)

Canaccord Genuity initiated coverage on Envision Healthcare (NYSE: EVHC) with a Buy rating and a price target of $51. Analyst Richard Close has confidence it will continue to be successful and adapt to the changing landscape.

"There are few management teams that have the foresight to position their companies for where the market is evolving to as opposed to solely focusing on the current operating environment. EVHC exemplifies this vision," said Close.

"We believe that EVHC’s strategy to be a leading provider of clinical human capital and outsourced services to the healthcare industry will lead to sustained growth as the need for improved care coordination and employee management increases with the evolution to value-based reimbursement models. Envision has differentiated itself from peers in both its AMR and EmCare divisions through the adoption of workflow technology (AMR) and innovative services offerings (bundled hospitalist/ED staff and JV’s). Furthermore, the rapid development of Evolution Health in population health and care coordination has uniquely positioned EVHC for the new healthcare paradigm, in our view. The strong visionary competency of EVHC gives us confidence that it will continue to be successful and adapt to the changing landscape," added the analyst.

For an analyst ratings summary and ratings history on Envision Healthcare click here. For more ratings news on Envision Healthcare click here.

Shares of Envision Healthcare closed at $42.45 yesterday.

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