EMSC Agrees to Acquire Air Ambulance Specialists, Inc.; Announces Paydown of Debt
05 Giugno 2006 - 10:51PM
Business Wire
Emergency Medical Services Corporation (NYSE: EMS) today announced
that it has entered into a definitive agreement to expand its
medical transportation services with the acquisition of Englewood,
Colorado-based Air Ambulance Specialists, Inc. (AASI). AASI is a
leader in the management of domestic and international air
ambulance transportation utilizing medically equipped, fixed wing
aircraft. According to William A. Sanger, EMSC Chairman and CEO,
"We're excited about the addition of fixed wing ambulance services
to EMSC. AASI's stellar growth is indicative of their commitment to
quality service and their entrepreneurial spirit, which we believe
will serve as an excellent platform for future expansion." Sanger
continued, "The acquisition will provide our American Medical
Response (AMR) subsidiary the opportunity to leverage its
industry-leading competencies in logistics and call center
management. Today, EMSC has relationships with more than 3,000
healthcare facilities nationwide that will now have increased
access to quality air ambulance services." Don Jones, President of
AASI, added, "We are looking forward to continuing to grow the
business as a part of EMSC and American Medical Response. Our
shared philosophy of quality patient care further promotes the
expansion of our domestic and international markets." The agreement
to purchase AASI was entered into on June 3, 2006. The acquisition
is expected to close on or before June 30, 2006, subject to
customary closing conditions. EMSC estimates that the AASI
acquisition will contribute annual revenue of approximately $25
million. The Company also announced that in May 2006 it made an
unscheduled debt reduction payment of $10 million on its senior
secured debt facility. Forward-Looking Statements Certain
statements and information herein may be deemed to be
"forward-looking statements" within the meaning of the Federal
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may include, but are not limited to, statements relating
to our objectives, plans and strategies, and all statements (other
than statements of historical facts) that address activities,
events or developments that we intend, expect, project, believe or
anticipate will or may occur in the future. Any forward-looking
statements herein are made as of the date of this press release,
and EMSC undertakes no duty to update or revise any such
statements. Forward-looking statements are not guarantees of future
performance and are subject to risks and uncertainties. Important
factors that could cause actual results, developments and business
decisions to differ materially from forward-looking statements are
described in EMSC's filings with the SEC from time to time,
including in the section entitled "Risk Factors" in the Company's
most recent Form 10-K. Among the factors that could cause future
results to differ materially from those provided in this press
release are: the integration of AASI into our business; the impact
on our revenue of changes in transport volume, mix of insured and
uninsured patients, and third party reimbursement rates; potential
penalties or changes to our operations if we fail to comply with
extensive and complex government regulation of our industry and
AASI's industry; and the loss of existing contracts and the
accuracy of our assessment of costs under new contracts. About
Emergency Medical Services Corporation Under the recognized brands
of EmCare(R) and American Medical Response(R) (AMR), Emergency
Medical Services Corporation, headquartered in Greenwood Village,
Colorado, is a leading provider of emergency medical services in
the United States, serving more than 9 million patients each year.
EmCare provides outsourced emergency department staffing and
management services to more than 335 hospitals in 39 states.
American Medical Response is America's leading provider of
ambulance services, with local operations in over 250 communities
in 35 states. For more information, visit www.emsc.net. About Air
Ambulance Specialists, Inc. Air Ambulance Specialists manages
domestic and international air ambulance transportation utilizing
private, medically equipped, fixed wing aircraft. Air Ambulance
Specialists manages fixed wing air ambulance services offering
"bed-to-bed" aeromedical transport, which can include ground
transportation, specialized aeromedical transport care, as well as
any other incidentals necessary to a successful patient transport.
Three levels of medical transport are provided: advanced life
support, basic life support, and critical care.
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