Emergency Medical Services Agrees to Acquire MedicWest Ambulance in Las Vegas, Nevada
12 Giugno 2007 - 4:40AM
Business Wire
Emergency Medical Services Corporation (NYSE:EMS) (the �Company�)
today announced that it has entered into a definitive stock
purchase agreement to acquire MedicWest Ambulance, based in North
Las Vegas, Nevada. MedicWest and American Medical Response (AMR)
are the franchised emergency ambulance transportation services
providers in the greater Las Vegas market. Both companies also
provide non-emergency ambulance services. William A. Sanger, EMSC
Chairman and Chief Executive Officer, said, �This acquisition is
consistent with our strategy to expand our market share in
contiguous service areas in order to enhance economies of scale. We
continue to deliver on our business plan of supplemental growth
through carefully planned acquisitions that complement our current
markets, and expansion into new markets.� Upon completion of the
transaction, MedicWest will be owned by Nevada Red Rock Ambulance,
Inc., a wholly-owned subsidiary of American Medical Response. AMR
and MedicWest will continue to operate under their respective
brands in the Las Vegas market. John Wilson, Executive Partner of
MedicWest said, "We are very pleased with the opportunities that
come from our new affiliation with AMR. This change in ownership
will give the Las Vegas community all the strength of a national
company, combined with local management teams focused on
exceptional patient care and service through the AMR and MedicWest
brands." Bob Ramsey, Chairman of MedicWest and CEO of the parent
company, Starwest, said, �The sale offers a unique opportunity to
deliver high performance ambulance service with some of the finest
EMS personnel in the nation.� The agreement to purchase MedicWest
was entered into on June 11, 2007. The transaction is expected to
close in 30-60 days, subject to local regulatory approvals,
including in Las Vegas, North Las Vegas and Clark County, and other
customary closing conditions. The Company estimates that MedicWest
will contribute annual revenue of approximately $24 million and
60,000 transports. About Emergency Medical Services Corporation
Emergency Medical Services Corporation (EMSC) is a leading provider
of emergency medical services in the United States. EMSC operates
two business segments: American Medical Response, Inc. (AMR), the
Company�s healthcare transportation services segment, and EmCare
Holdings, Inc. (EmCare), the Company�s emergency department and
hospital-based management services segment. AMR is the leading
provider of ambulance services in the United States. EmCare is the
nation�s leading provider of outsourced emergency department
staffing and related management services. In 2006, EMSC provided
services to 10 million patients in more than 2,000 communities
nationwide. EMSC is headquartered in Greenwood Village, Colorado.
About American Medical Response American Medical Response Inc.
(www.amr.net), America�s leading provider of medical
transportation, is locally operated in 36 states and the District
of Columbia. More than 18,000 AMR paramedics, EMTs and other
professionals transport nearly four million patients nationwide
each year in critical, emergency and non-emergency situations.
Operating a fleet of approximately 4,400 vehicles, AMR is
headquartered in Greenwood Village, CO. 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 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 the loss of existing
contracts and the accuracy of our assessment of costs under new
contracts.
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