Emergency Medical Services Completes Acquisition of River Medical, Inc., in Arizona; Announces New Contract with Molina Healthca
11 Marzo 2008 - 4:00PM
Business Wire
Emergency Medical Services Corporation (NYSE: EMS) today announced
that it has completed its acquisition of River Medical, Inc., based
in Lake Havasu City, Ariz. River Medical is the exclusive provider
of emergency ambulance transportation services to Lake Havasu City
and La Paz and Mohave Counties in western Arizona. River Medical is
now a wholly owned subsidiary of American Medical Response, and
will continue to operate under the River Medical brand. The Company
anticipates that the acquisition will contribute approximately $8.5
million in annual revenue and 12,500 transports. William A. Sanger,
EMSC Chairman and Chief Executive Officer, said, �This acquisition
further supports our strategy to expand into new markets which we
believe have strong growth potential. We are especially pleased to
be entering the Arizona market, which boasts some of the fastest
growing communities in the country. River Medical, a strong and
well-managed company, will serve as an excellent platform for
expansion of our ambulance services in Arizona.� The Company also
announced that its American Medical Response, Inc. (AMR) subsidiary
has entered into an agreement as a provider of non-emergency
medical transportation management services with Molina Healthcare
of Michigan. Molina Healthcare arranges for the delivery of health
care services to persons eligible for Medicaid, Medicare, and other
government-sponsored programs for low-income families and
individuals. Under a five-year agreement, AMR will provide
non-emergency medical transportation management services beginning
June 1, 2008 to approximately 209,000 Molina members in Michigan.
Sanger added, �We're pleased with our ongoing successes in growing
AMR�s managed transportation business with Access2Care. This
agreement is yet another example of the Company implementing its
strategy to leverage organic growth opportunities using the
significant scale and scope of both our technology and our record
of high quality service. Access2Care helps assure that thousands of
Molina Healthcare members receive the right level of care and
transportation, at the right time.� About Emergency Medical
Services Corporation Emergency Medical Services Corporation (EMSC)
(www.emsc.net) 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 2007, 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 37 states and the District of Columbia. More than
18,500 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 4,500 vehicles, AMR is headquartered in Greenwood
Village, Colorado. 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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