GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- Emergency Medical Services Corporation (NYSE: EMS) (The Company) announced that its American Medical Response (AMR) subsidiary has entered into an agreement to acquire Gold Coast Ambulance Service, based in Oxnard, California. Founded in 1949, Gold Coast Ambulance is a privately-owned company that provides emergency and non-emergency ambulance services in southwest Ventura County.
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 expand into new markets.”
Upon completion of the transaction, Gold Coast Ambulance Service will become a wholly-owned subsidiary of American Medical Response. AMR and Gold Coast Ambulance will continue to operate under their respective brands in the Ventura County market. The Company estimates that the acquisition will contribute approximately $8 million in annual net revenue and approximately 18,000 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 outsourced facility-based physician services segment. AMR is the leading provider of ambulance services in the United States. EmCare is a leading provider of outsourced physician services to healthcare facilities. In 2009, EMSC provided services in 13.0 million patient encounters in more than 2,200 communities nationwide. EMSC is headquartered in Greenwood Village, Colorado. For additional information, visit www.emsc.net.
About American Medical Response
American Medical Response Inc. (www.amr.net), America’s leading provider of medical transportation, provides services in 39 states and the District of Columbia. AMR’s 18,500 paramedics, EMTs and other professionals transport more than three million patients nationwide each year in critical, emergency and non-emergency situations. Operating a fleet of approximately 4,500 vehicles, AMR, a subsidiary of Emergency Medical Services Corporation, (NYSE: EMS) is headquartered in Greenwood Village, Colorado.
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 Annual Report on Form 10-K and subsequent periodic reports. 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 and methods; the adequacy of our insurance coverage and insurance reserves; potential penalties or changes to our operations if we fail to comply with extensive and complex government regulation of our industry; the impact of potential changes in the healthcare industry generally resulting from legislation currently under consideration; our ability to recruit and retain qualified physicians and other healthcare professionals, and enforce our non-compete agreements with our physicians; our ability to generate cash flow to service our debt obligations; the cost of capital expenditures to maintain and upgrade our vehicle fleet and medical equipment; the loss of one or more members of our senior management team; the outcome of government investigations of certain of our business practices; our ability to successfully restructure our operations to comply with future changes in government regulation; the loss of existing contracts and the accuracy of our assessment of costs under new contracts; the high level of competition in our industry; our ability to implement our business strategy; our ability to successfully integrate strategic acquisitions; and our ability to comply with the terms of our settlement agreements with the government.
Emergency Medical Services Corporation
Deborah Hileman, 303-495-1210
KEYWORDS: United States North America California Colorado
INDUSTRY KEYWORDS: Health Hospitals Other Health General Health