GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- Emergency Medical Services Corporation (NYSE: EMS) (the “Company”) announced that it has completed its acquisition of the anesthesia services companies associated with Clinical Partners, P.A. (CPPA). AnesthesiaCare has been providing management services to CPPA providers since purchasing management services and billing entities from CPPA in 2008. The CPPA anesthesia services companies are now a part of AnesthesiaCare.
The transaction was completed on June 4, 2010, and the associated contracts are expected to contribute annual net revenue of $80 million.
The Company also announced that it has completed its acquisition of Gold Coast Ambulance Service, based in Oxnard, California. The transaction was completed on May 28, 2010. Now a wholly owned subsidiary of American Medical Response, Gold Coast provides emergency and non-emergency ambulance services in southwest Ventura County. The Company expects the acquisition to contribute approximately $8 million in annual net revenue and approximately 18,000 transports. AMR and Gold Coast Ambulance will continue to operate under their respective brands in the Ventura County market.
William A. Sanger, EMSC Chairman and Chief Executive Officer, said, “These acquisitions support our strategies to expand medical transportation services into contiguous markets, and to grow our service lines to meet increasing demand for outsourced facility-based physician services.”
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 facility-based physician services segment. AMR is the leading provider of ambulance services in the United States. EmCare is a leading provider of 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.
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 and subsequent periodic reports. Among the factors that could cause future results to differ materially from those provided in this press release are: the integration of newly acquired entities into our business, the impact on our revenue of 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.
Emergency Medical Services Corporation
Deborah Hileman, 303-495-1210
KEYWORDS: United States North America California Colorado
INDUSTRY KEYWORDS: Health Hospitals Other Health General Health