Navigation Links
Air Methods Completes Acquisition of FSS Airholdings, Inc., Parent Company of CJ Systems Aviation Group, Inc.
Date:10/1/2007

DENVER, Oct. 1 /PRNewswire-FirstCall/ -- Air Methods Corporation (Nasdaq: AIRM), the largest air medical transportation company in the world, announced today that the Company has completed its acquisition of 100% of the outstanding common stock of FSS Airholdings, Inc. (parent company of CJ Systems Aviation Group, Inc., or "CJ") based in Pittsburgh, PA. The transfer of ownership was effective today at 12:01 a.m.

The final cash purchase price was $25 million and was primarily financed through a new five-year, $50 million term loan and a new five-year, $50 million line of credit with a commercial bank group. The term loan and line of credit bear floating interest rates at Prime, which is currently 7.75%. The existing Air Methods term loan and CJ indebtedness were paid off with the proceeds from these new lending facilities as well.

Mr. Aaron Todd, Chief Executive Officer of Air Methods, stated, "We are extremely pleased to have completed this acquisition on the original anticipated closing date. Initial feedback regarding this business combination from customers and communities served by both Air Methods and CJ has been very favorable overall. We now look forward to realizing the many benefits this acquisition will create for our customers, employees, and investors."

Air Methods Corporation (http://www.airmethods.com) is a leader in emergency aeromedical transportation and medical services. The Hospital Based Services Division is the largest provider of air medical transport services for hospitals. The Community Based Services Division is the largest community-based providers of air medical services. The Products Division specializes in the design and manufacture of aeromedical and aerospace technology. The Company's fleet of owned, leased or maintained aircraft features over 300 helicopters and fixed wing aircraft.

Forward Looking Statements: This news release includes certain forward-looking statements, which are subject to various risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors, including but not limited to the size, structure and growth of the Company's air medical services and products markets; the collection rates for patient transports; the continuation and/or renewal of air medical service contracts; the acquisition of profitable Products Division contracts and other flight service operations; the successful expansion of the community-based operations; and other matters set forth in the Company's public filings.

CONTACTS: Aaron D. Todd, Chief Executive Officer, (303) 792-7413 or Joe Dorame at Lytham Partners, LLC at (602) 889-9700. Please contact Christine Clarke at (303) 792-7579 to be included on the Company's fax and/or mailing list.


'/>"/>
SOURCE Air Methods Corporation
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Adopting Easier Methods To Screen Insulin Resistance
2. New methods to prevent injury of patients
3. Methods to have a flat stomach
4. Bioengineering production strains - Microbia develops new methods
5. Easier Methods Required to Screen Insulin Resistance
6. Easier Methods Required to Screen Insulin Resistance
7. Accuracy of Some Natural Family Planning Methods Questioned .
8. The weight loss reality check – Do Fad diets and short-cut methods actually work
9. Researchers Have Found New Methods To Treat Parkinson’s Diseas
10. US Thinks About The Alternative Methods To Combat Bird Flu
11. Researchers Opts For Better Screening Methods For Detecting Ovarian Cancer
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/5/2016)... ... May 05, 2016 , ... Phycologia ... A (UV-A) for photosynthesis, researchers Juntian Xu and Kunshan Gao tested the magnitude ... pair observed that when photosynthetically active radiation (i.e. the white light in our ...
(Date:5/5/2016)... , ... May 05, 2016 , ... ... organization, announces McLaughlin & Smoak Benefits as the latest addition to its family ... has a dedicated team of compliance, wellness, human resources, and health care consumerism ...
(Date:5/5/2016)... , ... May 05, 2016 , ... ... compensation laws in all U.S. states and certain Canadian provinces is now available ... Workers Compensation Research Institute (WCRI). , The report, Workers’ Compensation Laws ...
(Date:5/5/2016)... ... ... A recent survey by the Midwest Business Group on Health ... use the free preventive care benefits available to them as part of the Affordable ... public and private employers, MBGH found that only 10% of large employers are aware ...
(Date:5/5/2016)... TX (PRWEB) , ... May 05, 2016 , ... Vitenas ... AIA/AAH Healthcare Design Awards, presented by the American Institute of Architects and the Academy ... designed by the renowned Perkins+Will and Harrell Architects, opened to patients in October of ...
Breaking Medicine News(10 mins):
(Date:5/3/2016)... 2016  As a teenager, an active and athletic ... damaged his heart. He continued enjoying sports and recreation ... Shepherd,s heart was giving out and he was a ... 2013, the Mesa, Arizona resident ... a heart transplant, the SynCardia TAH-t is the only ...
(Date:5/3/2016)... 3, 2016  While you may be familiar with watching a film or TV show in ... ultra-high-definition or 8MP in the Medical Industry.  Ampronix  is a renowned authorized reseller of the ... Photo - http://photos.prnewswire.com/prnh/20160502/362730 ... ... ...
(Date:5/3/2016)... -- Pharmaceutical giant Johnson & Johnson has ... who says its talc-based powder products caused ovarian cancer. ... $5 million in compensatory damages and $50 million in ... ) , This is the second in ... the same court awarded $72 million to the family ...
Breaking Medicine Technology: