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Air Methods To Acquire Tri-State Care Flight

The following excerpt is from the company's SEC filing.

Expected to be immediately accretive to earnings per share by greater than $0.20 in year one and greater than $0.30 in year two

Air Methods Corporation (NASDAQ: AIRM), the global leader in air medical transportation, today announced that it has entered into a definitive agreement to acquire Tri-State Care Flight (“Tri-State”) for $222.5 million. Tri-State generated net revenue of $81.5 million for the fiscal year ended Dec. 31, 2014.

The transaction, which was unanimously approved by Air Methods’ Board of Directors, is expected to be immediately accretive to Air Methods ’ earnings per share by greater than $0.20 in year one and by greater than $0.30 in year two. Upon closing, Tri-State will become a wholly-owned subsidiary of Air Methods.

“We are very excited about the acquisition of Tri-State,” said Aaron Todd, chief executive officer of Air Methods. “It represents an opportunity to integrate best practices and further extend Air Methods’ commitment to quality, patient outcomes and safety. We look forward to welcoming Tri-State to the Air Methods team.”

Founded in 2002, Tri-State is a critical care transport provider servicing Arizona, New Mexico, Nevada, and Colorado. Tri-State’s primary mission is to rapidly transport critically ill and injured patients for health care facilities and emergency medical services (EMS) agencies while providing the highest level of care available.

Dr. Blake Stamper, founder and managing member of Tri-State, said, “As a global leader in air medical transport services, Air Methods shares our commitment to superior customer service and the best clinical outcomes for patients in need. By combining with Air Methods, we will be able to serve even more patients across our footprint. We are confident that this will be a seamless transition for our employees...


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