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Tuesday, November 10, 2015

Air Methods Eyes More Air Medical, Tourism Buys

Air Methods remains on the prowl for companies to acquire in the air medical sectors, according to its CEO. The company said back in August that it "had meaningful pursuits ongoing within both” sectors and believes that "that is still applicable today,” said Air Methods Chief Aaron Todd Nov. 5 after revealing one pursuit. The company said it has a definitive agreement to acquire Tri-State Care Flight for $222.5 million and expects to close on the acquisition of the $81.5 million revenue operator by early December or January. Founded in 2002, Tri-State provides critical-care transport services in Arizona, New Mexico, Nevada and Colorado with rotary- and fixed-wing aircraft. (In October, Air Methods completed its takeover of San Antonio AirLIFE. Owned by Baptist Health System of San Antonio/Tenet Corporation and Bexar County Hospital District, San Antonio AirLIFE has five bases including those in New Braunfels, Kerrville, Uvalde and Pleasanton, Texas.) Tri-State Care Flight was one of those being pursued in August, Todd said, “and we still have meaningful pursuits in both sectors at this time as well. It's a very fruitful time right now and we believe there's a lot of opportunities yet to come.”

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