Emergency Medical Services Acquires Anesthesia, Emergency Department Providers
July 06 2010 - 11:20AM
Business Wire
Emergency Medical Services Corporation (NYSE: EMS) (EMSC or The
Company) today announced that its EmCare segment has completed its
acquisition of Affilion®, an emergency physician staffing and
management company based in Tempe, Arizona. Founded in 2005,
Affilion provides emergency department physician staffing and
related management services in hospitals in Arizona, New Mexico and
Texas. The transaction was completed on June 30, 2010, and
Affilion, Inc. has become a wholly owned subsidiary of EmCare
Inc.
The Company also announced that it has completed its acquisition
of Fredericksburg Anesthesia Consultants, PLLC (FAC), formerly
Anesthesia Consultants of Fredericksburg, L.L.P., a provider of
anesthesia services to facilities in south Texas. Founded in 1995,
FAC is the sole anesthesia services provider for Hill County
Memorial Hospital System and its eight-county service area. The
transaction was completed on June 30, 2010. FAC has become a part
of AnesthesiaCare, the Company’s anesthesia services business.
Combined, the acquisitions are expected to contribute $23 million
in annual net revenue.
William A. Sanger, Chairman and CEO, said “We are excited about
these additions to our facility-based physician services segment,
with two groups of premier physicians who are aligned with our goal
of providing quality care and expanded solutions to the hospitals
we serve. We expect the acquisition of Affilion to provide
opportunities for expansion of our facility-based service lines in
Arizona and New Mexico. The FAC acquisition complements our current
anesthesia services in Texas, and positions the Company well for
additional cross selling opportunities in these markets.”
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 EmCare®
EmCare, Inc. is a leading provider of facility-based physician
services for emergency, anesthesiology, radiology/teleradiology and
inpatient services departments. Founded in 1972, EmCare has more
than 500 exclusive contracts with client hospitals in 40 states. In
2009, EmCare-affiliated clinicians provided services in more than
nine million patient encounters. For more information, visit
www.emcare.com.
Forward-Looking Statements
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.
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