Emergency Medical Services Acquires Anesthesia Company in Florida
12 January 2011 - 2:08AM
Business Wire
Emergency Medical Services Corporation (NYSE: EMS) (The Company)
today announced that its EmCare segment has acquired North Pinellas
Anesthesia Associates and Northwood Anesthesia Associates (North
Pinellas/Northwood), an anesthesia provider based in Tampa,
Florida. Founded in 1983, North Pinellas/Northwood has
approximately 40 clinicians and provides outsourced anesthesia
services to two hospitals and seven ambulatory surgical centers in
Tampa, Fla. North Pinellas/Northwood will continue to operate under
its present brand as part of EmCare’s anesthesia services group,
AnesthesiaCare. The Company expects that the acquisition will
contribute approximately $15 million in annual net revenue.
William A. Sanger, EMSC Chairman and Chief Executive Officer,
said, “North Pinellas/Northwood has been a leader for decades in
providing quality patient care and exceptional client service in
Pinellas County. This acquisition provides us with a solid platform
for continued growth in the anesthesia services market. This
transaction is consistent with our strategy of partnering with
quality providers to expand our presence in individual service
lines and increase our opportunities for growth through
cross-selling.”
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.
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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