Omniflight Helicopters Inc., an Addison, Texas–based provider of air medical services, has agreed to sell its its Rescue Air 1 operations in the Atlanta area to Air Methods Corp. (Nasdaq: AIRM). No financial terms were disclosed. Omniflight is a portfolio company of Wind Point Partners.
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PRESS RELEASE
Omniflight Helicopters, Inc., a leading national provider of air medical services, announced today that it has entered into a definitive agreement with Air Methods Corporation (NasdaqGS: AIRM) to sell its Rescue Air 1 operations in the Atlanta, Ga. area. Following the closing, which is expected to occur on February 1, 2009, Omniflight will continue to operate three of its existing helicopter bases under the Rescue Air 1 name in the Atlanta region pursuant to a traditional base arrangement with Air Methods. Omniflight’s base in Savannah, Ga. will be unaffected by this transaction.
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Upon the consummation of the transaction, the current operating bases of Omniflight and Air Methods in the Atlanta region will be consolidated into six bases, to be located in Covington, Gainesville, Griffin, Kennesaw, Newnan and a sixth base serving the I-75 and I-575 corridors. All six bases will utilize the services of Air Methods medical personnel, although efforts will be made to identify Omiflight medical personnel who might fit into the combined operation. Three bases will operate under the Emory Flight name currently utilized by Air Methods, and the related pilots and mechanics will be employed by Air Methods. The other three bases will operate under the Rescue Air 1 name, currently utilized by Omniflight, with aviation services being provided by Omniflight pursuant to a traditional base arrangement with Air Methods. All six bases will operate Eurocopter AS350 single-engine aircraft. Â
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“We believe that this transaction with Air Methods is in the best interests of both companies and will prove to be beneficial to the Atlanta marketplace,” said Robert A. Peiser, chairman and chief executive officer of Omniflight. Peiser added that: “The transaction will result in increased utilization of assets which will help ensure the continuity of quality air medical services and allow both companies to further enhance their services to the medical institutions and patients we will continue to serve in the Atlanta region.”
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Omniflight Helicopters, Inc. is a leading provider of air medical services throughout the U.S. The company operates 100 aircraft nationally and operates from 72 bases in 18 states, with a strong presence across the Southwest, Midwest and Southeast regions as well as certain Mountain State areas. Its focus is primarily on inter-facility and on-site emergency scene response using both rotor and fixed-wing aircraft. For more information, please visit www.omniflight.com.
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