Air Methods to Acquire OF Air Holdings Corporation (Omniflight)

The largest air medical transportation company in the world, Air Methods Corporation, announced on June 2, 2011 that it has entered into a definitive merger agreement to acquire OF Air Holdings Corporation and its subsidiaries, including Omniflight Helicopters, Inc. Omniflight provides air medical transport services throughout the United States and provides these services under both the community-based and hospital-based service delivery models, utilizing a fleet of about 100 helicopters and fixed-wing aircraft. Omniflight is headquartered in Addison, Texas, with operations in 18 states involving more than 75 base locations. Air Methods will acquire Omniflight for $200 million in cash. Upon closing, Omniflight will become a wholly-owned subsidiary of Air Methods. The agreement has been approved by the boards of directors of both companies. The transaction is expected to close in July 2011.

“The operational efficiencies that this combination should create will allow both entities to maintain and enhance the quality of our services, while providing for a more competitive cost structure resulting from greater economies of scale,” Aaron Todd, CEO for Air Methods, says. “The geographical service areas of both entities are very complementary and improve the combined entity’s ability to maintain important resources closer to our customers and their communities.” MORE ONLINE

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