By combining with Air Methods, we will be able to serve even more patients across our footprint.
Denver, CO (PRWEB) November 09, 2015
Holland & Hart LLP represented long-standing client Air Methods Corporation in successfully negotiating a definitive agreement to acquire Tri-State Care Flight (“Tri-State”) for $222.5 million, which was announced Nov. 5 in a joint press release. The acquisition is subject to customary closing and regulatory conditions. The transaction is expected to close in 30 to 60 days.
Founded in 2002, Tri-State is a critical care transport provider servicing Arizona, New Mexico, Nevada, and Colorado. Tri-State generated net revenue of $81.5 million for the fiscal year ended Dec. 31, 2014. Dr. Blake Stamper, founder and managing member of Tri-State, said, “As a global leader in air medical transport services, Air Methods shares our commitment to superior customer service and the best clinical outcomes for patients in need. By combining with Air Methods, we will be able to serve even more patients across our footprint. We are confident that this will be a seamless transition for our employees, patients and other stakeholders.”
Aaron Todd, chief executive officer of Air Methods, expressed that this transaction “represents an opportunity to integrate best practices and further extend Air Methods’ commitment to quality, patient outcomes, and safety. We look forward to welcoming Tri-State to the Air Methods team.”
Holland & Hart’s multidisciplinary team was led by corporate transactional lawyers Chris Balch, together with James Crowe and Patty Pogge. Subject matter expertise and support was provided by Matt Smith, Mark Wiletsky, Elizabeth Mitchell, Kevin Selzer, Rebecca Hudson, Peter Perla, and Craig Willis, among others.
About Holland & Hart
Holland & Hart LLP delivers integrated legal solutions to regional, national, and international clients of all sizes. Since its inception in 1947, Holland & Hart’s approximately 500 lawyers have consistently been recognized by leading national and international peer and industry review organizations for innovation and dedication to the practice of law. For the fifth consecutive year, the firm was named to BTI Consulting's list of Most Recommended Law Firms by corporate counsel. For more information, visit http://www.hollandhart.com.
About Air Methods
Air Methods Corporation (http://www.airmethods.com) is the global leader in air medical transportation. The Air Medical Services Division is the largest provider of air medical transport services in the United States. The United Rotorcraft Division specializes in the design and manufacture of aeromedical and aerospace technology. The Tourism Division is comprised of Sundance Helicopters, Inc. and Blue Hawaiian Helicopters, which provides helicopter tours and charter flights in the Las Vegas/Grand Canyon region and Hawaii, respectively. Air Methods’ fleet of owned, leased or maintained aircraft features over 450 helicopters and fixed wing aircraft.