Air Methods Closes Acquisition of Sundance Helicopters, Inc.
December 31 2012 - 4:01PM
Air Methods Corporation (Nasdaq:AIRM), the global leader in air
medical transportation, announced today that it has successfully
completed its acquisition of Sundance Helicopters, Inc. (Sundance),
a helicopter tour operator based in Las Vegas, Nevada. Sundance is
a leader in helicopter tour operations, focusing primarily on Grand
Canyon helicopter tours, but also providing helicopter services to
support fire fighting, natural resource agency operations, vertical
lifts, aerial photography/motion pictures, news gathering, and
aerial surveying. Sundance generated consolidated revenue of
approximately $52.3 million for the fiscal year ended March 31,
2012.
Aaron Todd, the Company's chief executive officer, stated, "Air
Methods is very pleased to have completed all the necessary steps
to close our acquisition of Sundance within our original
expectation. We continue to believe that the key aviation
adjacencies associated with this acquisition will position us well
for success not only in the tour operations market, but also the
fire fighting, natural resource agency operations, vertical lifts,
aerial photography, news gathering, and aerial surveying helicopter
sectors. We look forward to Sundance joining the Air Methods
family."
Air Methods Corporation (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
for hospitals and one of the largest community-based providers of
air medical services. United Rotorcraft Division specializes in the
design and manufacture of aeromedical and aerospace technology. Air
Methods' fleet of owned, leased or maintained aircraft features
over 400 helicopters and fixed wing aircraft.
Forward Looking Statements: Forward-looking
statements in this news release are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Statements in this press release that are "forward-looking
statements", including statements regarding the Company's ability
to realize key aviation adjacencies associated with the
acquisition, are based on current expectations and assumptions that
are subject to risks and uncertainties. Actual results could differ
materially from those currently anticipated due to a number of
factors, including but not limited to, entry into a new industry,
changes to general, domestic and foreign economic conditions; the
size, structure and growth of the Company's air medical services
and United Rotorcraft Division; the collection rates for patient
transports; the continuation and/or renewal of air medical service
contracts; the anticipated impact from the Company's internal
reorganization; extreme weather conditions across the U.S.;
development and changes in laws and regulations, including, without
limitation, the impact of the Patient Protection and Affordable
Care Act; increased regulation of the health care and aviation
industry through legislative action and revised rules and
standards; and other matters set forth in the Company's filings
with the SEC. The Company is under no obligation (and expressly
disclaims any obligation) to update or alter its forward-looking
statements, whether as a result of new information, future events
or otherwise.
The Air Methods Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6955
Please contact Christine Clarke at (303) 792-7579 to be included
on the Company's fax and/or mailing list.
CONTACT: Trent J. Carman
Chief Financial Officer
(303) 792-7591
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