Emergency Medical Services to Acquire Ambulance Company
Emergency Medical Services Corporation (NYSE: EMS) today announced that its American Medical Response segment has entered into a definitive agreement to acquire Doctor's Ambulance Service.
Founded in 1974, Doctor's provides emergency and non-emergency ambulance services in Orange County, California. Doctor's currently holds eleven 9-1-1 contracts across Orange County, and transports approximately 32,000 patients annually. Upon completion of the transaction, Doctor's will become a wholly owned subsidiary of American Medical Response and will continue to operate under the Doctor's brand.
The transaction is expected to close within 90 days subject to regulatory approvals and customary closing conditions. The Company expects that the acquisition will contribute approximately $18 million in annual net revenue.
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