EMSC Enters Anesthesiology Outsourcing Market
Monday, August 04, 2008 10:35 AM
Symbols: EMS

Emergency Medical Services Corporation (NYSE: EMS) (the “Company”) today announced that it has entered into an agreement to acquire the management services entity of Clinical Partners, P.A. (CPPA), a provider of anesthesiology services, as well as an associated billing company. Upon closing, the management entity will enter into a long-term agreement to provide management services to CPPA, and the Company anticipates that the acquisitions will contribute approximately $7 million in annual management services revenue. CPPA provides anesthesiology services to more than 35 hospitals in six states with annual provider revenues of approximately $85 million.

The purchase agreement was entered into effective on July 31, 2008 and is expected to close within 30 days, subject to customary closing conditions. Upon completion of the transaction, the two new entities will become subsidiaries of EmCare, Inc., (EmCare), and will provide anesthesiology practice management services to hospitals which will include recruitment of physicians and certified registered nurse anesthetists, risk management, billing and collection, and other services.

William A. Sanger, EMSC Chairman and Chief Executive Officer, said, “This acquisition further supports our strategy to expand into new markets and services which we believe complement our core competencies and have strong growth potential. We are pleased to respond to market demand by expanding our lines of service to existing and new clients to help them provide high-quality anesthesia services for their patients.”

Upon closing, Dr. Harold Bolnick, owner of CPPA, will become Chief Medical Officer of EmCare’s newly formed anesthesiology services division, and Jim McKinney, currently CEO and President of CPPA’s management services entity, will join EmCare as the division’s CEO.

Dr. Bolnick said, “We look forward to working with EmCare and EMSC to expand services in the growing anesthesiology market. EMSC’s broad national footprint will afford opportunities to reach new markets across the nation.”

About Emergency Medical Services Corporation

Emergency Medical Services Corporation (EMSC) is a leading provider of emergency medical services in the United States. EMSC operates two business segments: American Medical Response, Inc. (AMR), the Company’s healthcare transportation services segment, and EmCare Holdings, Inc. (EmCare), the Company’s emergency department and hospital-based management services segment. AMR is the leading provider of ambulance services in the United States.


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