Key Developments: Air Methods Corp (AIRM.O)

AIRM.O on Nasdaq

30 Sep 2014
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Latest Key Developments (Source: Significant Developments)

Air Methods Corp Enteres Into Agreements To Purchase 20 Bell 407s, 10 Eurocopter EC130s, Six Eurocopter AS350s, And Six Eurocopter EC135s
Friday, 21 Dec 2012 11:00am EST 

Air Methods Corp announced it has entered into agreements to purchase 20 Bell 407s, 10 Eurocopter EC130s, six Eurocopter AS350s, and six Eurocopter EC135s. These new aircraft will directly support Air Methods' commitment to maintaining a modern air medical fleet as well as future growth opportunities. Delivery of the aircraft will start in 2013 and continue into 2015. Terms of the transaction were not disclosed.  Full Article

Air Methods Corp Announces Agreement to Acquire Sundance Helicopters, Inc.
Friday, 21 Dec 2012 08:00am EST 

Air Methods Corp announced tday that it has entered into a definitive stock purchase agreement to acquire all of the outstanding shares of capital stock 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 operates a fleet of 22 helicopters consisting of Eurocopter AS350s and EC130s, and has 150 employees. Air Methods will acquire Sundance for an aggregate purchase price of $44 million in cash on a debt-free basis, subject to working capital and other adjustments as provided in the stock purchase agreement. Air Methods believes this acquisition will be accretive to earnings per share. Upon closing, Sundance will become a wholly owned subsidiary of Air Methods. The transaction is contingent upon certain closing conditions described in the stock purchase agreement and the aircraft sale and purchase agreement, and the transaction is expected to close December 31, 2012.  Full Article

Air Methods Corp Declares Special Cash Dividend
Monday, 10 Dec 2012 05:10pm EST 

Air Methods Corp announced that board of directors has declared a special cash dividend of $7.00 per share (on a pre-split basis) on the Company's common stock, payable on December 28, 2012 to stockholders of record at the close of business on December 20, 2012. The Company intends to fund the special cash dividend with available cash and additional borrowings under its senior credit facility. The Company anticipates amending its senior credit facility by adding a new term loan facility of up to $100 million prior to payment of the cash dividend.  Full Article

Air Methods Corp Receives Contract to Provide Services to St. Mary's Hospital CareFlight
Monday, 12 Nov 2012 01:00pm EST 

Air Methods Corp announced that it was selected as the air medical operator and began service for St. Mary's Hospital and Regional Medical Center's CareFlight program in Grand Junction, Colorado. Under the new agreement effective November 1, 2012 Air Methods operates a Eurocopter AS350 helicopter based at the main hospital campus, and a Beechcraft King Air airplane based at Grand Junction Regional Airport. Air Methods employs the assigned pilots and mechanics and provides communications services for the program through its national Communications Center. In 1980, the St. Mary's air medical program went into service with a new Bell 206-L1 helicopter. Mr. Roy Morgan, Air Methods' founder, was the pilot who flew the first St. Mary's air medical team and Air Methods' first patient, the same day the program went into service.  Full Article

Air Methods plans expansion as helicopter tourism takes off

- Two years after it began flying tourists over the Grand Canyon, Air Methods Corp is looking to expand its U.S. travel business as a lucrative sideline to its air ambulance services.

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