Air Methods Expands Its Hospital-Based Operations
04/07/05
DENVER, April 7, 2005 /PRNewswire-FirstCall via COMTEX/ -- Air Methods Corporation (Nasdaq: AIRM) announced today that it has expanded its hospital-based operations within Arizona, Colorado, Minnesota, North Carolina, Oklahoma, Tennessee, Utah, Virginia and West Virginia. Each of these operations is an expansion of an existing contractual arrangement with Air Methods. Over the past two quarters, the Company has added five bases and expects to complete the expansion of four more by the end of the month. In total, the Company will deploy nine additional operating aircraft in this expansion of its hospital-based programs and will realize additional annual revenues from these initiatives. It is anticipated that all of the additional operating aircraft will be in service by the end of April 2005.
Neil Hughes, Senior Vice President of the Air Medical Services Division, stated, "We are excited and extremely pleased with these nine new expansion opportunities. It is gratifying to be able to expand our hospital-based programs nationwide with these critically important institutions in their respective communities. Each of these hospital flight programs has contributed immeasurably to the quality of life for thousands of citizens, and we are proud to be partners in that endeavor."
Air Methods Corporation (www.airmethods.com) is a leader in emergency aeromedical transportation, medical services and technology. The Air Medical Services Division is the largest provider of air medical transport services for hospitals. The LifeNet Division is the largest community-based provider of air medical services. The Products Division specializes in the design and manufacture of aeromedical and aerospace technology. The Company's fleet of owned, leased or maintained aircraft features over 180 helicopters and fixed wing aircraft.
Forward Looking Statements: This news release includes certain forward-looking statements, which are subject to various risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors, including but not limited to the size, structure and growth of the Company's air medical services and products markets; the collection rates for patient transports; the continuation and/or renewal of air medical service contracts; the acquisition of profitable Products Division contracts and other flight service operations; the successful expansion of the community-based operations; and other matters set forth in the Company's public filings.
CONTACTS: Aaron D. Todd, Chief Executive Officer, (303) 792-7413, or Joe Dorame or Robert Blum of The RCG Group, Inc. at (480) 675-0400. Please contact Christine Clarke at (303) 792-7579 to be included on the Company's fax and/or mailing list.
SOURCE Air Methods Corporation
Aaron D. Todd, Chief Executive Officer of Air Methods Corporation, +1-303-792-7413, or Joe Dorame, or Robert Blum, both of The RCG Group, Inc., +1-480-675-0400, for Air Methods Corporation, or to be included on the Company's fax and
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