Emergency Medical Services Corporation announced that it has completed its acquisition of the anesthesia services companies associated with Clinical Partners, P.A. (CPPA). AnesthesiaCare has been providing management services to CPPA providers since purchasing management services and billing entities from CPPA in 2008. The CPPA anesthesia services companies are now a part of AnesthesiaCare.
The transaction was completed on June 4, 2010, and the associated contracts are expected to contribute annual net revenue of $80 million.
The Company also announced that it has completed its acquisition of Gold Coast Ambulance Service, based in Oxnard, California. The transaction was completed on May 28, 2010. Now a wholly owned subsidiary of American Medical Response, Gold Coast provides emergency and non-emergency ambulance services in southwest Ventura County. The Company expects the acquisition to contribute approximately $8 million in annual net revenue and approximately 18,000 transports. AMR and Gold Coast Ambulance will continue to operate under their respective brands in the Ventura County market.
William A. Sanger, EMSC Chairman and Chief Executive Officer, said, "These acquisitions support our strategies to expand medical transportation services into contiguous markets, and to grow our service lines to meet increasing demand for outsourced facility-based physician services."
