Emergency Medical reviewing strategic options
GREENWOOD VILLAGE, Colo. (AP) — Ambulance services provider Emergency Medical Services Corp. said Tuesday that it is reviewing strategic alternatives for the company, but did not provide details on its potential options.
The company said it will not disclose developments from the review unless the board of directors approves a specific transaction or concludes the review.
On Dec. 6, the company said it would buy Doctor's Ambulance Service, which holds emergency-service contracts in Orange County, Calif. The company did not disclose the terms of the deal but said the purchase would add $18 million a year in annual revenue.
Emergency Medical had revenue in 2009 of $654.3 million. Its American Medical Response offers ambulance service in 38 states and Washington, D.C. The company also owns EmCare, an outsourced physician-services business.
Shares of Emergency Medical surged $9.29, or 17.3 percent, to $63.15 in afternoon trading. The stock earlier reached a 52-week high of $64.33.