Air Methods to Acquire Omniflight's Atlanta and North Georgia Operations

DENVER -- Air Methods Corporation, an air medical transportation company, announces the Company has entered into a definitive purchase agreement to acquire Omniflight Inc.'s Rescue Air operations in Atlanta and North Georgia. The transfer of ownership is expected to occur on Feb. 1, 2009. The purchase price to be paid is based on a risk-sharing model and is contingent on results of future operations. The consolidation is expected to support the long-term viability of these critical air medical services through realized efficiencies from base combinations.

Effective as of the closing date, the current operating bases of Air Methods and Rescue Air 1 will be consolidated into six, to be located in Covington, Gainesville, Griffin, Kennesaw, Newnan, and a sixth base serving the I-75 and I-575 corridors. Under the transaction agreements, the medical personnel at all six bases will be employed by Air Methods. Three bases will operate under the Emory Flight name currently utilized by Air Methods, and the related pilots and mechanics will be employed by Air Methods. The other three bases will operate under the name Rescue Air, and Air Methods will contract with Omniflight for the aviation services at these three locations. All six bases will operate Eurocopter AS350 single-engine aircraft.

"We are excited by the opportunity to realize greater efficiencies in providing air medical services to the Atlanta and North Georgia communities," says Aaron Todd, Chief Executive Officer, Air Methods. "Increased utilization of these expensive assets and professional personnel will help ensure the continuation of quality air medical services for years to come by improving these programs' combined viability."

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