Guess they have a new PR firm
Air Methods Announces Revenue From Community-Based Model Exceeded Revenue From Hospital-Based Programs in 2Q2000
DENVER, Aug. 1 /PRNewswire/ -- Air Methods Corporation (Nasdaq: AIRM) stated that revenue from its community-based operations exceeded revenue from its hospital-based programs for the first time ever during the second quarter ended June 30, 2000. Air Methods' subsidiary, Mercy Air Service, Inc. (Mercy Air), generated over $8.9 million in consolidated revenue from its community- based operations during the second quarter. This compares with approximately $8.4 million from the company's hospital-based programs.
Beginning with the Mercy Air (southern California) acquisition in July 1997, and expanding with the acquisition of ARCH Air Medical Service, Inc. (St. Louis region) in April 2000, Air Methods has established the community-based model for delivery of air medical services within select markets. Following each acquisition, the company has and will continue to aggressively expand these regional hubs into surrounding markets. Achievement of substantial operating efficiencies within these markets has significantly improved Air Methods' overall profitability as well.
George Belsey, Air Methods' Chairman and CEO, stated, "Having achieved this significant milestone in less than three years of community-based operations represents a major accomplishment for our company. We have proven our ability to successfully expand this new model through both acquisition and organic growth, while continuing to grow and maintain the strength of our hospital-based operations. We remain committed to providing the highest quality services to the communities we serve under both operating models. With both operations generating strong results, we are better able to respond to the ever-changing air medical transportation industry." |
