Air Methods Awarded New Contract in Iowa; New Contract in Sioux City With Extensions in Des Moines and Mason City
DENVER, Aug. 14 /PRNewswire/ -- Air Methods Corporation (Nasdaq: AIRM) announced today it has expanded the operation of its Air Medical Services Division in the State of Iowa with the Mercy Health Network.
As part of the new agreement, Air Methods will begin operations in Sioux City, Iowa at the Mercy Medical Center beginning November 7. Additionally, Air Methods received contract extensions at existing operations at the Mercy Medical Center in Des Moines and the Mercy Medical Center North Iowa in Mason City.
Neil Hughes, Vice President of the Air Medical Services Division, said, "We are pleased to continue our longstanding relationship with the Mercy Health Network and increasing our role of providing the highest quality aeromedical services to the residents of Iowa as well as the surrounding states. The expansion of our operations into Sioux City is a direct result of our record of service in Des Moines and Mason City, and clearly demonstrates the partnership we have developed over many years with the Mercy Health Network."
Air Methods currently operates a Bell 222 aircraft in Des Moines and a Bell 206 in Mason City. Under the new agreement, Air Methods will also operate an Eurocopter BK-117 in Sioux City.
George Belsey, Chairman and CEO, said, "This agreement extends Air Methods' position as the largest publicly-traded provider of air medical services and brings the total number of aircraft in operation to 65. Additional hospital-based contracts, such as this in Iowa, add more predictable revenue and cash flow to our operations due to lesser effects from weather and other variables, and help provide additional consistency to our operations as we simultaneously build our community-based operations in strategically appropriate regions of the country." |
