Business Services Industry
EMSC Announces National Provider Agreement with Universal Health Services; New Ambulance Contract in Monterey, Calif
Business Wire, July 28, 2008
GREENWOOD VILLAGE, Colo. -- Emergency Medical Services Corporation (NYSE: EMS) (the "Company") today announced that it has entered into an agreement as a national provider of hospital-based physician services (emergency department, hospitalist and radiology), and ground and fixed-wing air ambulance transportation services to Universal Health Services, Inc. ("UHS") facilities. UHS is one of the nation's leading healthcare management companies, and through its subsidiaries, owns and operates more than 154 acute care hospitals, behavioral health centers, surgical hospitals, ambulatory surgery centers and radiation oncology centers.
Under the agreement, UHS facilities may contract for services individually with one or more EMSC company, including EmCare Inc., American Medical Response, Inc., and Air Ambulance Specialists, Inc. UHS facilities will benefit from preferred pricing for certain services provided under the expanded relationship.
William A. Sanger, EMSC Chairman and Chief Executive Officer, said, "We are very pleased with our new arrangement with UHS. EmCare has been a contracted service provider to UHS for 10 years. This agreement further demonstrates the value we can provide to healthcare facilities through EMSC's broad scale and scope of services. Over time, we hope to increase both the number of UHS facilities we serve and the breadth of services to each."
In a separate agreement, the Company announced that its American Medical Response (AMR) segment has entered into an agreement with Monterey County, California, to provide 9-1-1 emergency and non-emergency ambulance services. The one-year agreement, which commences September 1, 2008, is expected to contribute approximately 19,000 transports and $15 million in new revenue.
About Emergency Medical Services Corporation
Emergency Medical Services Corporation (EMSC) is a leading provider of emergency medical services in the United States. EMSC operates two business segments: American Medical Response, Inc. (AMR), the Company's healthcare transportation services segment, and EmCare Holdings, Inc. (EmCare), the Company's emergency department and hospital-based management services segment. AMR is the leading provider of ambulance services in the United States. EmCare is the nation's leading provider of outsourced emergency department staffing and related management services. In 2007, EMSC provided services to 10.6 million patients in more than 2,000 communities nationwide. EMSC is headquartered in Greenwood Village, Colorado.
Forward-Looking Statements
Certain statements and information herein may be deemed to be "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, but are not limited to, statements relating to our objectives, plans and strategies, and all statements (other than statements of historical facts) that address activities, events or developments that we intend, expect, project, believe or anticipate will or may occur in the future. Any forward-looking statements herein are made as of the date of this press release, and EMSC undertakes no duty to update or revise any such statements. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Important factors that could cause actual results, developments and business decisions to differ materially from forward-looking statements are described in EMSC's filings with the SEC from time to time, including in the section entitled "Risk Factors" in the Company's most recent Form 10-K. Among the factors that could cause future results to differ materially from those provided in this press release are: the impact on our revenue of changes in transport volume, mix of insured and uninsured patients, and third party reimbursement rates; potential penalties or changes to our operations if we fail to comply with extensive and complex government regulation of our industry; and the loss of existing contracts and the accuracy of our assessment of costs under new contracts.
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