Buyer targets Rocky Mountain Holdings

 - May 15, 2008, 11:17 AM

The shareholders of Rocky Mountain Holdings of Provo, Utah, signed a non-binding letter of intent last month with an unnamed buyer, said to be another aeromedical operator, for the purchase of RMH. The terms of the letter require both sides to remain silent until a definitive agreement is reached (estimated to take about 30 days) or the discussions are terminated. Rocky Mountain supports 79 helicopters and six airplanes flying for 177 hospitals and medical centers in 30 U.S. states and Puerto Rico.