Air Methods Acquiring Omniflight

 - June 27, 2011, 4:50 AM

Air Methods is continuing to expand through aggressive acquisitions. Last month the largest helicopter EMS company in the U.S. announced it is acquiring the parent of competitor Omniflight for $200 million. Omniflight operates 100 aircraft from 75 bases in 18 states and is headquartered in Addison, Texas. Last year it posted revenues of $172 million. Air Methods operates a fleet of 300 aircraft nationwide. Over the last year its stock price has more than doubled and in 2010 the company posted revenues of $562 million, a 9-percent increase over 2009; net income increased by 52 percent, to $44.1 million. Air Methods’ past acquisitions include its 2007 purchase of CJ Systems and its 113-helicopter fleet for $25 million cash plus debt assumption. In 2009, Air Methods acquired Omniflight’s Rescue Air operations in Atlanta and North Georgia.