Rural/Metro Awarded Exclusive Ambulance Contract Renewal for Fort Worth and Surrounding Communities; Contract Valued at Approximately $70 Million Over Six Years.Business Editors SCOTTSDALE, Ariz.--(BUSINESS WIRE)--April 24, 2003 Rural/Metro Corporation (Nasdaq:RURL), the nation's leading provider of private ambulance and firefighting 1. firefighting - What sysadmins have to do to correct sudden operational problems. An opposite of hacking. "Been hacking your new newsreader?" "No, a power glitch hosed the network and I spent the whole afternoon fighting fires." 2. services, announced today it has been awarded the exclusive renewal contract to continue providing emergency and non-emergency ambulance service in Fort Worth, Texas Fort Worth is the fifth-largest city in the state of Texas, 18th-largest city in the United States[1], and voted one of "America’s Most Livable Communities. , and 12 surrounding communities. The contract is valued at approximately $11.6 million annually and begins on Aug. 1, 2004. It was awarded Wednesday upon a unanimous vote of the Fort Worth Area Metropolitan Ambulance Authority Board of Directors. The agreement provides for an initial term of one year, and includes five, one-year, optional renewals thereafter, for a total possible length of six years. Rural/Metro began serving the Fort Worth metropolitan area in 1999. Jack Brucker, president and chief executive officer, said, "Our consistent track record for renewing significant EMS contracts demonstrates our high level of commitment to the communities we serve. We are very pleased to continue to provide Fort Worth and its surrounding communities with superior medical transportation services." Rural/Metro's fixed-price contract is based on a high-performance Public Utility Model, which means the Fort Worth Area Metropolitan Ambulance Authority administers the agreement and service under the trade name MedStar. The Authority procures equipment, manages administrative expenses, and handles billing and collections. Under then new agreement, the Authority also will take responsibility for the procurement of vehicles and fleet maintenance. The contract includes the cities of Fort Worth, Burleson, Forest Hill, Haltom City, Haslet has·let also hars·let n. The heart, liver, and other edible viscera of an animal, especially hog viscera. [Middle English hastelet, from Old French, diminutive of haste, , Lakeside, Lake Worth, River Oaks, Saginaw, Sansom Park, Westover Hills, White Settlement and Westworth Village. The communities are home to more than 850,000 citizens and generate about 65,000 emergency medical transports annually. Boo Heffner, president of Rural/Metro's West Emergency Services emergency services Emergency care '…services …necessary to prevent death or serious impairment of health and, because of the danger to life or health, require the use of the most accessible hospital available and equipped to furnish those services' Group, said, "We have forged an excellent relationship with the city of Fort Worth and its neighboring neigh·bor n. 1. One who lives near or next to another. 2. A person, place, or thing adjacent to or located near another. 3. A fellow human. 4. Used as a form of familiar address. v. communities over the past four years and look forward to serving the ambulance needs of the citizens for many years to come. We take great pride in our experienced team of EMS professionals and the vital role they play in the area's overall emergency response system." During Rural/Metro's first four years of service to the Fort Worth area, it has gained accreditation for the MedStar system from two national organizations. In 2001, Rural/Metro-Medstar won accreditation from the Commission on Accreditation of Ambulance Services, which is awarded only to ambulance systems that achieve the highest quality standards in the industry. In 2002, the National Academy of Emergency Medical Dispatch named Rural/Metro-Medstar's communications center An agency charged with the responsibility for handling and controlling communications traffic. The center normally includes message center, transmitting, and receiving facilities. Also called COMCEN. See also telecommunications center. an Accredited accredited recognition by an appropriate authority that the performance of a particular institution has satisfied a prestated set of criteria. accredited herds cattle herds which have achieved a low level of reactors to, e.g. Center of Excellence. Rural/Metro Corporation provides emergency and non-emergency medical transportation, fire protection, and other safety services in approximately 400 communities throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Except for historical information herein, this press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, among others, the ability to sustain operating cash flow Operating cash flow Earnings before depreciation minus taxes. Measures the cash generated from operations, not counting capital spending or working capital requirements. ; secure new contracts; retain existing contracts; improve operating margins; and maintain compliance with covenant and other requirements of its credit facility. The Company disclaims any obligation to update its forward-looking statements. |
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