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AIR METHODS SUCCESSFULLY COMPLETES CONVERSION OF 1987 PUBLICLY TRADED COMMON STOCK PURCHASE WARRANTS

 DENVER, June 18 /PRNewswire/ -- Air Methods Corp. (AMEX: ARF.EC) today estimated that more than 90 percent of its publicly traded common stock purchase warrants, originally issued in connection with the company's 1987 initial public offering, have been exercised. This warrant conversion activity culminated in the realization of an additional $3 million in available working capital for the company. The proceeds realized from this warrant conversion will be used to fund additional working capital needs of the company, and to the extent practicable, retire a portion of its long-term debt.
 W. Terrance Schreier, chairman and chief executive officer, noted that, "This significantly high level of warrant exercise activity is indicative of the increased confidence which investors have shown in the company. Furthermore, the attainment of a greater than 90 percent conversion of the company's publicly traded warrants is in keeping with its dramatic growth prospects."
 Air Methods is the largest exclusive provider of state-of-the-art emergency air medical transportation systems and services to hospitals throughout the United States. Air Methods now serves 43 hospitals in 12 states under 19 dedicated long-term operating agreements. The company utilizes only IFR-certified pilots and aircraft, including 26 helicopters and four airplanes, to perform these services. In addition, Air Methods offers completely integrated airborne medical systems for administering intensive care to patients while flying to a trauma center or a tertiary care facility, either from outlying hospitals or the scene of an accident.
 -0- 6/18/93
 /CONTACT: W. Terrance Schreier or William H. Critchfield of Air Methods, 303-790-0587/
 (ARF)


CO: Air Methods Corp. ST: Colorado IN: AIR HEA SU:

BB -- DV001 -- 3413 06/18/93 08:00 EDT
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Publication:PR Newswire
Date:Jun 18, 1993
Words:273
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