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AIR METHODS TO ACQUIRE AMERICAN AIR AMBULANCE

 AIR METHODS TO ACQUIRE AMERICAN AIR AMBULANCE
 DENVER, April 21 /PRNewswire/ -- Air Methods Corp. (NASDAQ: AIRM)


has agreed in principle to acquire American Air Ambulance Inc. ("AAA"), one of the nation's leading, totally dedicated providers of fixed wing (airplane) emergency medical transportation services to hospitals throughout the United States.
 American Air Ambulance has pioneered the establishment of aeromedical hospital "consortium" programs on a national basis. AAA provides emergency medical services simultaneously to several large medical facilities collectively located in a single metropolitan center, such as in Seattle; Minneapolis-St. Paul; and Dallas/Ft. Worth. AAA has also established preferred provider aeromedical services to the emerging managed healthcare marketplace through its relationships with the Prudential Insurance Corp. of America and Critical Case Management Division of Humana Hospitals Inc.
 Air Methods intends to acquire American Air Ambulance via a tax free reorganization involving the issuance of e transaction will be consummated following the execution of a definitive exchange agreement by the parties, possibly within the next 60 days. Immediately following the closing, AAA will be merged into Air Methods with AAA continuing its operations as Air Method's expanded fixed wing division.
 Founded in 1987, and headquartered in Dallas, AAA's annualized unaudited growth rate from 1989 to date has exceeded 75 percent. In addition, AAA maintains comprehensive long term service agreements with 13 hospitals in five states. AAA operates a fleet of seven airplanes and three jet aircraft to support these arrangements. AAA expects to generate revenues for the year ending June 30, 1992 of over $6 million. In addition, all current AAA officers have expressed their desire to continue in their operating capacities with Air Methods including B. Jason Harwell, president of AAA, and Rod L. Crane, senior vice president-consortium management services.
 W. Terrance Schreier, chairman and CEO, further explained, "American Air Ambulance is an acknowledged quality provider of fixed wing aeromedical transportation services to hospitals throughout America. As large numbers of hospitals increasingly consolidate their trauma and highly specialized care centers into large specialized healthcare facilities throughout the 1990's, the demand for integrated aeromedical providers, such as Air Methods and American Air Ambulance, employing jet aircraft, helicopters and airplanes on an integrated basis will significantly increase. This strategic acquisition allows Air Methods and AAA to collectively accelerate our growth in the emerging hospital aeromedical 'consortium' and managed healthcare markets."
 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. The company utilizes only IFR-certified pilots and aircraft, including 24 helicopters and five 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 level I trauma center or a tertiary care facility, either from outlying hospitals or the scene of an accident.
 -0- 4/21/92
 /CONTACT: W. Terrance Schreier, Roy L. Morgan or William H. Critchfield all of Air Methods, 303-790-0587/
 (AIRM) CO: Air Methods Corp.; American Air Ambulance Inc. ST: Colorado IN: HEA AIR SU: TNM


BB -- DV002 -- 0393 04/21/92 08:57 EDT
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Publication:PR Newswire
Date:Apr 21, 1992
Words:511
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