A private-equity group will buy Emergency Medical Services Corp., the parent company of American Medical Response, which has the contract for emergency medical services in El Paso County. EMSC is based in Greenwood Village, Colo.
New York-based Clayton, Dubilier & Rice LLC will complete the $3.2 billion transaction next quarter, at which time EMSC will become a privately held company. When the transaction closes, EMSC stockholders will receive $64.00 in cash for each share of EMSC Class A common stock and Class B common stock and each LP Exchangeable Unit.
EMSC’s board of directors unanimously approved the terms of the merger, recommending that EMSC stockholders also approve the transaction.
Toronto-based Onex Corp. and its affiliates, which formed EMSC, have sufficient voting power to approve the merger, and have agreed to vote in favor of adoption of the merger agreement, according to a CD & R press release.
Founded in 2005, EMSC operates EmCare Holdings Inc. – the largest provider of emergency department and facility-based physician services in the United States – as well as AMR, the largest provider of health care transportation in the nation.
Last year, EMSC provided services nationwide to about 14 million patients in more than 2,200 communities.