MVP News
Med-Trans To Assume Operations For Aerocare Air Medical Services
10/15/2009
Brockway Moran & Partners (Brockway Moran) and MVP Capital Partners (MVP) announced, through their investment in Air Medical Group Holdings, Inc. (AMGH), that AMGH’s Med-Trans Corporation subsidiary has entered into an agreement with Covenant Health System for the purchase of its AeroCare air medical program, based out of Lubbock, Texas. According to the agreement, expected to become effective October 15, Med-Trans will assume ownership and overall management of AeroCare, including all aviation and air medical services in Lubbock and Clovis, New Mexico. Craig Rhyne, M.D., will continue to serve as the program’s medical director.
“We are proud to transition the AeroCare program through partnership with a top-quality air medical leader, and, as such, look forward to continuing to work closely with Med-Trans,” said Brett Esrock, chief operating officer, Covenant Health System. “This transition allows us to not only ensure the long-term sustainability of the program for residents throughout our West Texas and Eastern New Mexico region, but also expand its reach and continue its growth. This is ideal in that it brings together the superior clinical care and great reputation built by AeroCare over the last 20 years, and the aviation expertise of Med-Trans. This is really a win-win opportunity for all involved. We are especially pleased for what this means to our community and region.”
As a part of the agreement, Med-Trans committed to enhance the AeroCare program with two new helicopters: the first a Bell 407, and the other a Eurocopter EC135 P2, both designed to facilitate optimal patient care. Med-Trans aircraft are equipped with state-of-the-art safety equipment and features, such as night vision goggles, radar altimeters, GPS navigation, satellite tracking and communications, and helicopter terrain alert warning systems (HTAWS).
Fred Buttrell, president and chief executive officer of Med-Trans Corporation, said, “Covenant Health System and AeroCare have done a tremendous job of serving the region and providing critical care to patients throughout West Texas and Eastern New Mexico. It is a privilege to work with Covenant, under the AeroCare brand, and to provide this indispensable service to the vast region that they serve.”
Covenant AeroCare staff and crews in Lubbock and Clovis will continue to work with hospitals and first-responder services throughout West Texas and Eastern New Mexico.
“AeroCare is an industry leader in safety and clinical care, and the new collaboration with Med-Trans will enhance this commitment,” said Andy Faletto, director of AeroCare. “Our patients will be cared for by the same excellent team of AeroCare medical professionals using lifesaving equipment, and they can expect the same level of safety and medical care that AeroCare has always provided. We are strengthening an important community asset, while Covenant keeps its focus on what it does best – providing superior clinical care.”
About Med-Trans
Med-Trans Corporation, headquartered in Dallas, is a leading provider of air ambulance programs in selected locations throughout the United States, focused on establishing partnerships with leading hospital systems, medical centers and EMS agencies to provide customized air medical programs through specialized delivery formats, including alternative delivery models, community based models or traditional hospital-based models. The company has grown from four to 31 programs over the past six years. Med-Trans currently partners with other West Texas hospitals in Odessa, San Angelo and Amarillo to provide air medical services.
About AeroCare
With aircraft based in Lubbock and Clovis, AeroCare provides 24-hour emergency care for area hospitals in more than 62 counties covering more than 250,000 square miles, across West Texas and Eastern New Mexico. CAMTS accredited since 1994, AeroCare offers fixed-wing and helicopter air ambulance service to Covenant Health System as well as other area hospitals. AeroCare's three helicopters and one airplane are certified as mobile intensive care units and are equipped with extensive life support equipment essential to providing care to patients in life-threatening and emergency conditions. AeroCare’s dedicated team of highly specialized flight nurses, paramedics and pilots are prepared to meet needs of the most critically ill patient. AeroCare received the 1999 Texas EMS Air Medical Service Award from the Texas Department of Health, and, in 2000, became the first program in the United States to be recognized for 20,000 consecutive hours of incident-free operation.
About Covenant
Covenant Health System (CHS) is the largest health care system in the region, serving a 62-county area across West Texas and Eastern New Mexico. The system offers more than 1,300 licensed hospital beds, 5,000 employees and 600 physicians at its Lubbock facilities-Covenant Medical Center 19th Street campus, Covenant Women’s and Children’s campus and Covenant Specialty Hospital. Led by Covenant Hospital Levelland and Covenant Hospital Plainview, CHS has a network of more than 15 leased, managed and affiliated regional hospitals. Fully accredited by the Joint Commission on Accreditation of Health Care Organizations (JCAHO), CHS is one of the most comprehensive non-profit health care organizations in the state. Over the past 90 years, the dedicated staff and physicians at Covenant have treated the whole person — body, mind and spirit – and continue to advance with leading-edge technology and compassionate care.
About Brockway Moran & Partners:
Brockway Moran & Partners is a private equity firm with more than $1.3 billion of capital under management. The firm acquires growth-oriented middle market companies in partnership with exceptional management teams. Brockway Moran focuses on businesses with significant growth opportunities either through internal expansion, industry consolidation or innovative business strategies. The principals of the firm have a record of productively working with management teams to build companies into larger and more diverse enterprises. Brockway Moran & Partners invests in a broad spectrum of industries with significant experience in consumer, industrial and service businesses. Since 1998, the firm has completed over 50 acquisitions. For more information, visit www.brockwaymoran.com.
About MVP Capital Partners:
MVP Capital Partners is a private equity firm based outside of Philadelphia, PA, which focuses on investing in middle market companies with $10-100 million in revenues through buyouts, recapitalizations and expansion capital financings. Founded in 1987, the firm manages over $200 million in capital. MVP leverages its professionals’ expertise and its capital by partnering with accomplished management teams to build successful companies. Deploying a sector-diversified portfolio strategy, MVP invests in industries including business services, healthcare, publishing and media, manufacturing, and consumer-related companies. For more information, visit www.mvpcapitalpartners.com.
10/15/2009
Brockway Moran & Partners (Brockway Moran) and MVP Capital Partners (MVP) announced, through their investment in Air Medical Group Holdings, Inc. (AMGH), that AMGH’s Med-Trans Corporation subsidiary has entered into an agreement with Covenant Health System for the purchase of its AeroCare air medical program, based out of Lubbock, Texas. According to the agreement, expected to become effective October 15, Med-Trans will assume ownership and overall management of AeroCare, including all aviation and air medical services in Lubbock and Clovis, New Mexico. Craig Rhyne, M.D., will continue to serve as the program’s medical director.
“We are proud to transition the AeroCare program through partnership with a top-quality air medical leader, and, as such, look forward to continuing to work closely with Med-Trans,” said Brett Esrock, chief operating officer, Covenant Health System. “This transition allows us to not only ensure the long-term sustainability of the program for residents throughout our West Texas and Eastern New Mexico region, but also expand its reach and continue its growth. This is ideal in that it brings together the superior clinical care and great reputation built by AeroCare over the last 20 years, and the aviation expertise of Med-Trans. This is really a win-win opportunity for all involved. We are especially pleased for what this means to our community and region.”
As a part of the agreement, Med-Trans committed to enhance the AeroCare program with two new helicopters: the first a Bell 407, and the other a Eurocopter EC135 P2, both designed to facilitate optimal patient care. Med-Trans aircraft are equipped with state-of-the-art safety equipment and features, such as night vision goggles, radar altimeters, GPS navigation, satellite tracking and communications, and helicopter terrain alert warning systems (HTAWS).
Fred Buttrell, president and chief executive officer of Med-Trans Corporation, said, “Covenant Health System and AeroCare have done a tremendous job of serving the region and providing critical care to patients throughout West Texas and Eastern New Mexico. It is a privilege to work with Covenant, under the AeroCare brand, and to provide this indispensable service to the vast region that they serve.”
Covenant AeroCare staff and crews in Lubbock and Clovis will continue to work with hospitals and first-responder services throughout West Texas and Eastern New Mexico.
“AeroCare is an industry leader in safety and clinical care, and the new collaboration with Med-Trans will enhance this commitment,” said Andy Faletto, director of AeroCare. “Our patients will be cared for by the same excellent team of AeroCare medical professionals using lifesaving equipment, and they can expect the same level of safety and medical care that AeroCare has always provided. We are strengthening an important community asset, while Covenant keeps its focus on what it does best – providing superior clinical care.”
About Med-Trans
Med-Trans Corporation, headquartered in Dallas, is a leading provider of air ambulance programs in selected locations throughout the United States, focused on establishing partnerships with leading hospital systems, medical centers and EMS agencies to provide customized air medical programs through specialized delivery formats, including alternative delivery models, community based models or traditional hospital-based models. The company has grown from four to 31 programs over the past six years. Med-Trans currently partners with other West Texas hospitals in Odessa, San Angelo and Amarillo to provide air medical services.
About AeroCare
With aircraft based in Lubbock and Clovis, AeroCare provides 24-hour emergency care for area hospitals in more than 62 counties covering more than 250,000 square miles, across West Texas and Eastern New Mexico. CAMTS accredited since 1994, AeroCare offers fixed-wing and helicopter air ambulance service to Covenant Health System as well as other area hospitals. AeroCare's three helicopters and one airplane are certified as mobile intensive care units and are equipped with extensive life support equipment essential to providing care to patients in life-threatening and emergency conditions. AeroCare’s dedicated team of highly specialized flight nurses, paramedics and pilots are prepared to meet needs of the most critically ill patient. AeroCare received the 1999 Texas EMS Air Medical Service Award from the Texas Department of Health, and, in 2000, became the first program in the United States to be recognized for 20,000 consecutive hours of incident-free operation.
About Covenant
Covenant Health System (CHS) is the largest health care system in the region, serving a 62-county area across West Texas and Eastern New Mexico. The system offers more than 1,300 licensed hospital beds, 5,000 employees and 600 physicians at its Lubbock facilities-Covenant Medical Center 19th Street campus, Covenant Women’s and Children’s campus and Covenant Specialty Hospital. Led by Covenant Hospital Levelland and Covenant Hospital Plainview, CHS has a network of more than 15 leased, managed and affiliated regional hospitals. Fully accredited by the Joint Commission on Accreditation of Health Care Organizations (JCAHO), CHS is one of the most comprehensive non-profit health care organizations in the state. Over the past 90 years, the dedicated staff and physicians at Covenant have treated the whole person — body, mind and spirit – and continue to advance with leading-edge technology and compassionate care.
About Brockway Moran & Partners:
Brockway Moran & Partners is a private equity firm with more than $1.3 billion of capital under management. The firm acquires growth-oriented middle market companies in partnership with exceptional management teams. Brockway Moran focuses on businesses with significant growth opportunities either through internal expansion, industry consolidation or innovative business strategies. The principals of the firm have a record of productively working with management teams to build companies into larger and more diverse enterprises. Brockway Moran & Partners invests in a broad spectrum of industries with significant experience in consumer, industrial and service businesses. Since 1998, the firm has completed over 50 acquisitions. For more information, visit www.brockwaymoran.com.
About MVP Capital Partners:
MVP Capital Partners is a private equity firm based outside of Philadelphia, PA, which focuses on investing in middle market companies with $10-100 million in revenues through buyouts, recapitalizations and expansion capital financings. Founded in 1987, the firm manages over $200 million in capital. MVP leverages its professionals’ expertise and its capital by partnering with accomplished management teams to build successful companies. Deploying a sector-diversified portfolio strategy, MVP invests in industries including business services, healthcare, publishing and media, manufacturing, and consumer-related companies. For more information, visit www.mvpcapitalpartners.com.