KKR to acquire Air Medical Group Holdings

Air Medical Group Holdings (AMGH) announced on 11 March that funds managed by KKR, a global investment firm, had signed a definitive agreement to acquire AMGH from affiliates of Bain Capital and Brockway Moran & Partners. Financial terms of the transaction were not disclosed.

AMGH’s subsidiaries Air Evac Lifeteam, Med-Trans Corporation and EagleMed transport more than 75,000 critically injured patients each year through a fleet of helicopters and airplanes that operate 24 hours a day and seven days a week. In addition, AMGH provides over 120,000 ground transports on an annual basis.

Fred Buttrell, CEO of AMGH, commented: “We are fortunate to partner with an investor that shares our vision. We’ve been blessed to have partnered with Bain Capital who supported our spiritual mission of timely service in people’s critical time of need. We believe that our partnership with KKR will propel us to new heights in our positioning in the market. We look forward to working with KKR to continue providing lifesaving services to our patients.”

Jim Momtazee, a member of KKR and head of KKR’s healthcare investing team, said: “Having followed AMGH for several years, we believe that the company is poised for service expansion, and we look forward to partnering with management on this next phase of its evolution.”

KKR has experience working with other helicopter companies, including a current investment in Weststar Aviation and former investment in Avincis Group.

The transaction is expected to close in the second quarter of 2015 and is subject to regulatory approvals.