Kohlberg Kravis Roberts (KKR) & Co L.P. is a Major investment banking company based out of New York. It has now acquired the second biggest US air ambulance company when it comes to helicopter EMS – Air Medical Group Holdings or AMGH. The deal was struck for a whopping 2 billion US dollars. Previous year alone AMGH and its affiliates had rescued over 75,000 patients.
The US Air Ambulance Company has a Huge Fleet
AMGH has a fleet of 222 choppers as well as 25 fixed-wing air ambulances. It operates through 231 bases round the clock in 25 different states in the US. AMGH is only second to Air Methods which is the largest US air ambulance company currently. EagleMed, Med-Trans and Air Evac Lifeteam also belong to AMGH. These organizations fly a variety of choppers and fix-winged aircrafts depending on the regions that they cover.
The Interests of KKR are Beyond US Air Ambulance Sector
KKR has shown a special interest in the health sector as a whole and the US air ambulance company is just a part of it. The financial giant had acquired Hospital Corporation of America for a huge sum of 31.6 billion US dollars back in 2006. It also has investments in Panasonic Healthcare. KKR has also shown interest in aviation related companies with investments in Malaysian Westar Aviation.
AMGH was previously owned by Bain Capital and it had made the acquisition of this US air ambulance company in 2010. Bain and KKR have a history of working together when it comes to acquiring companies. Bain had been a minority partner while Panasonic Healthcare was acquired by KKR.
With the acquisition of the second largest US air ambulance service provider, KKR will definitely have a huge impact in the health care market in the country. The deal is expected to be closed by the second quarter of this year. The regulatory procedures are believed to be currently underway.
