Clayton, Dubilier & Rice Completes $3.2 Billion Acquisition of Emergency Medical Services Corporation

New York, NY - May 25, 2011 - Clayton, Dubilier & Rice, LLC (“CD&R”) announced today that an affiliate of CD&R has acquired Emergency Medical Services Corporation (“EMSC” or “the Company”), the leading provider of facility-based physician services and medical transportation services in the United States. The transaction is valued at approximately $3.2 billion, including the assumption of net debt as well as transaction-related expenses.

CD&R’s Ronald A. Williams, former chairman and CEO of Aetna Inc., will assume the role of Chairman of the Board of Directors. William A. Sanger continues to serve as EMSC’s Chief Executive Officer.

With annual revenues of approximately $2.9 billion, EMSC is the market leader in two highly fragmented outsourced healthcare services in the U.S. The Company’s EmCare Holdings Inc. segment (“EmCare”), which operates in 41 states, is a leading provider of hospital-based physician services, including emergency department staffing, hospitalist, radiology and anesthesiology services to healthcare facilities. American Medical Response, Inc. (“AMR”), the Company’s medical transportation services segment, including both emergency and non-emergency ambulance transports, is the market leader operating in 40 states.

EMSC stockholders approved the adoption of the merger agreement at a special stockholder meeting on May 20, 2011. At the closing of the transaction, EMSC will become a privately-held company, and its common stock will no longer be traded on the NYSE. Pursuant to the merger, EMSC stockholders are entitled to receive $64.00 in cash, without interest and less any applicable withholding taxes, for each share of EMSC Class A common stock and Class B common stock and each LP Exchangeable Unit.

 


Clayton, Dubilier & Rice Completes $3.2 Billion Acquisition of Emergency Medical Services Corporation

New York, NY - May 25, 2011 - Clayton, Dubilier & Rice, LLC (“CD&R”) announced today that an affiliate of CD&R has acquired Emergency Medical Services Corporation (“EMSC” or “the Company”), the leading provider of facility-based physician services and medical transportation services in the United States. The transaction is valued at approximately $3.2 billion, including the assumption of net debt as well as transaction-related expenses.

CD&R’s Ronald A. Williams, former chairman and CEO of Aetna Inc., will assume the role of Chairman of the Board of Directors. William A. Sanger continues to serve as EMSC’s Chief Executive Officer.

With annual revenues of approximately $2.9 billion, EMSC is the market leader in two highly fragmented outsourced healthcare services in the U.S. The Company’s EmCare Holdings Inc. segment (“EmCare”), which operates in 41 states, is a leading provider of hospital-based physician services, including emergency department staffing, hospitalist, radiology and anesthesiology services to healthcare facilities. American Medical Response, Inc. (“AMR”), the Company’s medical transportation services segment, including both emergency and non-emergency ambulance transports, is the market leader operating in 40 states.

EMSC stockholders approved the adoption of the merger agreement at a special stockholder meeting on May 20, 2011. At the closing of the transaction, EMSC will become a privately-held company, and its common stock will no longer be traded on the NYSE. Pursuant to the merger, EMSC stockholders are entitled to receive $64.00 in cash, without interest and less any applicable withholding taxes, for each share of EMSC Class A common stock and Class B common stock and each LP Exchangeable Unit.