Emergency Medical Services Close To Being Acuired

Emergency Medical Services EMS, the provider of ambulance and facility-based physician services, is reportedly close to being acquired for $3.1 billion private-equity firm Clayton Dubilier & Rice LLC. The deal is believed to be a leveraged buyout. Colorado-based Emergency Medical Services, the largest U.S. operator of ambulance services and provider of emergency-room doctors, said Dec. 14 it was looking at strategic alternatives, according to Bloomberg News. Bain Capital was said to be the runner-up fro Emergency Medical. Clayton Dubilier is expected to pay $70 a share for Emergency Medical, which would be below the $70.66 Friday closing price. EMS's ambulance unit had 2009 revenue of $1.34 billion and its emergency physician business reported 2009 sales of $1.23 billion and the company could post 2010 revenue of $2.86 billion, Bloomberg reported. Goldman Sachs GS and Bank of America BAC are managing the sale.