American Medical Response has signed a definitive agreement to be acquired by Laidlaw in a deal valued at a little more than $1.1 billion, or $40 per share.
Aurora, Colo.-based American Medical is the nation's biggest medical transportation provider. It operates in 28 states and has more than 12,000 employees. Laidlaw, based in Burlington, Ont., would merge its existing MedTrans patient transportation unit with American Medical. The combined transportation company, which would be headquartered in Aurora, would control about 14% of the patient transportation market.
American Medical President Paul T. Shirley would be president and chief executive officer of the merged company.
American Medical has annual revenues of $725 million, compared with $600 million for Laidlaw's MedTrans.