Air Medical Group to get debt financing to fund recapitalization plan

By Angela McDaniels

Tacoma, Wash., Sept. 7 - Air Medical Group Holdings plans to recapitalize the company and said that debt financing for the transaction will be provided by Bank of America Merrill Lynch, Barclays Capital, Citi and Morgan Stanley.

A Bain Capital affiliate will lead the recapitalization in partnership with management and current investors Brockway Moran & Partners and MVP Capital Partners, according to a company news release.

The recapitalization is expected to close during the third or fourth quarter. The terms were not disclosed.

Air Medical said its three subsidiaries, Air Evac Lifeteam, Med-Trans Corp. and EagleMed, will continue to operate independently.

Barclays Capital and Moelis & Co. are acting as financial advisers to Air Medical, and Greenberg Traurig is acting as legal adviser.

Air Medical is based in Boca Raton, Fla., and provides air medical services through its subsidiaries.

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