Air Medical to launch $175 million incremental term B on Wednesday

By Sara Rosenberg

New York, July 26 – Air Medical Group Holdings Inc. is scheduled to hold a lender call at 1 p.m. ET on Wednesday to launch a $175 million senior secured incremental first-lien term loan B, according to a market source.

Morgan Stanley Senior Funding Inc. and KKR Capital Markets LLC are the leads on the deal.

Proceeds will be used to help fund the acquisition of Calstar, fund a one-time pro rata share repurchase among equity holders and pay related fees and expenses.

Other funds for the transaction will come from cash on hand, the source said.

Air Medical is a Lewisville, Texas-based provider of air ambulance services. Calstar is a McClellan, Calif.-based regional air ambulance service.

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