Guest guest Posted December 11, 2005 Report Share Posted December 11, 2005 Do shareholders get an extra bump in run priority? Maybe my Priority 3 general sickness will be a Priority 2 now if I buy 100 shares? Maybe a Priority 1 if I buy 1000 shares? More importantly, are current employees being given options on the stock (equity options), so that the company can be " employee owned " ? How much of the actual company is being given up for sale, percentage wise, to stockholders? Is it a controlling share? Mike > > Medical-services company going public this week > > > > > > By Aldo Svaldi > Denver Post Staff Writer > DenverPost.com > > > > > > Emergency Medical Services Corp. plans to go public this week in an initial > stock offering. > > The Greenwood Village company plans to offer 7.8 million shares priced at > between $15 and $17 a share. Those shares will trade on the New York Stock > Exchange under the ticker EMS. > > Emergency Medical provides private ambulance services under the AMR brand > and emergency-room services under the EmCare brand. > > " AMR has an 8 percent share of the total ambulance services market and a 21 > percent share of the private provider ambulance market, with net revenue > approximately twice that of our only national competitor, " the company said > in its filings. During fiscal 2004, AMR treated and transported about 3.7 > million patients in 34 states. > > For the fiscal year ended Aug. 31, the company generated net revenue of $1.6 > billion and net income of $37.3 million. > > The company plans to use $100 million of its IPO proceeds to repay debt and > the remainder for general corporate purposes. > > Emergency Medical initially set terms of its offering on Oct. 19. Although > nearly two months may seem like a long time, it is not unusual for a company > to take that long to hit the markets, especially if there is an intervening > holiday, said Hase, an analyst with Renaissance Capital, a > Greenwich, Conn., provider of independent research on initial public > offerings. > > Emergency Medical will be hitting the markets during a busy week for IPOs, > Hase said. " The IPO market has picked up, " she said. > > Underwriters for the offering include some of Wall Street's heaviest hitters > - Banc of America Securities, JP, CIBC World Markets, Credit Suisse > First Boston and Goldman Sachs & Co. > > In February, an investor group led by Onex Partners LP and Onex Corp., along > with management, purchased AMR and EmCare for $828.8 million from Laidlaw > International, a Canadian holding company that had acquired the two firms in > 1997. > > > > > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 11, 2005 Report Share Posted December 11, 2005 Do shareholders get an extra bump in run priority? Maybe my Priority 3 general sickness will be a Priority 2 now if I buy 100 shares? Maybe a Priority 1 if I buy 1000 shares? More importantly, are current employees being given options on the stock (equity options), so that the company can be " employee owned " ? How much of the actual company is being given up for sale, percentage wise, to stockholders? Is it a controlling share? Mike > > Medical-services company going public this week > > > > > > By Aldo Svaldi > Denver Post Staff Writer > DenverPost.com > > > > > > Emergency Medical Services Corp. plans to go public this week in an initial > stock offering. > > The Greenwood Village company plans to offer 7.8 million shares priced at > between $15 and $17 a share. Those shares will trade on the New York Stock > Exchange under the ticker EMS. > > Emergency Medical provides private ambulance services under the AMR brand > and emergency-room services under the EmCare brand. > > " AMR has an 8 percent share of the total ambulance services market and a 21 > percent share of the private provider ambulance market, with net revenue > approximately twice that of our only national competitor, " the company said > in its filings. During fiscal 2004, AMR treated and transported about 3.7 > million patients in 34 states. > > For the fiscal year ended Aug. 31, the company generated net revenue of $1.6 > billion and net income of $37.3 million. > > The company plans to use $100 million of its IPO proceeds to repay debt and > the remainder for general corporate purposes. > > Emergency Medical initially set terms of its offering on Oct. 19. Although > nearly two months may seem like a long time, it is not unusual for a company > to take that long to hit the markets, especially if there is an intervening > holiday, said Hase, an analyst with Renaissance Capital, a > Greenwich, Conn., provider of independent research on initial public > offerings. > > Emergency Medical will be hitting the markets during a busy week for IPOs, > Hase said. " The IPO market has picked up, " she said. > > Underwriters for the offering include some of Wall Street's heaviest hitters > - Banc of America Securities, JP, CIBC World Markets, Credit Suisse > First Boston and Goldman Sachs & Co. > > In February, an investor group led by Onex Partners LP and Onex Corp., along > with management, purchased AMR and EmCare for $828.8 million from Laidlaw > International, a Canadian holding company that had acquired the two firms in > 1997. > > > > > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 11, 2005 Report Share Posted December 11, 2005 Do shareholders get an extra bump in run priority? Maybe my Priority 3 general sickness will be a Priority 2 now if I buy 100 shares? Maybe a Priority 1 if I buy 1000 shares? More importantly, are current employees being given options on the stock (equity options), so that the company can be " employee owned " ? How much of the actual company is being given up for sale, percentage wise, to stockholders? Is it a controlling share? Mike > > Medical-services company going public this week > > > > > > By Aldo Svaldi > Denver Post Staff Writer > DenverPost.com > > > > > > Emergency Medical Services Corp. plans to go public this week in an initial > stock offering. > > The Greenwood Village company plans to offer 7.8 million shares priced at > between $15 and $17 a share. Those shares will trade on the New York Stock > Exchange under the ticker EMS. > > Emergency Medical provides private ambulance services under the AMR brand > and emergency-room services under the EmCare brand. > > " AMR has an 8 percent share of the total ambulance services market and a 21 > percent share of the private provider ambulance market, with net revenue > approximately twice that of our only national competitor, " the company said > in its filings. During fiscal 2004, AMR treated and transported about 3.7 > million patients in 34 states. > > For the fiscal year ended Aug. 31, the company generated net revenue of $1.6 > billion and net income of $37.3 million. > > The company plans to use $100 million of its IPO proceeds to repay debt and > the remainder for general corporate purposes. > > Emergency Medical initially set terms of its offering on Oct. 19. Although > nearly two months may seem like a long time, it is not unusual for a company > to take that long to hit the markets, especially if there is an intervening > holiday, said Hase, an analyst with Renaissance Capital, a > Greenwich, Conn., provider of independent research on initial public > offerings. > > Emergency Medical will be hitting the markets during a busy week for IPOs, > Hase said. " The IPO market has picked up, " she said. > > Underwriters for the offering include some of Wall Street's heaviest hitters > - Banc of America Securities, JP, CIBC World Markets, Credit Suisse > First Boston and Goldman Sachs & Co. > > In February, an investor group led by Onex Partners LP and Onex Corp., along > with management, purchased AMR and EmCare for $828.8 million from Laidlaw > International, a Canadian holding company that had acquired the two firms in > 1997. > > > > > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 11, 2005 Report Share Posted December 11, 2005 Mike, I decided to review some of their SEC filings. This offering is for 7.8M shares at $16+/- ($124M+/-). Assuming the value of the company is anywhere close to the purchase price that’s a 15% share. This will be somewhat larger (18.9% according to filings) because the article says they are going to pay off debt with a portion of ($100M according to the SEC filing) the proceeds. If you are interested in more about this transaction I would encourage you to read their SEC filings. Here is a portion from their S-1/A filed on 12/06/05. Company History In February 2005, an investor group led by Onex Partners LP and Onex Corporation, and including members of our management, purchased our operating subsidiaries — AMR and EmCare — from Laidlaw International, Inc. Laidlaw had acquired AMR and EmCare in 1997. The purchase price for AMR and EmCare totaled $828.8 million. We funded the purchase price and related transaction costs with equity contributions of $219.2 million, the issuance and sale of $250.0 million principal amount of our senior subordinated notes and borrowings under our senior secured credit facility, including a term loan of $350.0 million and approximately $20.2 million under our revolving credit facility. We intend to use approximately $100.0 million of the net proceeds from this offering to repay debt outstanding under our senior secured credit facility. Since completing our acquisition of AMR and EmCare, we have operated through a holding company, EMS L.P., that is a limited partnership. As described in “Formation of Holding Company”, our new holding company will be a Delaware corporation upon completion of this offering. This prospectus gives effect to our reorganization. The class A common stock we are selling in this offering will represent approximately 18.9% of our equity and 2.3% of our combined voting power. Following this offering, our initial equity investors, including management and entities affiliated with Onex Corporation, will continue to own approximately 81.1% of our equity and 97.7% of our combined voting power. The Onex entities will hold their equity in the form of LP exchangeable units in EMS L.P., which are exchangeable on a one-for-one basis for shares of our class B common stock, and they will have the benefit of the voting rights attributable to that class B common stock through one share of class B special voting stock. See “Formation of Holding Company.” Our class B common stock has ten votes per share and our class A common stock has one vote per share. In exchange for an annual management fee of $1.0 million, an affiliate of Onex Corporation provides us with corporate finance and strategic planning consulting services. Our management agreement has an initial term ending February 10, 2010, subject to automatic one-year renewals unless terminated by either party by notice given at least 90 days prior to the scheduled expiration date. The annual fee may be increased to up to $2.0 million upon approval of majority of the members of each of AMR’s and EmCare’s board of directors who are not affiliated with Onex. We have no other arrangements by which Onex affiliates will receive payments or compensation from us other than on an equivalent basis to class A stockholders. See “Certain Relationships and Related Party Transactions — Management Fee Agreement with Onex Partners Manager LP”. The Offering The number of shares of class A common stock being offered in this offering represents 18.9% of our common stock outstanding and 2.3% of our combined voting power. The number of shares of our common stock to be outstanding after this offering excludes the 32,107,500 shares of class B common stock issuable on exchange of the LP exchangeable units and the 3,509,219 shares of class A common stock issuable upon the exercise of options. Following this offering, we will have the following securities outstanding: 8,948,325 shares of class A common stock, 142,545 shares of class B common stock, one share of class B special voting stock, and 32,107,500 LP exchangeable units of EMS L.P. At any time at the option of the holder: each LP exchangeable unit is exchangeable into one share of class B common stock, and each share of class B common stock is convertible into one share of class A common stock. Our securities are entitled to vote on all matters subject to a vote of holders of common stock, voting together as a single class, as follows: class A common stock is entitled to one vote per share, class B common stock is entitled to ten votes per share (reducing to one vote per share under certain limited circumstances), and one share of class B special voting stock, held for the benefit of the holders of LP exchangeable units, is entitled to a number of votes equal to the number of votes that could be cast if all the then outstanding LP exchangeable units were exchanged for class B common stock. The holders of the LP exchangeable units may therefore exercise voting rights with respect to Emergency Medical Services as though they held the same number of shares of our class B common stock. Except as otherwise indicated, all of the information presented in this prospectus assumes the following: our formation as a holding company named Emergency Medical Services Corporation, as described under “Formation of Holding Company”, the anticipated 1.5-for-1 stock split based upon an assumed initial public offering price of $16.00 per share, which is the mid-point of the range set forth in the cover page of this prospectus, and no exercise of the underwriters’ over-allotment option. For other filings go to http://hoovers.com/emergency-medical-services/--ID__139683,Page__1,Sort__D--/fre\ e-co-sec.xhtml Tater Mike wrote: Do shareholders get an extra bump in run priority? Maybe my Priority 3 general sickness will be a Priority 2 now if I buy 100 shares? Maybe a Priority 1 if I buy 1000 shares? More importantly, are current employees being given options on the stock (equity options), so that the company can be " employee owned " ? How much of the actual company is being given up for sale, percentage wise, to stockholders? Is it a controlling share? Mike > > Medical-services company going public this week > > > > > > By Aldo Svaldi > Denver Post Staff Writer > DenverPost.com > > > > > > Emergency Medical Services Corp. plans to go public this week in an initial > stock offering. > > The Greenwood Village company plans to offer 7.8 million shares priced at > between $15 and $17 a share. Those shares will trade on the New York Stock > Exchange under the ticker EMS. > > Emergency Medical provides private ambulance services under the AMR brand > and emergency-room services under the EmCare brand. > > " AMR has an 8 percent share of the total ambulance services market and a 21 > percent share of the private provider ambulance market, with net revenue > approximately twice that of our only national competitor, " the company said > in its filings. During fiscal 2004, AMR treated and transported about 3.7 > million patients in 34 states. > > For the fiscal year ended Aug. 31, the company generated net revenue of $1.6 > billion and net income of $37.3 million. > > The company plans to use $100 million of its IPO proceeds to repay debt and > the remainder for general corporate purposes. > > Emergency Medical initially set terms of its offering on Oct. 19. Although > nearly two months may seem like a long time, it is not unusual for a company > to take that long to hit the markets, especially if there is an intervening > holiday, said Hase, an analyst with Renaissance Capital, a > Greenwich, Conn., provider of independent research on initial public > offerings. > > Emergency Medical will be hitting the markets during a busy week for IPOs, > Hase said. " The IPO market has picked up, " she said. > > Underwriters for the offering include some of Wall Street's heaviest hitters > - Banc of America Securities, JP, CIBC World Markets, Credit Suisse > First Boston and Goldman Sachs & Co. > > In February, an investor group led by Onex Partners LP and Onex Corp., along > with management, purchased AMR and EmCare for $828.8 million from Laidlaw > International, a Canadian holding company that had acquired the two firms in > 1997. > > > > > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 11, 2005 Report Share Posted December 11, 2005 Mike, I decided to review some of their SEC filings. This offering is for 7.8M shares at $16+/- ($124M+/-). Assuming the value of the company is anywhere close to the purchase price that’s a 15% share. This will be somewhat larger (18.9% according to filings) because the article says they are going to pay off debt with a portion of ($100M according to the SEC filing) the proceeds. If you are interested in more about this transaction I would encourage you to read their SEC filings. Here is a portion from their S-1/A filed on 12/06/05. Company History In February 2005, an investor group led by Onex Partners LP and Onex Corporation, and including members of our management, purchased our operating subsidiaries — AMR and EmCare — from Laidlaw International, Inc. Laidlaw had acquired AMR and EmCare in 1997. The purchase price for AMR and EmCare totaled $828.8 million. We funded the purchase price and related transaction costs with equity contributions of $219.2 million, the issuance and sale of $250.0 million principal amount of our senior subordinated notes and borrowings under our senior secured credit facility, including a term loan of $350.0 million and approximately $20.2 million under our revolving credit facility. We intend to use approximately $100.0 million of the net proceeds from this offering to repay debt outstanding under our senior secured credit facility. Since completing our acquisition of AMR and EmCare, we have operated through a holding company, EMS L.P., that is a limited partnership. As described in “Formation of Holding Company”, our new holding company will be a Delaware corporation upon completion of this offering. This prospectus gives effect to our reorganization. The class A common stock we are selling in this offering will represent approximately 18.9% of our equity and 2.3% of our combined voting power. Following this offering, our initial equity investors, including management and entities affiliated with Onex Corporation, will continue to own approximately 81.1% of our equity and 97.7% of our combined voting power. The Onex entities will hold their equity in the form of LP exchangeable units in EMS L.P., which are exchangeable on a one-for-one basis for shares of our class B common stock, and they will have the benefit of the voting rights attributable to that class B common stock through one share of class B special voting stock. See “Formation of Holding Company.” Our class B common stock has ten votes per share and our class A common stock has one vote per share. In exchange for an annual management fee of $1.0 million, an affiliate of Onex Corporation provides us with corporate finance and strategic planning consulting services. Our management agreement has an initial term ending February 10, 2010, subject to automatic one-year renewals unless terminated by either party by notice given at least 90 days prior to the scheduled expiration date. The annual fee may be increased to up to $2.0 million upon approval of majority of the members of each of AMR’s and EmCare’s board of directors who are not affiliated with Onex. We have no other arrangements by which Onex affiliates will receive payments or compensation from us other than on an equivalent basis to class A stockholders. See “Certain Relationships and Related Party Transactions — Management Fee Agreement with Onex Partners Manager LP”. The Offering The number of shares of class A common stock being offered in this offering represents 18.9% of our common stock outstanding and 2.3% of our combined voting power. The number of shares of our common stock to be outstanding after this offering excludes the 32,107,500 shares of class B common stock issuable on exchange of the LP exchangeable units and the 3,509,219 shares of class A common stock issuable upon the exercise of options. Following this offering, we will have the following securities outstanding: 8,948,325 shares of class A common stock, 142,545 shares of class B common stock, one share of class B special voting stock, and 32,107,500 LP exchangeable units of EMS L.P. At any time at the option of the holder: each LP exchangeable unit is exchangeable into one share of class B common stock, and each share of class B common stock is convertible into one share of class A common stock. Our securities are entitled to vote on all matters subject to a vote of holders of common stock, voting together as a single class, as follows: class A common stock is entitled to one vote per share, class B common stock is entitled to ten votes per share (reducing to one vote per share under certain limited circumstances), and one share of class B special voting stock, held for the benefit of the holders of LP exchangeable units, is entitled to a number of votes equal to the number of votes that could be cast if all the then outstanding LP exchangeable units were exchanged for class B common stock. The holders of the LP exchangeable units may therefore exercise voting rights with respect to Emergency Medical Services as though they held the same number of shares of our class B common stock. Except as otherwise indicated, all of the information presented in this prospectus assumes the following: our formation as a holding company named Emergency Medical Services Corporation, as described under “Formation of Holding Company”, the anticipated 1.5-for-1 stock split based upon an assumed initial public offering price of $16.00 per share, which is the mid-point of the range set forth in the cover page of this prospectus, and no exercise of the underwriters’ over-allotment option. For other filings go to http://hoovers.com/emergency-medical-services/--ID__139683,Page__1,Sort__D--/fre\ e-co-sec.xhtml Tater Mike wrote: Do shareholders get an extra bump in run priority? Maybe my Priority 3 general sickness will be a Priority 2 now if I buy 100 shares? Maybe a Priority 1 if I buy 1000 shares? More importantly, are current employees being given options on the stock (equity options), so that the company can be " employee owned " ? How much of the actual company is being given up for sale, percentage wise, to stockholders? Is it a controlling share? Mike > > Medical-services company going public this week > > > > > > By Aldo Svaldi > Denver Post Staff Writer > DenverPost.com > > > > > > Emergency Medical Services Corp. plans to go public this week in an initial > stock offering. > > The Greenwood Village company plans to offer 7.8 million shares priced at > between $15 and $17 a share. Those shares will trade on the New York Stock > Exchange under the ticker EMS. > > Emergency Medical provides private ambulance services under the AMR brand > and emergency-room services under the EmCare brand. > > " AMR has an 8 percent share of the total ambulance services market and a 21 > percent share of the private provider ambulance market, with net revenue > approximately twice that of our only national competitor, " the company said > in its filings. During fiscal 2004, AMR treated and transported about 3.7 > million patients in 34 states. > > For the fiscal year ended Aug. 31, the company generated net revenue of $1.6 > billion and net income of $37.3 million. > > The company plans to use $100 million of its IPO proceeds to repay debt and > the remainder for general corporate purposes. > > Emergency Medical initially set terms of its offering on Oct. 19. Although > nearly two months may seem like a long time, it is not unusual for a company > to take that long to hit the markets, especially if there is an intervening > holiday, said Hase, an analyst with Renaissance Capital, a > Greenwich, Conn., provider of independent research on initial public > offerings. > > Emergency Medical will be hitting the markets during a busy week for IPOs, > Hase said. " The IPO market has picked up, " she said. > > Underwriters for the offering include some of Wall Street's heaviest hitters > - Banc of America Securities, JP, CIBC World Markets, Credit Suisse > First Boston and Goldman Sachs & Co. > > In February, an investor group led by Onex Partners LP and Onex Corp., along > with management, purchased AMR and EmCare for $828.8 million from Laidlaw > International, a Canadian holding company that had acquired the two firms in > 1997. > > > > > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 11, 2005 Report Share Posted December 11, 2005 Mike, I decided to review some of their SEC filings. This offering is for 7.8M shares at $16+/- ($124M+/-). Assuming the value of the company is anywhere close to the purchase price that’s a 15% share. This will be somewhat larger (18.9% according to filings) because the article says they are going to pay off debt with a portion of ($100M according to the SEC filing) the proceeds. If you are interested in more about this transaction I would encourage you to read their SEC filings. Here is a portion from their S-1/A filed on 12/06/05. Company History In February 2005, an investor group led by Onex Partners LP and Onex Corporation, and including members of our management, purchased our operating subsidiaries — AMR and EmCare — from Laidlaw International, Inc. Laidlaw had acquired AMR and EmCare in 1997. The purchase price for AMR and EmCare totaled $828.8 million. We funded the purchase price and related transaction costs with equity contributions of $219.2 million, the issuance and sale of $250.0 million principal amount of our senior subordinated notes and borrowings under our senior secured credit facility, including a term loan of $350.0 million and approximately $20.2 million under our revolving credit facility. We intend to use approximately $100.0 million of the net proceeds from this offering to repay debt outstanding under our senior secured credit facility. Since completing our acquisition of AMR and EmCare, we have operated through a holding company, EMS L.P., that is a limited partnership. As described in “Formation of Holding Company”, our new holding company will be a Delaware corporation upon completion of this offering. This prospectus gives effect to our reorganization. The class A common stock we are selling in this offering will represent approximately 18.9% of our equity and 2.3% of our combined voting power. Following this offering, our initial equity investors, including management and entities affiliated with Onex Corporation, will continue to own approximately 81.1% of our equity and 97.7% of our combined voting power. The Onex entities will hold their equity in the form of LP exchangeable units in EMS L.P., which are exchangeable on a one-for-one basis for shares of our class B common stock, and they will have the benefit of the voting rights attributable to that class B common stock through one share of class B special voting stock. See “Formation of Holding Company.” Our class B common stock has ten votes per share and our class A common stock has one vote per share. In exchange for an annual management fee of $1.0 million, an affiliate of Onex Corporation provides us with corporate finance and strategic planning consulting services. Our management agreement has an initial term ending February 10, 2010, subject to automatic one-year renewals unless terminated by either party by notice given at least 90 days prior to the scheduled expiration date. The annual fee may be increased to up to $2.0 million upon approval of majority of the members of each of AMR’s and EmCare’s board of directors who are not affiliated with Onex. We have no other arrangements by which Onex affiliates will receive payments or compensation from us other than on an equivalent basis to class A stockholders. See “Certain Relationships and Related Party Transactions — Management Fee Agreement with Onex Partners Manager LP”. The Offering The number of shares of class A common stock being offered in this offering represents 18.9% of our common stock outstanding and 2.3% of our combined voting power. The number of shares of our common stock to be outstanding after this offering excludes the 32,107,500 shares of class B common stock issuable on exchange of the LP exchangeable units and the 3,509,219 shares of class A common stock issuable upon the exercise of options. Following this offering, we will have the following securities outstanding: 8,948,325 shares of class A common stock, 142,545 shares of class B common stock, one share of class B special voting stock, and 32,107,500 LP exchangeable units of EMS L.P. At any time at the option of the holder: each LP exchangeable unit is exchangeable into one share of class B common stock, and each share of class B common stock is convertible into one share of class A common stock. Our securities are entitled to vote on all matters subject to a vote of holders of common stock, voting together as a single class, as follows: class A common stock is entitled to one vote per share, class B common stock is entitled to ten votes per share (reducing to one vote per share under certain limited circumstances), and one share of class B special voting stock, held for the benefit of the holders of LP exchangeable units, is entitled to a number of votes equal to the number of votes that could be cast if all the then outstanding LP exchangeable units were exchanged for class B common stock. The holders of the LP exchangeable units may therefore exercise voting rights with respect to Emergency Medical Services as though they held the same number of shares of our class B common stock. Except as otherwise indicated, all of the information presented in this prospectus assumes the following: our formation as a holding company named Emergency Medical Services Corporation, as described under “Formation of Holding Company”, the anticipated 1.5-for-1 stock split based upon an assumed initial public offering price of $16.00 per share, which is the mid-point of the range set forth in the cover page of this prospectus, and no exercise of the underwriters’ over-allotment option. For other filings go to http://hoovers.com/emergency-medical-services/--ID__139683,Page__1,Sort__D--/fre\ e-co-sec.xhtml Tater Mike wrote: Do shareholders get an extra bump in run priority? Maybe my Priority 3 general sickness will be a Priority 2 now if I buy 100 shares? Maybe a Priority 1 if I buy 1000 shares? More importantly, are current employees being given options on the stock (equity options), so that the company can be " employee owned " ? How much of the actual company is being given up for sale, percentage wise, to stockholders? Is it a controlling share? Mike > > Medical-services company going public this week > > > > > > By Aldo Svaldi > Denver Post Staff Writer > DenverPost.com > > > > > > Emergency Medical Services Corp. plans to go public this week in an initial > stock offering. > > The Greenwood Village company plans to offer 7.8 million shares priced at > between $15 and $17 a share. Those shares will trade on the New York Stock > Exchange under the ticker EMS. > > Emergency Medical provides private ambulance services under the AMR brand > and emergency-room services under the EmCare brand. > > " AMR has an 8 percent share of the total ambulance services market and a 21 > percent share of the private provider ambulance market, with net revenue > approximately twice that of our only national competitor, " the company said > in its filings. During fiscal 2004, AMR treated and transported about 3.7 > million patients in 34 states. > > For the fiscal year ended Aug. 31, the company generated net revenue of $1.6 > billion and net income of $37.3 million. > > The company plans to use $100 million of its IPO proceeds to repay debt and > the remainder for general corporate purposes. > > Emergency Medical initially set terms of its offering on Oct. 19. Although > nearly two months may seem like a long time, it is not unusual for a company > to take that long to hit the markets, especially if there is an intervening > holiday, said Hase, an analyst with Renaissance Capital, a > Greenwich, Conn., provider of independent research on initial public > offerings. > > Emergency Medical will be hitting the markets during a busy week for IPOs, > Hase said. " The IPO market has picked up, " she said. > > Underwriters for the offering include some of Wall Street's heaviest hitters > - Banc of America Securities, JP, CIBC World Markets, Credit Suisse > First Boston and Goldman Sachs & Co. > > In February, an investor group led by Onex Partners LP and Onex Corp., along > with management, purchased AMR and EmCare for $828.8 million from Laidlaw > International, a Canadian holding company that had acquired the two firms in > 1997. > > > > > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 11, 2005 Report Share Posted December 11, 2005 All employees and medical directors were given the opportunity to purchase stock at very favorable terms several months ago in anticipation of the company going public. I hope everyone took advantage of this generous offer. The entire company will be owned by the shareholders as a result of the public offering. Larry MD > Do shareholders get an extra bump in run priority? Maybe my Priority > 3 general sickness will be a Priority 2 now if I buy 100 shares? > Maybe a Priority 1 if I buy 1000 shares? > > More importantly, are current employees being given options on the > stock (equity options), so that the company can be " employee owned " ? > > How much of the actual company is being given up for sale, percentage > wise, to stockholders? Is it a controlling share? > > Mike > > >> >> Medical-services company going public this week >> >> >> >> >> >> By Aldo Svaldi >> Denver Post Staff Writer >> DenverPost.com >> >> >> >> >> >> Emergency Medical Services Corp. plans to go public this week in an initial >> stock offering. >> >> The Greenwood Village company plans to offer 7.8 million shares priced at >> between $15 and $17 a share. Those shares will trade on the New York Stock >> Exchange under the ticker EMS. >> >> Emergency Medical provides private ambulance services under the AMR brand >> and emergency-room services under the EmCare brand. >> >> " AMR has an 8 percent share of the total ambulance services market and a 21 >> percent share of the private provider ambulance market, with net revenue >> approximately twice that of our only national competitor, " the company said >> in its filings. During fiscal 2004, AMR treated and transported about 3.7 >> million patients in 34 states. >> >> For the fiscal year ended Aug. 31, the company generated net revenue of $1.6 >> billion and net income of $37.3 million. >> >> The company plans to use $100 million of its IPO proceeds to repay debt and >> the remainder for general corporate purposes. >> >> Emergency Medical initially set terms of its offering on Oct. 19. Although >> nearly two months may seem like a long time, it is not unusual for a company >> to take that long to hit the markets, especially if there is an intervening >> holiday, said Hase, an analyst with Renaissance Capital, a >> Greenwich, Conn., provider of independent research on initial public >> offerings. >> >> Emergency Medical will be hitting the markets during a busy week for IPOs, >> Hase said. " The IPO market has picked up, " she said. >> >> Underwriters for the offering include some of Wall Street's heaviest hitters >> - Banc of America Securities, JP, CIBC World Markets, Credit Suisse >> First Boston and Goldman Sachs & Co. >> >> In February, an investor group led by Onex Partners LP and Onex Corp., along >> with management, purchased AMR and EmCare for $828.8 million from Laidlaw >> International, a Canadian holding company that had acquired the two firms in >> 1997. >> >> >> >> >> >> Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 11, 2005 Report Share Posted December 11, 2005 All employees and medical directors were given the opportunity to purchase stock at very favorable terms several months ago in anticipation of the company going public. I hope everyone took advantage of this generous offer. The entire company will be owned by the shareholders as a result of the public offering. Larry MD > Do shareholders get an extra bump in run priority? Maybe my Priority > 3 general sickness will be a Priority 2 now if I buy 100 shares? > Maybe a Priority 1 if I buy 1000 shares? > > More importantly, are current employees being given options on the > stock (equity options), so that the company can be " employee owned " ? > > How much of the actual company is being given up for sale, percentage > wise, to stockholders? Is it a controlling share? > > Mike > > >> >> Medical-services company going public this week >> >> >> >> >> >> By Aldo Svaldi >> Denver Post Staff Writer >> DenverPost.com >> >> >> >> >> >> Emergency Medical Services Corp. plans to go public this week in an initial >> stock offering. >> >> The Greenwood Village company plans to offer 7.8 million shares priced at >> between $15 and $17 a share. Those shares will trade on the New York Stock >> Exchange under the ticker EMS. >> >> Emergency Medical provides private ambulance services under the AMR brand >> and emergency-room services under the EmCare brand. >> >> " AMR has an 8 percent share of the total ambulance services market and a 21 >> percent share of the private provider ambulance market, with net revenue >> approximately twice that of our only national competitor, " the company said >> in its filings. During fiscal 2004, AMR treated and transported about 3.7 >> million patients in 34 states. >> >> For the fiscal year ended Aug. 31, the company generated net revenue of $1.6 >> billion and net income of $37.3 million. >> >> The company plans to use $100 million of its IPO proceeds to repay debt and >> the remainder for general corporate purposes. >> >> Emergency Medical initially set terms of its offering on Oct. 19. Although >> nearly two months may seem like a long time, it is not unusual for a company >> to take that long to hit the markets, especially if there is an intervening >> holiday, said Hase, an analyst with Renaissance Capital, a >> Greenwich, Conn., provider of independent research on initial public >> offerings. >> >> Emergency Medical will be hitting the markets during a busy week for IPOs, >> Hase said. " The IPO market has picked up, " she said. >> >> Underwriters for the offering include some of Wall Street's heaviest hitters >> - Banc of America Securities, JP, CIBC World Markets, Credit Suisse >> First Boston and Goldman Sachs & Co. >> >> In February, an investor group led by Onex Partners LP and Onex Corp., along >> with management, purchased AMR and EmCare for $828.8 million from Laidlaw >> International, a Canadian holding company that had acquired the two firms in >> 1997. >> >> >> >> >> >> Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 11, 2005 Report Share Posted December 11, 2005 All employees and medical directors were given the opportunity to purchase stock at very favorable terms several months ago in anticipation of the company going public. I hope everyone took advantage of this generous offer. The entire company will be owned by the shareholders as a result of the public offering. Larry MD > Do shareholders get an extra bump in run priority? Maybe my Priority > 3 general sickness will be a Priority 2 now if I buy 100 shares? > Maybe a Priority 1 if I buy 1000 shares? > > More importantly, are current employees being given options on the > stock (equity options), so that the company can be " employee owned " ? > > How much of the actual company is being given up for sale, percentage > wise, to stockholders? Is it a controlling share? > > Mike > > >> >> Medical-services company going public this week >> >> >> >> >> >> By Aldo Svaldi >> Denver Post Staff Writer >> DenverPost.com >> >> >> >> >> >> Emergency Medical Services Corp. plans to go public this week in an initial >> stock offering. >> >> The Greenwood Village company plans to offer 7.8 million shares priced at >> between $15 and $17 a share. Those shares will trade on the New York Stock >> Exchange under the ticker EMS. >> >> Emergency Medical provides private ambulance services under the AMR brand >> and emergency-room services under the EmCare brand. >> >> " AMR has an 8 percent share of the total ambulance services market and a 21 >> percent share of the private provider ambulance market, with net revenue >> approximately twice that of our only national competitor, " the company said >> in its filings. During fiscal 2004, AMR treated and transported about 3.7 >> million patients in 34 states. >> >> For the fiscal year ended Aug. 31, the company generated net revenue of $1.6 >> billion and net income of $37.3 million. >> >> The company plans to use $100 million of its IPO proceeds to repay debt and >> the remainder for general corporate purposes. >> >> Emergency Medical initially set terms of its offering on Oct. 19. Although >> nearly two months may seem like a long time, it is not unusual for a company >> to take that long to hit the markets, especially if there is an intervening >> holiday, said Hase, an analyst with Renaissance Capital, a >> Greenwich, Conn., provider of independent research on initial public >> offerings. >> >> Emergency Medical will be hitting the markets during a busy week for IPOs, >> Hase said. " The IPO market has picked up, " she said. >> >> Underwriters for the offering include some of Wall Street's heaviest hitters >> - Banc of America Securities, JP, CIBC World Markets, Credit Suisse >> First Boston and Goldman Sachs & Co. >> >> In February, an investor group led by Onex Partners LP and Onex Corp., along >> with management, purchased AMR and EmCare for $828.8 million from Laidlaw >> International, a Canadian holding company that had acquired the two firms in >> 1997. >> >> >> >> >> >> Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 12, 2005 Report Share Posted December 12, 2005 Wouldn't this be true of any corporation?--That the entire company would be owned by its shareholders. Conley Harmon > The entire company will be owned by the shareholders as a result of the > public offering. Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 12, 2005 Report Share Posted December 12, 2005 Thanks for the Great advice Santa !!!!! Re: Re: AMR to go public All employees and medical directors were given the opportunity to purchase stock at very favorable terms several months ago in anticipation of the company going public. I hope everyone took advantage of this generous offer. The entire company will be owned by the shareholders as a result of the public offering. Larry MD > Do shareholders get an extra bump in run priority? Maybe my Priority > 3 general sickness will be a Priority 2 now if I buy 100 shares? Maybe > a Priority 1 if I buy 1000 shares? > > More importantly, are current employees being given options on the > stock (equity options), so that the company can be " employee owned " ? > > How much of the actual company is being given up for sale, percentage > wise, to stockholders? Is it a controlling share? > > Mike > > >> >> Medical-services company going public this week >> >> >> >> >> >> By Aldo Svaldi >> Denver Post Staff Writer >> DenverPost.com >> >> >> >> >> >> Emergency Medical Services Corp. plans to go public this week in an >> initial stock offering. >> >> The Greenwood Village company plans to offer 7.8 million shares >> priced at between $15 and $17 a share. Those shares will trade on the >> New York Stock Exchange under the ticker EMS. >> >> Emergency Medical provides private ambulance services under the AMR >> brand and emergency-room services under the EmCare brand. >> >> " AMR has an 8 percent share of the total ambulance services market >> and a 21 percent share of the private provider ambulance market, with >> net revenue approximately twice that of our only national >> competitor, " the company said in its filings. During fiscal 2004, AMR >> treated and transported about 3.7 million patients in 34 states. >> >> For the fiscal year ended Aug. 31, the company generated net revenue >> of $1.6 billion and net income of $37.3 million. >> >> The company plans to use $100 million of its IPO proceeds to repay >> debt and the remainder for general corporate purposes. >> >> Emergency Medical initially set terms of its offering on Oct. 19. >> Although nearly two months may seem like a long time, it is not >> unusual for a company to take that long to hit the markets, >> especially if there is an intervening holiday, said Hase, an >> analyst with Renaissance Capital, a Greenwich, Conn., provider of >> independent research on initial public offerings. >> >> Emergency Medical will be hitting the markets during a busy week for >> IPOs, Hase said. " The IPO market has picked up, " she said. >> >> Underwriters for the offering include some of Wall Street's heaviest >> hitters >> - Banc of America Securities, JP, CIBC World Markets, Credit Suisse >> First Boston and Goldman Sachs & Co. >> >> In February, an investor group led by Onex Partners LP and Onex >> Corp., along with management, purchased AMR and EmCare for $828.8 >> million from Laidlaw International, a Canadian holding company that >> had acquired the two firms in 1997. >> >> >> >> >> >> Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 12, 2005 Report Share Posted December 12, 2005 That is very true and in response to the question, " What percentage of the company will be owned by the shareholders? " Larry > > Wouldn't this be true of any corporation?--That the entire company would be > owned by its shareholders. > > Conley Harmon > > >> The entire company will be owned by the shareholders as a result of the >> public offering. > > > > > > > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 12, 2005 Report Share Posted December 12, 2005 How do we buy some of those " SHARES " ??? Mike wrote: Do shareholders get an extra bump in run priority? Maybe my Priority 3 general sickness will be a Priority 2 now if I buy 100 shares? Maybe a Priority 1 if I buy 1000 shares? More importantly, are current employees being given options on the stock (equity options), so that the company can be " employee owned " ? How much of the actual company is being given up for sale, percentage wise, to stockholders? Is it a controlling share? Mike > > Medical-services company going public this week > > > > > > By Aldo Svaldi > Denver Post Staff Writer > DenverPost.com > > > > > > Emergency Medical Services Corp. plans to go public this week in an initial > stock offering. > > The Greenwood Village company plans to offer 7.8 million shares priced at > between $15 and $17 a share. Those shares will trade on the New York Stock > Exchange under the ticker EMS. > > Emergency Medical provides private ambulance services under the AMR brand > and emergency-room services under the EmCare brand. > > " AMR has an 8 percent share of the total ambulance services market and a 21 > percent share of the private provider ambulance market, with net revenue > approximately twice that of our only national competitor, " the company said > in its filings. During fiscal 2004, AMR treated and transported about 3.7 > million patients in 34 states. > > For the fiscal year ended Aug. 31, the company generated net revenue of $1.6 > billion and net income of $37.3 million. > > The company plans to use $100 million of its IPO proceeds to repay debt and > the remainder for general corporate purposes. > > Emergency Medical initially set terms of its offering on Oct. 19. Although > nearly two months may seem like a long time, it is not unusual for a company > to take that long to hit the markets, especially if there is an intervening > holiday, said Hase, an analyst with Renaissance Capital, a > Greenwich, Conn., provider of independent research on initial public > offerings. > > Emergency Medical will be hitting the markets during a busy week for IPOs, > Hase said. " The IPO market has picked up, " she said. > > Underwriters for the offering include some of Wall Street's heaviest hitters > - Banc of America Securities, JP, CIBC World Markets, Credit Suisse > First Boston and Goldman Sachs & Co. > > In February, an investor group led by Onex Partners LP and Onex Corp., along > with management, purchased AMR and EmCare for $828.8 million from Laidlaw > International, a Canadian holding company that had acquired the two firms in > 1997. > > > > > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 12, 2005 Report Share Posted December 12, 2005 How do we buy some of those " SHARES " ??? Mike wrote: Do shareholders get an extra bump in run priority? Maybe my Priority 3 general sickness will be a Priority 2 now if I buy 100 shares? Maybe a Priority 1 if I buy 1000 shares? More importantly, are current employees being given options on the stock (equity options), so that the company can be " employee owned " ? How much of the actual company is being given up for sale, percentage wise, to stockholders? Is it a controlling share? Mike > > Medical-services company going public this week > > > > > > By Aldo Svaldi > Denver Post Staff Writer > DenverPost.com > > > > > > Emergency Medical Services Corp. plans to go public this week in an initial > stock offering. > > The Greenwood Village company plans to offer 7.8 million shares priced at > between $15 and $17 a share. Those shares will trade on the New York Stock > Exchange under the ticker EMS. > > Emergency Medical provides private ambulance services under the AMR brand > and emergency-room services under the EmCare brand. > > " AMR has an 8 percent share of the total ambulance services market and a 21 > percent share of the private provider ambulance market, with net revenue > approximately twice that of our only national competitor, " the company said > in its filings. During fiscal 2004, AMR treated and transported about 3.7 > million patients in 34 states. > > For the fiscal year ended Aug. 31, the company generated net revenue of $1.6 > billion and net income of $37.3 million. > > The company plans to use $100 million of its IPO proceeds to repay debt and > the remainder for general corporate purposes. > > Emergency Medical initially set terms of its offering on Oct. 19. Although > nearly two months may seem like a long time, it is not unusual for a company > to take that long to hit the markets, especially if there is an intervening > holiday, said Hase, an analyst with Renaissance Capital, a > Greenwich, Conn., provider of independent research on initial public > offerings. > > Emergency Medical will be hitting the markets during a busy week for IPOs, > Hase said. " The IPO market has picked up, " she said. > > Underwriters for the offering include some of Wall Street's heaviest hitters > - Banc of America Securities, JP, CIBC World Markets, Credit Suisse > First Boston and Goldman Sachs & Co. > > In February, an investor group led by Onex Partners LP and Onex Corp., along > with management, purchased AMR and EmCare for $828.8 million from Laidlaw > International, a Canadian holding company that had acquired the two firms in > 1997. > > > > > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 12, 2005 Report Share Posted December 12, 2005 How do we buy some of those " SHARES " ??? Mike wrote: Do shareholders get an extra bump in run priority? Maybe my Priority 3 general sickness will be a Priority 2 now if I buy 100 shares? Maybe a Priority 1 if I buy 1000 shares? More importantly, are current employees being given options on the stock (equity options), so that the company can be " employee owned " ? How much of the actual company is being given up for sale, percentage wise, to stockholders? Is it a controlling share? Mike > > Medical-services company going public this week > > > > > > By Aldo Svaldi > Denver Post Staff Writer > DenverPost.com > > > > > > Emergency Medical Services Corp. plans to go public this week in an initial > stock offering. > > The Greenwood Village company plans to offer 7.8 million shares priced at > between $15 and $17 a share. Those shares will trade on the New York Stock > Exchange under the ticker EMS. > > Emergency Medical provides private ambulance services under the AMR brand > and emergency-room services under the EmCare brand. > > " AMR has an 8 percent share of the total ambulance services market and a 21 > percent share of the private provider ambulance market, with net revenue > approximately twice that of our only national competitor, " the company said > in its filings. During fiscal 2004, AMR treated and transported about 3.7 > million patients in 34 states. > > For the fiscal year ended Aug. 31, the company generated net revenue of $1.6 > billion and net income of $37.3 million. > > The company plans to use $100 million of its IPO proceeds to repay debt and > the remainder for general corporate purposes. > > Emergency Medical initially set terms of its offering on Oct. 19. Although > nearly two months may seem like a long time, it is not unusual for a company > to take that long to hit the markets, especially if there is an intervening > holiday, said Hase, an analyst with Renaissance Capital, a > Greenwich, Conn., provider of independent research on initial public > offerings. > > Emergency Medical will be hitting the markets during a busy week for IPOs, > Hase said. " The IPO market has picked up, " she said. > > Underwriters for the offering include some of Wall Street's heaviest hitters > - Banc of America Securities, JP, CIBC World Markets, Credit Suisse > First Boston and Goldman Sachs & Co. > > In February, an investor group led by Onex Partners LP and Onex Corp., along > with management, purchased AMR and EmCare for $828.8 million from Laidlaw > International, a Canadian holding company that had acquired the two firms in > 1997. > > > > > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 12, 2005 Report Share Posted December 12, 2005 > All employees and medical directors were given the opportunity to purchase > stock at very favorable terms several months ago in anticipation of the > company going public. I hope everyone took advantage of this generous > offer. > > The entire company will be owned by the shareholders as a result of the > public offering. While this is technically true, look at the division of voting rights amongst the classes of shareholders, and how much of the actual control is being given up to stockholders. Not that this isn't common - and not that it's nefarious or any other such thing... but the simple fact is that the offering is designed to raise money without giving up any substantial control of the company. Thus, even if employees owned ALL of the Class A stock, they'd still only have 2.3 percent or so of voting power, so " employee owned " doesn't mean anything for employees actually being able to exercise influence or control. Buyer beware. And, taxpayer beware. If you contract with AMR/EMCare, you're contracting with someone whose first and foremost dedication will be to profit and stockholder value, NOT what's best for your community. AMR/EMCare *WILL NOT* stay in unprofitable areas without cutting service levels to the point that profit can be made, or they'll pull out like AMR and many other private EMS organizations have done in the past. I'm not saying anything about ethics, or that being unethical - in fact, I'd venture to say that EMCare running AMR makes them significantly less likely to make poor medical decisions... but they'll have to choose profit over providing continuing care each and every time. Mike :/ Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 13, 2005 Report Share Posted December 13, 2005 Yes it would, but how the shares are distributed is a different story. Less than 20% of the company is up for " grabs " in this IPO. Tater Conley Harmon wrote: Wouldn't this be true of any corporation?--That the entire company would be owned by its shareholders. Conley Harmon > The entire company will be owned by the shareholders as a result of the > public offering. Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 13, 2005 Report Share Posted December 13, 2005 Yes it would, but how the shares are distributed is a different story. Less than 20% of the company is up for " grabs " in this IPO. Tater Conley Harmon wrote: Wouldn't this be true of any corporation?--That the entire company would be owned by its shareholders. Conley Harmon > The entire company will be owned by the shareholders as a result of the > public offering. Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 13, 2005 Report Share Posted December 13, 2005 Yes it would, but how the shares are distributed is a different story. Less than 20% of the company is up for " grabs " in this IPO. Tater Conley Harmon wrote: Wouldn't this be true of any corporation?--That the entire company would be owned by its shareholders. Conley Harmon > The entire company will be owned by the shareholders as a result of the > public offering. Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 13, 2005 Report Share Posted December 13, 2005 Are your best camera companies (Sony, Canon) or automobile companies (Honda, Toyota) run by municipalities and non-profit organizations or by strong for-profit corporations? Nuf said, Larry > >> All employees and medical directors were given the opportunity to purchase >> stock at very favorable terms several months ago in anticipation of the >> company going public. I hope everyone took advantage of this generous >> offer. >> >> The entire company will be owned by the shareholders as a result of the >> public offering. > > While this is technically true, look at the division of voting rights > amongst the classes of shareholders, and how much of the actual > control is being given up to stockholders. Not that this isn't common > - and not that it's nefarious or any other such thing... but the > simple fact is that the offering is designed to raise money without > giving up any substantial control of the company. Thus, even if > employees owned ALL of the Class A stock, they'd still only have 2.3 > percent or so of voting power, so " employee owned " doesn't mean > anything for employees actually being able to exercise influence or > control. > > Buyer beware. And, taxpayer beware. If you contract with AMR/EMCare, > you're contracting with someone whose first and foremost dedication > will be to profit and stockholder value, NOT what's best for your > community. AMR/EMCare *WILL NOT* stay in unprofitable areas without > cutting service levels to the point that profit can be made, or > they'll pull out like AMR and many other private EMS organizations > have done in the past. I'm not saying anything about ethics, or that > being unethical - in fact, I'd venture to say that EMCare running AMR > makes them significantly less likely to make poor medical decisions... > but they'll have to choose profit over providing continuing care each > and every time. > > Mike :/ > > > > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 13, 2005 Report Share Posted December 13, 2005 Are your best camera companies (Sony, Canon) or automobile companies (Honda, Toyota) run by municipalities and non-profit organizations or by strong for-profit corporations? Nuf said, Larry > >> All employees and medical directors were given the opportunity to purchase >> stock at very favorable terms several months ago in anticipation of the >> company going public. I hope everyone took advantage of this generous >> offer. >> >> The entire company will be owned by the shareholders as a result of the >> public offering. > > While this is technically true, look at the division of voting rights > amongst the classes of shareholders, and how much of the actual > control is being given up to stockholders. Not that this isn't common > - and not that it's nefarious or any other such thing... but the > simple fact is that the offering is designed to raise money without > giving up any substantial control of the company. Thus, even if > employees owned ALL of the Class A stock, they'd still only have 2.3 > percent or so of voting power, so " employee owned " doesn't mean > anything for employees actually being able to exercise influence or > control. > > Buyer beware. And, taxpayer beware. If you contract with AMR/EMCare, > you're contracting with someone whose first and foremost dedication > will be to profit and stockholder value, NOT what's best for your > community. AMR/EMCare *WILL NOT* stay in unprofitable areas without > cutting service levels to the point that profit can be made, or > they'll pull out like AMR and many other private EMS organizations > have done in the past. I'm not saying anything about ethics, or that > being unethical - in fact, I'd venture to say that EMCare running AMR > makes them significantly less likely to make poor medical decisions... > but they'll have to choose profit over providing continuing care each > and every time. > > Mike :/ > > > > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 13, 2005 Report Share Posted December 13, 2005 Come on, doc! I happen to work for a profitable EMS company part-time. Our difference? We don't do 911, and we don't do transfers. We do event medicine. For the work we do, it's " elective " EMS - even if it's required by contract, the customer is required to purchase service, and we're providing it at a built-in profit rate. 911, on the other hand, and to an extent emergnecy transfers, are not predictable enough to be able to guarantee profits, and once you make a commitment to serve an area, you run the risk of doing so at a loss. As for the large corporations - Microsoft, Sony, Honda, Canon, etc. - they sell a product (or service or both) that's entirely elective and operate in a fully competitive market. While there certainly exists price pressures, in the long run these companies price their products to make money, and market their products to consumers in such a way as to create sales. It's rather hard to convince someone to hurt themselves or get themselves sick and ignore primary medical care long for the sole purpose of biling them to take them for care. It's a lot less hard to create a need for a product and market it to a segment of consumers that have the ability to purchase it. Apples and Oranges. Bottom line? 911, and emergency transfers, are unpredictable and generally carry enough " business risK " for loss vs profit that a for-profit company will be forced, at some point or some level, to make choices that involve profit vs service level - and profit will have to win; otherwise, you'll see the company pull out - like we usually do with for-profit EMS... then the governments that would have been providing the service all along are " behind the curve " and playing catchup to provide service that they should have been providing all along, but decided to " cheap out " on and contract out to someone else - regardless of how good the government or the private provider's intentions were all along. Private EMS isn't evil, it's just not a safe investment - which is why it needs to be government mandated, government funded, and government run. Mike > Are your best camera companies (Sony, Canon) or automobile companies (Honda, > Toyota) run by municipalities and non-profit organizations or by strong > for-profit corporations? > > Nuf said, Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 13, 2005 Report Share Posted December 13, 2005 Come on, doc! I happen to work for a profitable EMS company part-time. Our difference? We don't do 911, and we don't do transfers. We do event medicine. For the work we do, it's " elective " EMS - even if it's required by contract, the customer is required to purchase service, and we're providing it at a built-in profit rate. 911, on the other hand, and to an extent emergnecy transfers, are not predictable enough to be able to guarantee profits, and once you make a commitment to serve an area, you run the risk of doing so at a loss. As for the large corporations - Microsoft, Sony, Honda, Canon, etc. - they sell a product (or service or both) that's entirely elective and operate in a fully competitive market. While there certainly exists price pressures, in the long run these companies price their products to make money, and market their products to consumers in such a way as to create sales. It's rather hard to convince someone to hurt themselves or get themselves sick and ignore primary medical care long for the sole purpose of biling them to take them for care. It's a lot less hard to create a need for a product and market it to a segment of consumers that have the ability to purchase it. Apples and Oranges. Bottom line? 911, and emergency transfers, are unpredictable and generally carry enough " business risK " for loss vs profit that a for-profit company will be forced, at some point or some level, to make choices that involve profit vs service level - and profit will have to win; otherwise, you'll see the company pull out - like we usually do with for-profit EMS... then the governments that would have been providing the service all along are " behind the curve " and playing catchup to provide service that they should have been providing all along, but decided to " cheap out " on and contract out to someone else - regardless of how good the government or the private provider's intentions were all along. Private EMS isn't evil, it's just not a safe investment - which is why it needs to be government mandated, government funded, and government run. Mike > Are your best camera companies (Sony, Canon) or automobile companies (Honda, > Toyota) run by municipalities and non-profit organizations or by strong > for-profit corporations? > > Nuf said, Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 14, 2005 Report Share Posted December 14, 2005 Larry, Camera companies and automobile manufacturers are by their very nature for profit endeavors. They have great ability to affect the marketability of their products (new and innovative designs, safety equipment, and creature comforts). They can refuse to sell you a product if you can’t (or won’t) pay their asking price. They do not have to have approval from an insurance company, HMO, PPO, or Medicare to set their pricing. They are not forced to provide an expensive service to every customer that walks on the showroom floor. You are comparing apples and oranges my friend, Tater Larry wrote: Are your best camera companies (Sony, Canon) or automobile companies (Honda, Toyota) run by municipalities and non-profit organizations or by strong for-profit corporations? Nuf said, Larry > >> All employees and medical directors were given the opportunity to purchase >> stock at very favorable terms several months ago in anticipation of the >> company going public. I hope everyone took advantage of this generous >> offer. >> >> The entire company will be owned by the shareholders as a result of the >> public offering. > > While this is technically true, look at the division of voting rights > amongst the classes of shareholders, and how much of the actual > control is being given up to stockholders. Not that this isn't common > - and not that it's nefarious or any other such thing... but the > simple fact is that the offering is designed to raise money without > giving up any substantial control of the company. Thus, even if > employees owned ALL of the Class A stock, they'd still only have 2.3 > percent or so of voting power, so " employee owned " doesn't mean > anything for employees actually being able to exercise influence or > control. > > Buyer beware. And, taxpayer beware. If you contract with AMR/EMCare, > you're contracting with someone whose first and foremost dedication > will be to profit and stockholder value, NOT what's best for your > community. AMR/EMCare *WILL NOT* stay in unprofitable areas without > cutting service levels to the point that profit can be made, or > they'll pull out like AMR and many other private EMS organizations > have done in the past. I'm not saying anything about ethics, or that > being unethical - in fact, I'd venture to say that EMCare running AMR > makes them significantly less likely to make poor medical decisions... > but they'll have to choose profit over providing continuing care each > and every time. > > Mike :/ > > > > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 14, 2005 Report Share Posted December 14, 2005 Larry, Camera companies and automobile manufacturers are by their very nature for profit endeavors. They have great ability to affect the marketability of their products (new and innovative designs, safety equipment, and creature comforts). They can refuse to sell you a product if you can’t (or won’t) pay their asking price. They do not have to have approval from an insurance company, HMO, PPO, or Medicare to set their pricing. They are not forced to provide an expensive service to every customer that walks on the showroom floor. You are comparing apples and oranges my friend, Tater Larry wrote: Are your best camera companies (Sony, Canon) or automobile companies (Honda, Toyota) run by municipalities and non-profit organizations or by strong for-profit corporations? Nuf said, Larry > >> All employees and medical directors were given the opportunity to purchase >> stock at very favorable terms several months ago in anticipation of the >> company going public. I hope everyone took advantage of this generous >> offer. >> >> The entire company will be owned by the shareholders as a result of the >> public offering. > > While this is technically true, look at the division of voting rights > amongst the classes of shareholders, and how much of the actual > control is being given up to stockholders. Not that this isn't common > - and not that it's nefarious or any other such thing... but the > simple fact is that the offering is designed to raise money without > giving up any substantial control of the company. Thus, even if > employees owned ALL of the Class A stock, they'd still only have 2.3 > percent or so of voting power, so " employee owned " doesn't mean > anything for employees actually being able to exercise influence or > control. > > Buyer beware. And, taxpayer beware. If you contract with AMR/EMCare, > you're contracting with someone whose first and foremost dedication > will be to profit and stockholder value, NOT what's best for your > community. AMR/EMCare *WILL NOT* stay in unprofitable areas without > cutting service levels to the point that profit can be made, or > they'll pull out like AMR and many other private EMS organizations > have done in the past. I'm not saying anything about ethics, or that > being unethical - in fact, I'd venture to say that EMCare running AMR > makes them significantly less likely to make poor medical decisions... > but they'll have to choose profit over providing continuing care each > and every time. > > Mike :/ > > > > > Quote Link to comment Share on other sites More sharing options...
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