Guest guest Posted August 30, 2004 Report Share Posted August 30, 2004 AMR isn't hurting as far as I know. Judging by the financials listed in the article, it seems to be true. EMS Insider August Featured Article Laidlaw Selling American Medical Response By Mannie Garza According to a story in The Deal, Laidlaw International put American Medical Response (AMR), the nation's largest ambulance company, on the auction block in August. Laidlaw is also auctioning off EmCare, its emergency physician practice group. A high-end business newsletter, The Deal, reported Aug. 19 that " top- tier private equity firms including Bain Capital LLC, Cypress Group, Carlyle Group and H. Lee Partners LP placed first-round bids for the companies in early August. Second round bids are expected in September. " Stanley is running the auction. Sides, AMR vice president for corporate communications, had no comment, and Laidlaw did not return calls seeking comment. The Deal speculated that Laidlaw could reap between $720 million and $920 million from the combined sale of AMR and EmCare. Laidlaw purchased AMR in 1996 for $1.1 billion and paid $400 million for EmCare a year later. The newsletter also reported that Laidlaw's most recent Security and Exchange Commission filing indicates that A. Sanger, chief executive officer of both AMR and EmCare, will receive a bonus equal to 5% of the enterprise value of AMR in excess of $410 million and 5% of the enterprise value of EmCare above $125 million if Laidlaw sells those companies. Laidlaw's most recent quarterly report shows AMR's revenues rose to $265.6 million in the third quarter of 2004 from $259.8 million in the third quarter of 2003. AMR brought in $790 million in the nine months ending May 31 compared to $759.3 million in the nine months ending May 31, 2003. Watch the EMS Insider for more news as this story evolves. Quote Link to comment Share on other sites More sharing options...
Guest guest Posted August 30, 2004 Report Share Posted August 30, 2004 --- Eddie wrote: > AMR isn't hurting as far as I know. Judging by the financials listed > in the article, it seems to be true. Really? This article doesn't list enough to make that assumption. Let's look at what it DOES say: > The Deal speculated that Laidlaw could reap between $720 million and > $920 million from the combined sale of AMR and EmCare. Laidlaw > purchased AMR in 1996 for $1.1 billion and paid $400 million for > EmCare a year later. > > The newsletter also reported that Laidlaw's most recent Security and > Exchange Commission filing indicates that A. Sanger, chief > executive officer of both AMR and EmCare, will receive a bonus equal > to 5% of the enterprise value of AMR in excess of $410 million and 5% > of the enterprise value of EmCare above $125 million if Laidlaw sells > those companies. So they're selling these companies AT A LOSS (~$250MM for EMCare, ~$250MM for AMR - alltogether a loss of $500MM on both). Also, they've pretty much exposed their " floor " price - $410MM for AMR and $125MM for EMCare, which if they sold at that price would be closer to a BILLION dollar loss. > Laidlaw's most recent quarterly report shows AMR's revenues rose to > $265.6 million in the third quarter of 2004 from $259.8 million in > the third quarter of 2003. AMR brought in $790 million in the nine > months ending May 31 compared to $759.3 million in the nine months > ending May 31, 2003. What were their operating expenses? Were they net profit or net loss? My guess is that they're net loss. Someone else on here can do the research on that... I don't have time. Mike __________________________________________________ Quote Link to comment Share on other sites More sharing options...
Guest guest Posted August 30, 2004 Report Share Posted August 30, 2004 --- Eddie wrote: > AMR isn't hurting as far as I know. Judging by the financials listed > in the article, it seems to be true. Really? This article doesn't list enough to make that assumption. Let's look at what it DOES say: > The Deal speculated that Laidlaw could reap between $720 million and > $920 million from the combined sale of AMR and EmCare. Laidlaw > purchased AMR in 1996 for $1.1 billion and paid $400 million for > EmCare a year later. > > The newsletter also reported that Laidlaw's most recent Security and > Exchange Commission filing indicates that A. Sanger, chief > executive officer of both AMR and EmCare, will receive a bonus equal > to 5% of the enterprise value of AMR in excess of $410 million and 5% > of the enterprise value of EmCare above $125 million if Laidlaw sells > those companies. So they're selling these companies AT A LOSS (~$250MM for EMCare, ~$250MM for AMR - alltogether a loss of $500MM on both). Also, they've pretty much exposed their " floor " price - $410MM for AMR and $125MM for EMCare, which if they sold at that price would be closer to a BILLION dollar loss. > Laidlaw's most recent quarterly report shows AMR's revenues rose to > $265.6 million in the third quarter of 2004 from $259.8 million in > the third quarter of 2003. AMR brought in $790 million in the nine > months ending May 31 compared to $759.3 million in the nine months > ending May 31, 2003. What were their operating expenses? Were they net profit or net loss? My guess is that they're net loss. Someone else on here can do the research on that... I don't have time. Mike __________________________________________________ Quote Link to comment Share on other sites More sharing options...
Guest guest Posted August 30, 2004 Report Share Posted August 30, 2004 --- Eddie wrote: > AMR isn't hurting as far as I know. Judging by the financials listed > in the article, it seems to be true. Really? This article doesn't list enough to make that assumption. Let's look at what it DOES say: > The Deal speculated that Laidlaw could reap between $720 million and > $920 million from the combined sale of AMR and EmCare. Laidlaw > purchased AMR in 1996 for $1.1 billion and paid $400 million for > EmCare a year later. > > The newsletter also reported that Laidlaw's most recent Security and > Exchange Commission filing indicates that A. Sanger, chief > executive officer of both AMR and EmCare, will receive a bonus equal > to 5% of the enterprise value of AMR in excess of $410 million and 5% > of the enterprise value of EmCare above $125 million if Laidlaw sells > those companies. So they're selling these companies AT A LOSS (~$250MM for EMCare, ~$250MM for AMR - alltogether a loss of $500MM on both). Also, they've pretty much exposed their " floor " price - $410MM for AMR and $125MM for EMCare, which if they sold at that price would be closer to a BILLION dollar loss. > Laidlaw's most recent quarterly report shows AMR's revenues rose to > $265.6 million in the third quarter of 2004 from $259.8 million in > the third quarter of 2003. AMR brought in $790 million in the nine > months ending May 31 compared to $759.3 million in the nine months > ending May 31, 2003. What were their operating expenses? Were they net profit or net loss? My guess is that they're net loss. Someone else on here can do the research on that... I don't have time. Mike __________________________________________________ Quote Link to comment Share on other sites More sharing options...
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