EMSC acquires U.S. anesthesiology service providers

Emergency Medical Services Corporation (NYSE: EMS) (the “Company”) today announced that it has completed its acquisition of Pinnacle Consultants Mid Atlantic and the management services company of Pinnacle Anesthesia Consultants, P.A. (the “MSO”).

“With this acquisition, AnesthesiaCare is now positioned as a leading provider of anesthesia management services. Pinnacle is a strong, well managed company. Our new affiliation with Pinnacle enhances our position as a leader in the growing outsourced physician services market.”

Pinnacle Anesthesia Consultants and Pinnacle Consultants Mid Atlantic are leading anesthesiology services providers in the United States consisting of more than 700 clinicians serving in excess of 75 hospitals and ambulatory surgery centers and have patient revenues in excess of $300 million.

At closing, the MSO and Pinnacle Consultants Mid Atlantic became part of AnesthesiaCare, EMSC’s anesthesiology services operation, and the MSO, under AnesthesiaCare, is the exclusive provider of management services to Pinnacle Anesthesia Consultants. These transactions are expected to contribute approximately $100 million in new EMSC net revenue from management fees and patient billings.

William A. Sanger, EMSC Chairman and Chief Executive Officer, said, “With this acquisition, AnesthesiaCare is now positioned as a leading provider of anesthesia management services. Pinnacle is a strong, well managed company. Our new affiliation with Pinnacle enhances our position as a leader in the growing outsourced physician services market.”

Michael Hicks M.D., CEO of Pinnacle, said, “We are excited about the opportunities for growth that result from the acquisition and our new affiliation with EMSC. The combined expertise of Pinnacle’s MSO staff and the EMSC staff will even better serve the needs of anesthesia clients. In a short time AnesthesiaCare has positioned itself as a high quality, cost-effective provider of anesthesiology, pain medicine and perioperative services. Under our new arrangement, we believe both Pinnacle and AnesthesiaCare will provide an excellent value proposition for new and existing clients.”

The transaction was completed on December 18, 2009. AnesthesiaCare is now a leading manager of anesthesia practices in the nation, providing services to more than 130 hospitals in nine states, which will include recruitment of physicians and certified registered nurse anesthetists, risk management, credentialing services, billing and collection, perioperative clinical and process management as well as other services.