Medical helicopter company Air Methods files for bankruptcy

SaltWire's Atlantic regional weather forecast for October 24, 2023 | SaltWireNEW YORK - Air Methods, a private equity-owned medical helicopter company, filed for bankruptcy protection on Tuesday with a plan to cut $1.7 billion in debt.

Air Methods' lenders are expected to control the company when it emerges from bankruptcy, and American Securities' current 95% equity stake will be wiped out. Air Methods, like other private equity-owned emergency medical services companies that have filed for bankruptcy in recent months, blamed the federal No Surprise Act for creating"red tape" that impaired its ability to collect payments from health insurers.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

SaltWire Network /  🏆 45. in AU

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Medical helicopter company Air Methods files for bankruptcyAir Methods, a private equity-owned medical helicopter company, filed for bankruptcy protection on Tuesday with a plan to cut $1.7 billion in debt. Air...
Read more »