The US medical aviation company Air Methods has agreed to be bought by the private equity firm American Securities for $43.00 per share in cash. That represents a 20.4 per cent premium to Air Methods’ stock price of $35.70 on January 31. The deal is valued at approximately $2.5 billion, including net debt. “American Securities offers us a great opportunity to continue to invest and pursue long-term growth with greater operational flexibility,” said Aaron Todd, the chief executive. Air Methods is the largest US air medical transport provider in the $5bn air medical market, where pilots are regarded as among the best flyers in the air. Air Methods serves 48 states with over 300 bases of operations. The company also operates an air tourism business. “We strongly believe in Air Methods’ strategic direction and the opportunities to grow the company’s leading positions in the attractive air medical and air tourism markets,” said Marc L Saiontz, a managing director of American Securities. Air Methods’ United Rotorcraft division specialises in the design and manufacture of aeromedical and aerospace technology. The units external revenue declined by 34.2 per cent to $4.9 million in the fourth quarter compared with $7.4m in the prior-year quarter. The firm’s tourism division is comprised of Sundance Helicopters and Blue Hawaiian Helicopters, which provide helicopter tours and charter flights in the Las Vegas/Grand Canyon region and Hawaii, respectively. The firm’s tourism revenues increased 2.5 per cent to $29.6m in the fourth quarter compared to $28.9m in the year-earlier quarter. Air Methods’ fleet of owned, leased or maintained aircraft features approximately 500 helicopters and fixed-wing aircraft. For the fourth quarter, its Air Medical Services unit revenue increased 11.4 per cent to $262.9m from $236m in the same quarter a year earlier. “We are confident that today’s announcement represents the best path forward for all of Air Methods’ stakeholders,” said C David Kikumoto, Air Methods’ chairman. chnelson@thenational.ae Follow The National's Business section on <a href="https://twitter.com/Ind_Insights">Twitter</a>