Air Methods Receives $17 Million Contract from Sikorsky Aircraft Company
DENVER, Oct. 27 -- Air Methods Corporation (Nasdaq: AIRM), the largest air medical transportation company in the world, today announced its Products Division has been awarded a contract in excess of $17 million from Sikorsky Aircraft Company for production of 48 HH-60M Black Hawk Multi-Mission Medevac Interior Systems. Production has started and is anticipated to be completed by the third quarter 2010.
"Through this contract, Air Methods is pleased to continue to be part of the U.S. Army's historic efforts to modernize its air ambulance fleet," said Art Torwirt, vice president, Air Methods Products Division. "Our interior system allows this proven airframe to convert from one configuration to another in a matter of minutes which maximizes the effectiveness, utility, and overall value of the HH-60M."
The HH-60M is the medical evacuation configuration of the newest version of the Black Hawk. The HH-60M provides additional payload and range, advanced digital avionics, better handling, active vibration control and improved survivability over past versions. The aircraft can support medical, personnel or cargo transport missions and is equipped with state-of-the-art medical systems to provide critical care for up to six patients. Medical systems include a Patient Loading System, an on-board oxygen generation system, medical suction, patient monitors and high intensity NVG compatible lighting. The aircraft is also equipped with advanced avionics and special mission systems to assist the crew in locating and rescuing injured personnel. Specialized equipment includes a Forward Looking Infrared (FLIR) system and an external rescue hoist.
Air Methods Corporation (http://www.airmethods.com) is a leader in emergency air medical transportation and medical services. The Hospital Based Services Division is the largest provider of air medical transport services for hospitals. The Community Based Services Division is the largest community-based provider of air medical services. The Products Division specializes in the design and manufacture of aeromedical and aerospace technology. The Company's fleet of owned, leased or maintained aircraft features over 320 helicopters and fixed wing aircraft.
Forward Looking Statements: This news release includes certain forward-looking statements, which are subject to various risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors, including but not limited to the integration of CJ into our existing operations, the size, structure and growth of the Company's air medical services and products markets; the collection rates for patient transports; the continuation and/or renewal of air medical service contracts; the acquisition of profitable Products Division contracts and other flight service operations; the successful expansion of the community-based operations; and other matters set forth in the Company's public filings.
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