Healthcare Providers and Services
Company Overview of American Medical Response, Inc.
Company Overview
6200 South Syracuse Way
National Resource Center
Suite 200
Greenwood Village, CO 80111
United States
Founded in 1992
Key Executives for American Medical Response, Inc.
American Medical Response, Inc. Key Developments
EMSC announced the departure of American Medical Response, Inc.'s president Mark Bruning. Sanger said Bruning will continue to serve as an adviser to the company. Bruning has worked with AMR for 30 years, beginning as an EMT. He is the first field caregiver to lead AMR in the company's history. He joined the company after several years' service in the U.S. Navy. Bruning's departure as president is effective January 14. Sanger will assume his duties on an interim basis.
American Medical Response, Inc. announced that they have signed a multi-year agreement with Aetna naming the company as one of Aetna's national providers for ground and air ambulance services. The company's operations across the nation began providing services under the agreement October 1, 2012. This national agreement with the company enhances Aetna's ability to offer its members quality providers for health care services.
American Medical Response, Inc. reported earnings results for the second quarter of the year 2012. The company’s net revenue was $332.2 million, a decrease of 8.6%. This decrease was attributable primarily to the exit in contracts and the Kaiser changes that Bill just noted. The company’s adjusted EBITDA for the second quarter was $32.6 million, compared to $31.8 million last year. Adjusted EBITDA margin was 9.8%, compared to 8.8% in the prior year. This margin increase is due primarily to lower compensation and benefits and insurance as a percentage of net revenue. Comp and benefits decreased 50 basis points as a percentage of net revenue due to improvements in deployment efficiency and expense management, a reduction in health insurance claims in the quarter and the impact of exited contracts in the last 12 months. Insurance expense includes an increase of $1.8 million in the quarter for prior period development, compared to an increase in second quarter of 2011 of $4.1 million. At the company, saw an 8.6% revenue decline compared to the same quarter last year as a result of the following: number one, approximately 6.5% of this decline was due to the previously discussed 9-1-1 contract exits in Alameda and Santa Clara counties in California. And secondly, approximately 3% of this change was from the newly executed agreement with Kaiser Permanente. By way of background, Kaiser's recent RFP call for a movement from a national single provider to multiple regional contracting with the intent of including multiple providers throughout the country. The company anticipates comparative revenue declines for the second six months of the year 2012, there are significant growth opportunities, including several 9-1-1s, which believe hold promise for the future. Some of these include the Cobb County, Georgia; San Diego, California; and Knox County, Tennessee.
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