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Omniflight have long histories in the industry and, together, the two companies will bring even stronger service to local communities across the coun- try. We are confident this will bring benefits to the customers and employees of Omniflight and are thrilled at the opportu- nity to join Air Methods," stat- ed Tom Leverton, CEO of Omniflight.

Air Methods Acquires Omniflight Helicopters, Inc.

Air Methods Corporation, the largest air medical trans- portation company in the world, announced that it has entered into a definitive merger agree- ment (the Agreement) to acquire OF Air Holdings Corporation and its subsidiaries, including Omniflight Helicopters, Inc. Omniflight provides air medical transport services throughout the United States and provides these services under both the community- based and hospital-based service delivery models, utilizing a fleet of approximately 100 helicopters and fixed-wing aircraft. Omniflight is headquartered in Addison, Texas, with operations in 18 states involving over 75 base locations.

Air Methods will acquire Omniflight for an aggregate purchase price of $200 million in cash on a cash-free, debt-free basis, subject to working capital and other adjustments as pro- vided in the Agreement. Upon closing, Omniflight will become a wholly-owned subsidiary of Air Methods. The Agreement has been unanimously approved by


the boards of directors of both companies. The transaction is contingent upon clearance under the Hart-Scott Rodino Anti-Trust Improvements Act and certain other closing con- ditions. The transaction is expected to close in July 2011. Omniflight generated unau- dited consolidated revenue of $172 million for the fiscal year which ended March 31. The Company expects to fund the purchase price through a new commercial bank credit facility. "We are excited and pleased to have this opportunity to unite these two industry lead- ers. The operational efficien- cies that this combination should create will allow both entities to maintain and enhance the quality of our serv- ices, while providing for a more competitive cost structure resulting from greater economies of scale. The geo- graphical service areas of both entities are very complementary and improve the combined entity's ability to maintain important resources closer to our customers and their com- munities," said Aaron Todd, CEO for Air Methods. "Air Methods and


In connection with the transaction, Oppenheimer & Co. Inc. acted as financial advi- sor and Davis Graham & Stubbs LLP served as legal advisor to Air Methods. ◆

Airwolf Aerospace Gains STC Approval for Bell 206 Torsion-Tension Straps

Airwolf Aerospace, a value- leader in certified PMA/FAA parts and systems for the fixed- wing and helicopter markets, has earned Supplemental Type Certification (STC) from the FAA for its recently PMA- approved Torsion-Tension (TT) Straps for Bell 206 Jet Ranger, 206L Long Ranger and OH 58 helicopters, civilian and military. “This move allows the com- pany to certificate our TT Straps under the European Aviation Safety Association (EASA) and other offshore reg- ulation agencies,” according to John Montana, Airwolf’s senior engineer. “Europe, Brazil and other countries and juris- dictions do not recognize FAA-PMA parts as

acceptable without accompany- ing STC credentials,” Montana said. “Now the sizable offshore markets are open to us.” Airwolf’s TT straps anchor each rotor blade to the mast while accommodating the multi-directional forces inher- ent in rotorcraft flight. They are manufactured using a spe- cially designed, proprietary process to far better accommo- date the torsion and tension requirements of the rotor hub. “The development of Airwolf’s new Torsion-Tension Straps is the result of more than seven years of R&D. We have created a product that is techni- cally superior and significantly less expensive than those from the factory,” Montana added. Airwolf straps are the only alternatives to the previously monopolized factory offering. They are approved for all Jet Rangers, Long Rangers and military OH 58s and can be installed in the field by a licensed engineer. The STC (SR02964CH) is

recognized as a certification basis for offshore applications such as those regulated by EASA, and reaffirms Airwolf’s commitment to make its TT Straps available to all Bell 206 helicopters. ◆

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