Emergency Medical Services Corp. Mar 09
Standard & Poors, March 2009
Abstract
Revenue diversity from its two different businesses; Leading position in both of its businesses; Diverse payor and contract mix; and Ample liquidity to fund its operations and strong cash flow generation for the rating. Exposure to cuts in reimbursement from Medicare; Medicaid, and commercial payors; Exposure to increased bad debt; and High levels of uncompensated care. The speculative-grade rating on Greenwood Village, Colo.-based Emergency Medical Services Corp. (EMSC), which has subsidiaries operating in the fragmented ambulance transportation (American Medical Response (AMR); 57% of revenues) and physician staffing (EmCare; 43% of revenues) industries, reflects its exposure to reimbursement changes, relatively thin operating margins, exposure to increased bad debt, and aggressive financial risk profile. These concerns outweigh the benefits of the company's...
Companies mentioned in this report are: Emergency Medical Services Corp.
Action: Review
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Research Type: Full Analysis
Emergency Medical Services Corp.
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