American Medical Response parent declares bankruptcy
Atlanta Business Chronicle
The parent company of American Medical Response Inc., the country's largest ambulance service provider, has filed for Chapter 11 bankruptcy.
Ontario-based Laidlaw Inc. and five of its subsidiary holding companies - Laidlaw Investments Ltd., Laidlaw International Finance Corp., Laidlaw One Inc., Laidlaw Transportation Inc. and Laidlaw USA Inc. - filed voluntary petitions for reorganization in a Canadian court today.
The bankruptcy proceedings are not expected to effect AMR, which was not included in the filings. AMR operates about 54 ambulances in the metro Atlanta area and another eight-member fleet in LaGrange, Ga.
An AMR spokesperson said the ambulance company is insulated from the filings and business will continue as usual. In a formal statement AMR said vendor relationships would not be interrupted and that employees would continue to receive the same payments and benefits.
Laidlaw has struggled with the deteriorating values of some of its subsidiaries.
Laidlaw Education Services provides school bus services in the U.S. and Canada; Greyhound Lines Inc. provides intercity bus transportation in Canada, the U.S. and Mexico; Laidlaw Transit Services operates bus systems for public transit authorities in the U.S. and Canada; American Medical Response Inc. (AMR) is the largest provider of ambulance services in the United States serving more than 4 million patients per year in 35 states ; and EmCare Holdings Inc. and its operating units comprise the leading U.S. emergency department management business.
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