Emergency Medical Services, a Colorado-based ambulance operator and physician services company, has completed its merger with private equity firm Clayton, Dubilier & Rice. The $3.2 billion sale, announced in February, is expected to close on May 25.
An affirmative vote of a majority of shareholders was required for the transaction to go through. Approximately 93 percent of voting shareholders were in favor of the merger.
The transaction comprises an equity purchase price of $64 per share with approximately $45.5 million net diluted shares and LP Exchangeable Units outstanding. The transaction value also includes net debt and estimated transaction costs of approximately $300 million.
[See also: Private equity firm buys Emergency Medical Services for $3.2 billion.]
EMSC operates American Medical Response, providing ambulance services across the country, and EmCare Holdings, providing outsourced physician services to healthcare facilities.
EMSC will become a privately held company and its common stock will no longer be traded on the NYSE.