Blade Air Mobility Inc (BLDE)

[TruckingAngler]

BLDE to Buy Organ-Transportation-Company Trinity Air Medical 9/09/2021.
**This is HUGE- BLDE could then provide immediate transport of organs by AIR!**

Blade Air Mobility Inc. said it would buy Trinity Air Medical Inc., a multi-modal organ-logistics and -transportation company, for an upfront purchase price of about $23 million.

The deal, expected to close next week, includes potential additional contingent consideration based on Trinity achieving Ebitda growth targets over a three-year period.

Blade said it expects the acquisition to accelerate revenue growth in Blade's MediMobility business.

"We expect the combination of Trinity's substantial flight volume with Blade's fast-growing MediMobility business to create the largest dedicated organ air transport company in the United States and enable us to secure more dedicated aircraft, resulting in better availability and pricing for the hospitals we collectively serve," said Blade Chief Financial Officer Will Heyburn.

Trinity is profitable and generated revenues of about $16 million in calendar year 2020, working with transplant centers and organ-procurement organizations in 16 states, Blade said.

"Trinity's end-to-end services integrate air missions with ground transport. Given the existence of landing pads at most hospitals today, we have the ability to immediately replace Trinity's ambulances with helicopters on certain hospital-to-hospital missions, while preparing for a transition to both existing 'last-mile' cargo drones as well as Electric Vertical Aircraft, as soon as they become available," said Blade Chief Executive Rob Wiesenthal."

GLTA
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