REACH air ambulance buys Sacramento-area competitor CALSTAR

From the Press Democrat:

REACH Air Medical Services has acquired a nonprofit air ambulance service based out of the Sacramento area.

REACH Medical Holdings, the holding company for the emergency air transport service, has bought California Shock Trauma Air Rescue, more commonly known as CALSTAR, the companies announced on Thursday. Financial terms were not disclosed.

CALSTAR, located in McClellan in Sacramento County, will be turned into a limited liability company and will operate as CALSTAR Air Medical Services. REACH said the purchase price for acquiring CALSTAR will go to fund a new nonprofit foundation “to benefit the public,” given that there were no owners to cash out on the deal. Details about the foundation will be released at a later time.

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