Emergency Medical Services Corp. stock rose the most in five years in New York trading Tuesday after saying it was reviewing “strategic alternatives” to enhance shareholder value, raising the possibility of a sale.
EMS, the largest U.S. operator of ambulance services and provider of outsourced emergency- room doctors, rose $9.14, or 17 percent, to $63 on the New York Stock Exchange. It was the biggest increase since December 2005.
EMS, based in Greenwood Village, said in a statement that it hasn’t set a timetable for finishing the review and won’t provide additional information until its board “approves a specific transaction or otherwise concludes its review of strategic alternatives.”
The company hired Goldman Sachs Group Inc. for a sales process, according to a DealReporter report Tuesday that cited four unidentified people.
EMS employs 250 people at its headquarters and 150 in the Denver operations center of ambulance unit AMR. The company also operates Air Ambulance Specialists Inc. from Centennial Airport.
Denver Post staff writer Steve Raabe contributed to this report.
