14-Sep-2021 Source: Blade Air Mobility
Blade Air Mobility, Inc. (Nasdaq:BLDE, “Blade” or the “Company”), a technology-powered global air mobility platform announced that it has entered into a definitive agreement to acquire Trinity Air Medical, Inc. (“Trinity”), a nationwide, multi-modal organ logistics and transportation company. The transaction is expected to close during the week of September 13, 2021, subject to customary closing conditions.
“Trinity’s long-term relationships with organ procurement organizations and transplant centers are a testament to their high-touchpoint approach to organ air transportation, providing seamless solutions for their clients, a perfect fit with Blade’s culture of 24/7 availability and mission redundancy,” said Rob Wiesenthal, Blade’s Chief Executive Officer. “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.”
“Recent advances in organ preservation technology have resulted in consistently increasing demand for point-to-point organ air transport over longer distances,” said Seth Bacon, CEO of Trinity. “Blade’s scale in air transport missions coupled with their aerospace manufacturer relationships position us to continue expanding share in today’s growing market, while laying the groundwork to deploy forthcoming drone and Electric Vertical Aircraft technology, which will reduce transit times and improve patient outcomes.”
“Like Blade, Trinity is asset-light and neither owns nor operates aircraft, thus rapid expansion is not capital intensive. 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 Will Heyburn, Blade’s Chief Financial Officer. “Trinity’s consistent growth and positive EBITDA contribution will fortify Blade’s financial position while providing additional operating leverage for the broader Blade platform.”
“We are already working hand-in-hand with Blade’s MediMobility team on organ air transport missions,” said Scott Wunsch, COO of Trinity. “We look forward to implementing best practices from both organizations, which I am confident will result in faster, more efficient and more cost-effective service for our collective client base.”