Transactions & Cases Detail
Ornge purchases aviation assets from Canadian Helicopters and signs three-year operational agreement
March 31, 2009
30 Million CAD
On March 31, 2009, Ornge purchased the current fleet of 11 medically equipped Sikorsky S-76 helicopters and other aviation assets used in the provision of emergency medical transportation services from Canadian Helicopters Income Fund for an aggregate purchase price of C$30 million.
Concurrently, Ornge and Canadian Helicopters entered into a new operational agreement pursuant to which Canadian Helicopters will continue to perform transportation services to Ornge.
Ornge, headquartered in Mississauga, Ontario, provides medical transport for ill and critically injured patients, in the air and on the ground.
Canadian Helicopters, headquartered in Québec, operates 132 aircraft from 43 bases across Canada which provides a broad range of helicopter services to include: emergency medical services, infrastructure maintenance, utilities, oil and gas, forestry, mining and construction, and helicopter transportation services.
McCarthy Tétrault LLP represented Canadian Helicopters, as target, with a team that was led by Frederic Cotnoir.