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State Health Director Requests Financial Statements From Bankrupt Rural/Metro
State Health Director Will Humble wants Rural/Metro to send him financial statements while it seeks bankruptcy protection. He is worried the ambulance and firefighting company might cut expenses that could lead to longer emergency response times. Humble said he has sent a letter to Rural/Metro requesting monthly detailed financial reports and he wants a response by the end of the month.
Rural/Metro does business in more than 20 states, and Humble said he wants the company to know that if it cuts corners in Arizona he is prepared to find a replacement.
“There are no shortage of folks who are waiting to see what happens with Rural/Metro because ambulance service can be a pretty lucrative business and there are national ambulance companies figuring out strategically where they might be able to fit into the Arizona market,” Humble said.
Scottsdale-based Rural/Metro is the largest private ambulance company in the country. The bankruptcy petition it filed in a Delaware court this week said it is more than $500 million in debt. Last month, Rural/Metro missed a $15 million interest payment on a major bond.