Memory serves me that PHI Aero Med (or whatever name PHI used) filed for bankruptcy for its Texas operations not so long ago.
The EMS business has changed business models over time having started out for the main part as Hospital based flight operations which if a stand alone flight operation would not have been profitable but the kinds of very serious cases the helicopter brought to the medical center and the profits from that level of care made up the difference.
Then as the Operators branched out and the model shifted to Community Based Operations that revenue stream that existed under the old hospital based method fell off and thus the flight operations then had to become more self supporting.
Competition in that style of business model became quite vigorous and profit margins shrank.
Add in the other factors mentioned in other posts and you can begin to draw your own conclusions.
Air Methods in kind words was pretty much a victim of its own success.
Some things they did really well but they got into some parts of the EMS business they might have stayed away from and done much better in the end.
I am sure there will be others with a fresher and better knowledge of how this all came about as mine is not very recent or very involved.
One thing for sure is one should not believer one's own propaganda and that goes for commercial ventures as well as military or political organizations.
As to the final outcome....no about there shall be a loss of contracts, jobs, and reduction in the size of the fleet of aircraft and perhaps core units such as manufacturing of interiors.
All of the EMS Operators are confronting many of the same problems re revenue and are subject to the same market forces as is Air Methods.
Exposure to debt obligations might vary and those that are way over extended due to prior expansion and growth that came as a cost of that exposure will not fare well.
There is a market out there...and some one has to fill that need....who it is remains to be seen.