[QUOTE=SASless;11524936]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.
I was a personal member of ASHBEAMS (American Society of Hospital Based Emergency Air Medical Services). Things have certainly changed since then...