This has been brewing for a month or two now.
It appears that a certain helicopter company noted that they have a 'spare' A109E and that there is no EMS service in Northamptonshire.
They managed to convince Warwickshire [who also view themselves as being in a backwater as far as air ambulances goes] that placing a new HEMS service [ie an upgrade on the County service in that a doctor would be carried] at Coventry Airport was affordable and sensible.
The dangers - if any - are that the aircraft TVAC has a prior record of breaking the back of its former operators. They went bust once and eventually staved off twice by moving downmarket to a BO105.
Warwickshire of course will have the use of hindsight and a slightly more advanced service into a new area.
So all may be well.
Or not.