global vectra helicorp limited ( gvhl ) is india ’s largest private helicopter company , with a fleet of 29 aircraft ranging from small light helicopters to medium-sized twin engined helicopters seating 4 to 15 passengers .

company was promoted by non-resident indian businessman ravi rishi .

the company is headquartered in mumbai at the juhu aerodrome where its offshore wing services the oil and gas industry with forward bases at visakhapatnam and rajahmundry .

the onshore operation , covering the entire indian subcontinent , is based in new delhi and bangalore.gvhl is listed on the national stock exchange and the bombay stock exchange having iso 9001-2008 , 14001-2004 , and ohsas 18001-2007 certifications covering flight operations , engineering , safety , quality control , and commercial systems .

global vectra helicorp

the company history page lists out the major events in chronological order for global vectra helicorp ltd .
global vectra helicorp disclosure under regulation 32 ( 1 ) of the sebi ( listing obligations and disclosure requirements ) regulations , 2015 .
global vectra helicorp quartely statement on investor complaints / grievances redressal mechanism for the quarter ended 31st march , 2017 under r . . .
global vectra helicorp compliance certificate under regulation 40 ( 9 ) of the sebi ( listing obligations and disclosure requirements ) regulations . . .
global vectra helicorp and era sign a memorandum of understanding for helicopter emergency medical services in india : : era group inc . ( era )
in august 2004 , vipl acquired majority stake in global helicorp and the vectra group thereby acquired control of the company . in september 20 , 2004 , the name of the company was changed to global vectra helicorp pvt ltd . in october 2004 , vectra ltd acquired the remaining 50 % stake in aaa , whereby 100 % of the shareholding was held by the vectra group .
global vectra helicorp notice of board meeting to consider unaudited financial results for the quarter ended 30th september , 2017 to be held on . . .
global vectra helicorp compliance certificate - regulation 7 ( 3 ) of sebi ( listing obligations and disclosure requirements ) regulation for the p . . .
global vectra helicorp is india’s largest private helicopter company , with a fleet of 25 aircraft . global vectra helicorp offers offshore transportation services to the oil and gas sector and through birdie , its onshore division , charter and airport shuttle services throughout the country . global vectra helicorp is a part of the vectra group of companies , which is engaged in aviation , heavy engineering , real estate , information and technology and security systems . more information is available at www . globalhelicorp . com .
global vectra helicorp audited financial results for the quarter and year ended 31st march , 2017 approved by the board of directors on 24th may . . .
global vectra helicorp statement of investor complaint under reg . 13 ( 3 ) of sebi ( lodr ) regulations , 2015 for quarter ended september 30 , 2016
global vectra has a state of the art maintenance facility at its juhu base which is approved by dgca .
global vectra helicorp ltd . , incorporated in the year 1998 , is a small cap company ( having a market cap of rs 115 . 01 crore ) operating in transport sector .
global vectra helicorp limited is the largest dedicated offshore transportation services company servicing the oil & gas exploration and production sector in india . global vectra has operations in both east & west coasts serving blue chip companies such as reliance , british gas , gujarat state petroleum corporation and ongc , largest oil & gas company in the country .
fake agent alert - all are requested to be aware of fake agents masquerading as global vectra helicorp limited ( gvhl ) employees and selling tickets on behalf of gvhl . a detailed notice has been uploaded in the news section .
contact address : registered office : global vectra helicorp ltd . a - 54 , kailash colony , new delhi - 110048 ph : + 91 - 11 - 43171111 fax : + 91 - 11 - 29235033 global vectra helicorp ltd . hanger no . - c - he / hf , airports authority of india , civil aerodrome , juhu , mumbai - 400054 ph : + 91 22 61409200 fax : + 91 22 61409300 e - mail : globalhelicorp @ urltoken
global vectra helicorp ltd was incorporated on april 13 , 1998 as a private limited company with the name azal india pvt ltd . in march 2003 , the company became the iso 9001 - 2000 certified company through dnv . in july 22 , 2003 , the name of the company was changed to global helicorp pvt ltd . in january 24 , 2004 vectra ltd acquired 50 % stake in azal azerbaijan aviation ltd , an aircraft leasing company incorporated in ireland and which held 40 % equity in the company
era is excited to expand its long - standing relationship with global vectra ,
said paul white , senior vice president , commercial of era group .
we believe that the recent regulatory initiatives will facilitate the development of the emerging helicopter emergency medical services market in india by experienced operators like era and global vectra .
global vectra is a leading charter service provider for pilgrimages centres in india . it has helicopter shuttle services to chardham , amarnath , vaishno devi , hemkund sahib and kedarnath .
global vectra helicorp ( gvhl ) a vectra group company , is india ? óôé¼ôäós largest private helicopter company , with a fleet of 29 aircraft , including bell helicopters ( bell 412 ) and eurocopters ( ec 155 , b1 , ec 135 p2 , and as 350 b3 ) . the fleet of helicopters , which range from small light helicopters to medium sized twin helicopters , offer seating capacity of 4–12 passengers .
private charter jet operator bjets has tied up with the helicopter charter company global vectra helicorp ( gvhl ) in may 2009 to offer end–to end private travel solutions to customers . under the long–term memorandum of understanding ( mou ) , the companies would offer pre–paid hour cards which can used seamlessly across the bjets and gvhl ? óôé¼ôäós fleet .
global vectra helicorp ltd . key products / revenue segments include service income which contributed rs 371 . 99 crore to sales value ( 99 . 74 % of total sales ) and other operating revenue which contributed rs . 97 crore to sales value ( 0 . 25 % of total sales ) for the year ending 31 - mar - 2017 .
the vectra group on friday operates eight manufacturing facilities in india , the czech republic , slovakia and britain . an electrical engineer by qualification , rishi believes in investing in business ventures which require specialised knowledge and technological expertise . in 2004 , the vectra group acquired a helicopter operating firm in india , to provide offshore transportation services to oil and gas companies . global vectra helicorp ltd , with a fleet of 23 copters , has on its clientele reliance industries , british gas and gujarat state petroleum corporation . the copters are manned by pilots recruited mostly from the defence services .
india’s largest private helicopter company , global vectra helicorp ltd . with a fleet of 29 aircraft ranging from small , light to medium - sized twin - engine helicopter with a seating capacity of 4 to 15 passengers offers religious tourism in uttarakhand . the company is known to offer heli services to pilgrim sites namely amarnath , vaishno devi , kedarnath and hemkund sahib .
global vectra helicorp limited is the largest private helicopter company in india , providing seamless , safe and accident free helicopter services for almost two decades . the spectrum of operations of the company encompasses support to india’s offshore oil & gas industry , onshore operations for state governments ( vvip flying ) , election flying , heli pilgrimage and much more . the company is listed both on the . . .
global vectra helicorp ltd is indias largest private offshore and onshore air - logistics helicopter company serving . the company is engaged in helicopter charter services for offshore transportation servicing the oil and gas exploration and production sector in india . they operate their onshore activities under the name of birdie and they supply helicopter services to other sectors than oil and gas , such as geotechnical surveys , tourism and corporate charters and underslung operations .
global vectra helicorp limited ( gvhl ) is india’s largest private helicopter company , with a fleet of 23 aircrafts , including bell helicopters ( bell 412 ) , eurocopters ( ec 155 , b1 , ec 135 p2 , and as 350 b3 ) and agustawestland helicopters ( aw 139 ) the fleet of helicopters , which range from small light helicopters to medium sized twin helicopters , offer seating capacity of 4 - 12 passengers .
global vectra helicorp limited is the largest private helicopter company in india , providing seamless , safe and accident free helicopter services for almost two decades . the spectrum of operations of the company encompasses support to india’s offshore oil & gas industry , onshore operations for state governments ( vvip flying ) , election flying , heli pilgrimage and much more . the company is listed both on the national stock exchange and the bombay stock exchange .
mumbai , india and houston , tx - - ( marketwired - mar 14 , 2016 ) - global vectra helicorp ltd . ( bse code 532773 ; nse code globalvect ) (
gvhl
) and era group inc . ( nyse : era ) (
era
) announced today the signing of a memorandum of understanding ( mou ) to jointly develop helicopter emergency medical services ( hems ) for the indian market .
in october 10 , 2005 , the company was converted into public limited company and the name was changed to global vectra helicorp ltd . during the year 2006 - 07 , the company came with the public issue and the shares were listed on the bombay stock exchange ltd and the national stock exchange ltd with effect from october 27 , 2006 . also , the company increased the total fleet size to eighteen helicopters during the year .
mumbai , india and houston , tx - - ( marketwired ) - - 03 / 14 / 16 - - global vectra helicorp ltd . ( bse code 532773 ; nse code globalvect ) (
gvhl
) and era group inc . ( nyse : era ) (
era
) announced today the signing of a memorandum of understanding ( mou ) to jointly develop helicopter emergency medical services ( hems ) for the indian market .
global vectra helicorp limited is the largest private helicopter company in india , providing seamless , safe and accident free helicopter services for almost two decades . the spectrum of operations of the company encompasses support to india’s offshore oil & gas industry , onshore operations for state governments ( vvip flying ) , election flying , heli pilgrimage and much more . we are also pioneers for helicopter operations in the conduct of specialized aerial geophysical survey and most recently , for providing power industry support services .
milestone aviation group is the first global aircraft leasing company exclusively focused on helicopters and private jets . headquartered in dublin , ireland , and with operations in colts neck , new jersey and columbus , ohio , milestone’s global aircraft leasing platform addresses the needs of a transforming marketplace . further information is available at urltoken .
rishi has also evinced keen interest in oil exploration . the vectra group is said to have bagged a licence under new exploration licensing policy - vii in the gulf of cambay , gujarat .
ravi rishi’s vectra group is the largest shareholder in tatra holdings , which owns czech truck manufacturer tatra , accused of supplying trucks at exorbitant prices to the indian army . the vectra group did not respond to an emailed questionnaire sent by business standard , though it has stated elsewhere about being “deeply concerned and anguished by the false and unfounded allegations of attempted offers to bribe , levied by gen v k singh” .
bangalore vectra house , 5th floor , no 15 , 1st main . 6th cross , gandhinagar , bangalore - 560 009 , karnataka , india tel : + 91 80 41290011 fax : + 91 80 41516422
global vectra helicorp is india’s largest private helicopter company with a fleet of 29 aircrafts ranging from small light helicopters to medium sized twin engined helicopters seating 4 to 15 passengers . of the aircrafts 7 are owned and rest are leased . biggest customer is ongc which is also a risk in terms of customer concentration . however , the trigger going forward is that the company has bagged a inr 550 cr 3 year contract from ongc ( urltoken ) , which is expected to start kicking in from q1fy18 . sound management with solid corporate governance ( kpmg is the auditor which is rare for a small cap ) . results for q4fy17 were also good ( urltoken )
through indocopters pvt ltd , the vectra group sells and supports the advanced range of eurocopter helicopters in india . the company has mro ( maintenance , repair , overhaul ) facilities in greater noida ( uttar pradesh ) , bhubaneswar ( odisha ) , mumbai and bangalore .
“our announcement today demonstrates the breadth and global nature of the milestone business , ” said milestone ceo william kelly . “our partnership with first - class companies both large and small provides proof of the value of our product offering and our place in the industry . ”
ravi rishi , chairman of the vectra group , runs 18 companies , mostly in india and eastern europe . these have interests in aviation , heavy engineering , real estate , security systems , exploration and production of oil , automotive and information technology , and services industries .
global vectra helicorp limited is engaged in offering helicopter charter services for offshore transportation , servicing the oil and gas exploration and production sector . the company is also engaged in helicopter charter services for onshore transportation . it delivers a range of onshore and offshore services to various sectors , including oil and gas , religious tourism , geophysical survey , emergency services , underslung and general utility operations , and power grid maintenance . it has a fleet of over 20 aircraft , including bell helicopters ( bell 412 ) , airbus helicopters ( h155b1 , h135p2 , h130t2 and as350b3 ) , and agustawestland helicopters ( aw 139 ) . its fleet of helicopters range from small light helicopters to medium - sized twin helicopters , offering seating capacity of 5 to 15 passengers . the company also provides seismic survey , powerline inspection and maintenance , and a range of other services to a range of clientele .
rishi , who maintains that the vectra group is always in an acquisition mode , is on the look - out for companies in the machining industry . the group wants to acquire companies which can manufacture high - end components for the aviation industry . it is also the largest shareholder in india exposition mart ltd , which aims to be a one - stop shop for cottage industry products .
“we believe a blend of asset ownership and leasing is essential to manage our financial risk , achieve our growth targets and , most importantly , meet the needs of our customers , ” said jorge diaz - crespo cardona , ceo of inaer , the leading global provider of mission - critical helicopter services . “milestone offers a customised solution in the marketplace and we are proud to be amongst their first customers . ”
orlando , usa , march 6 , 2011 – milestone aviation group , the first global specialty finance company focused exclusively on the helicopter and private jet markets , announced today $ 205 million in transactions . with this announcement , which was made at the helicopter association international heli - expo , milestone has closed on 20 new and pre - owned helicopters totalling $ 141 million as well as signed letters of intent for an additional $ 64 million in equipment .
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inaer is a global leading provider of helicopter emergency services for mission critical operations such as medical emergency services , civil protection , sea and mountain search & rescue , coast and fishing surveillance , fire fighting , training and maintenance . these services are provided for national , regional and local governments . inaer operates in spain , italy , france , united kingdom , portugal , north africa , chile and australia , and has a fleet of 298 aircraft and more than 1 , 800 employees . inaer’s customers profile and concession based contract give the company a high degree of income visibility over the medium to long term period . more information is available at www . inaer . com .
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the group stated it does not require a selling agent or agency or any person for canvassing and that it has received no formal complaint regarding the quality or performance of the tatra truck in the past 26 years , either in india or elsewhere . denying that tatra trucks were priced exorbitantly , chief executive officer ronald adams said , “tatra is a vehicle specially designed for severe army use . it is unique in its construction and not a vehicle simply converted from civilian use to military use . we remain competitive globally .
a graduate from the indian institute of technology ( iit ) , rishi moved to singapore in the late 1970s . he settled in london in 1985 and soon after , decided to look east and started investing heavily in eastern european companies .
the group has three joint venture agreements globally - with kamaz of russia for manufacturing trucks in india , with orad of israel in the field of security and with eurocopter of france for distributing and maintaining helicopters .
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for the quarter ended 31 - 03 - 2018 , the company has reported a standalone sales of rs 104 . 85 crore , up 4 . 36 % from last quarter sales of rs 100 . 46 crore and up 7 . 78 % from last year same quarter sales of rs 97 . 28 crore company has reported net profit after tax of rs - 5 . 54 crore in latest quarter .
the company’s top management includes dr . chandrathil gouri krishnadas nair , dr . gautam sen , lt . gen . ( retd . ) s j s saighal , major gen . gurdial singh hundal . company has bsr & co . llp as its auditors as on 31 - 03 - 2018 , the company has a total of 14 , 000 , 000 shares outstanding .
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gvhl offers offshore transportation services to the oil and gas sector . the company has operations in both east & west coasts serving blue chip companies such as reliance , british gas , gujarat state petroleum corporation , the largest oil & gas company in india . ”
through its onshore “birdie” division , gvhl offers charter and airport shuttle services throughout the country .
gvhl is listed on the national stock exchange and the mumbai stock exhange . it is an iso 9001 - 2000 , 14001 - 2004 , and ohsas 18001 - 1999 certified company . these certifications cover all gvhl activities , including flight operations , engineering , safety , quality control , and commercial systems . gvhl’s maintenance facility at the juhu air base in mumbai meets international quality standards and has received certification from the dgca ( director general of civil aviation ) .
gvhl has a team of highly experienced pilots , all of whom are rated on the bell 412 helicopter and eurocopter . these pilots are predominantly from the defence services and possess extensive flying experience in all kinds of difficult environments . their average flying experience is 7 , 500 flight hours .
key competitive strengths are : 1 . long - term operations and strong relationships 2 . a large and modern fleet of helicopters 3 . state - of - the - art maintenance facilities in our own hanger 4 . in - house maintenance , repair and overhaul ( mro ) support capabilities 5 . experienced and professional management 6 . focus on safety
qualified and experienced pool of pilots . machine to pilot ratio of 1 : 3 . 5
we are also the first to introduce ec 155b1 helicopter for deep water operations .
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gvhl is looking for a flight operations coordinator – training , who can assist the flight operations department in managing a range of pilot training related activities and the large volume of data associated with this process . the candidate needs to be a good administrator with excellent written and verbal communication skills ( english language ) and sound computer usage skills ( ms word and ms excel . . .
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gvhl is the one of the largest dedicated offshore transportation services companies in the country . the company has operations in both east & west coasts serving blue chip companies such as reliance , british gas , gujarat state petroleum corporation , the largest oil & gas corporation in india .
through its onshore ? óôé¼ ? £birdie ? óôé¼ôäó division , gvhl offers charter and airport shuttle services throughout the country .
gvhl is listed on the national stock exchange and the bombay stock exhange . it is an iso 9001–2000 , 14001–2004 , and ohsas 18001–1999 certified company . these certifications cover all gvhl activities , including flight operations , engineering , safety , quality control , and commercial systems . gvhl ? óôé¼ôäós maintenance facility at the juhu air base in mumbai meets international quality standards and has received certification from the dgca ( director general of civil aviation ) .
the company is an iso 9001–2000 , 14001–2004 , and ohsas 18001–1999 certified company .
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in jayalalithaa ' s rk nagar , results tomorrow . but everyone knows who won
funds transfer via imps crosses rs 3 . 23 lakh cr in april - june quarter
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company ' s return has been calculated on basis of bse ' s price . as on jul 09 , 2018
audited financial results for the quarter and year ended 31st march , 2018 approved by the board of directors on 29th may , 2018 .
compliance certificate - regulation 7 ( 3 ) of sebi ( listing obligations and disclosure requirements ) regulations , 2015 for he period october 1 , 2017 to march 31 , 2018 .
disclosure under regulation 30 ( 2 ) of sebi ( sast ) regulations 2011 for the year ended march 31 , 2018 .
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the company is listed both on the national stock exchange and the bombay stock exchange .
gvhl is an iso 9001 : 2015 , 14001 : 2015 and ohsas 18001 : 2007 certified company and these certifications overarch all activities of the company including flight operations , engineering , maintenance , safety , quality control and commercial practices .
gvhl maintains a fully compliant dgca and icao standard safety management system and the company ensures the highest level of safety standards , including having over 20 iata certified aviation auditors on staff to underpin our safety and compliance programs .
gvhl has a large and relatively young fleet of over 25 helicopters ( average age under 10 years ) , operated by highly experienced and well trained crews and maintained by a large team of professional engineers , technicians and support staff .
the company has an unmatched safety record with over 220 , 000 hours of accident free flying and safe carriage of over 3 , 250 , 000 passengers ( low numbers by commercial passenger jet standards , but exceptional numbers for a helicopter operation ) .
gvhl are a quiet achiever , consistently producing proven results and delivering safe and reliable operations in support of indian industry and the broader community .
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company : morningstar india private limited ; regd . office : 9th floor , platinum technopark , plot no . 17 / 18 , sector 30a , vashi , navi mumbai – 400705 , maharashtra , india ; cin : u72300mh2004ptc245103 ; telephone no . : + 91 - 22 - 61217100 ; fax no . : + 91 - 22 - 61217200 ; contact : morningstar india help desk ( e - mail : helpdesk . in @ urltoken ) in case of queries or grievances .
leading service provider of birdie airport shuttle service and oil industry helicopter services from mumbai .
you no longer have to suffer stressful traffic jams lasting two or three hours getting to and from bangalore international airport limited ( bial ) , which is 40 km from the city centre . just hop on birdie at the hal airport and hop off at bial . you can take birdie from bial to four main locations : hal airport , whitefield , electronic city , and mysore .
birdie operates twin - engine helicopters with modified seating of 9 pax . it offers a vip seating configuration that is spacious and extremely comfortable . birdie will soon extend its shuttle services to cities across india . we at birdie believe that our success is built on the highest standards of safety , quality , and integrity .
political rallies : birdie offers more bases in india than any other helicopter service . birdie is the fastest way to reach a city destination during a rally .
tourism : don ' t let flight delays ruin your holiday . birdie has tied up with tourism boards and hospitality companies that offer excellent holiday packages to select destinations across india . this means that you can reach your destination directly from your city so that you spend the least amount of time travelling and the maximum time holidaying . if you want to do heli - skiing , you will be happy to know that the eurocopter helicopter is capable of landing on mount everest .
geophysical survey : birdie ' s specialized service is helmed by a panel of highly skilled and experienced pilots . special helicopters equipped with the latest electromagnetic sensors carry out these highly specialized tasks with precision and accuracy for clients such as multinational mining companies and government organizations .
power - line cleaning : birdie ' s experienced pilots perform this highly specialized task , requiring great precision and accuracy , for government organizations .
emergency services : specially equipped helicopters offer emergency rescue and evacuation services that are indispensable for disaster management in the event of a calamity . birdie has customized helicopters that can handle any emergency situation .
aerial photography : birdie caters to all filming and photography requirements . we can provide helicopters with or without doors or windows . we can install an ultra media 2 or similar camera on the exterior of the aircraft .
the only helicopter company in india certified to undertake the 3000 hours / 5 years check on the bell 412 helicopter fitted with pratt & whitney pt6t - 3 series engines .
aeroservicios especializados , s . a . de c . v . ( asesa ) of mexico ;
these operators use the helicopters in a range of industries , such as oil and gas , emergency medical services ( ems ) and government contract transport .
the cumulative total also includes a significant new milestone helicopter order that will be announced later today at heli - expo . milestone is exhibiting at heli - expo booth 4042 at the orange county convention center in orlando , florida , through march 8 .
“in just six months since we launched milestone , we have already reached $ 205 million worth of transactions to provide lease financing to high - quality helicopter and private jet operators , ” said richard santulli , chairman of milestone . “we are delighted to have acquired in such a short time $ 141 million in equipment , with another $ 64 million committed , to support our partners . ”
milestone aviation group provides short or long - term leases of any amount for new purchases , pre - owned equipment or the sale - leaseback of existing assets , all with 100 % financing . milestone , which secured $ 500 million of equity last august to provide lease financing to the helicopter and private jet markets , is currently in various stages of discussions with helicopter operators and private jet owners on six continents .
asesa , a leader in the aeronautics industry since 1977 , is a mexican company specialized in helicopter air services . asesa offers cargo and passenger transportation service , maintenance , operation , management , safekeeping and guarding , consultancy service and a fbo . as one of the leading air service providers in mexico , asesa has logged over 460 , 000 flight hours and was awarded the operator safety award by helicopter association international from 2006 – 2009 . more information is available at urltoken .
careflite , a 501 ( c ) 3 not - for - profit texas company , is sponsored by the leading not for profit and public hospitals in north texas : baylor healthcare , jps health network , methodist health system , parkland health and hospital and texas health resources . more information is available at www . careflite . org .
helijet is based in vancouver , canada . for 25 years , helijet has offered commuter service between downtown vancouver and downtown victoria , the capital of british columbia . this was the first scheduled helicopter service in canada and continues today using sikorsky s - 76a equipment . from that first helicopter and first route , helijet has grown into a publicly traded company offering a wide range of scheduled and charter services with a fleet of 13 helicopters and airplanes and over 100 employees . helijet also provides air ambulance service for the british columbia ambulance service and , in late 2010 , won the rights to continue that service with three sikorsky s - 76c + machines for the next eight years . further information is available at www . helijet . com .
omni taxi aéreo is part of the portuguese omni aviation group . the brazilian company was founded in 2000 and started operations one year later with a bell 212 helicopter . over the past 10 years the company has grown rapidly and diversified its fleet with several different helicopter models dedicated to the oil & gas industry . omni is fully certified in quality , health , environment and social responsibility to international norms and has maintained a perfect safety record since incorporation . further information is available at www . omnibrasil . com . br .
press release – “milestone aviation group to acquire five sikorsky s - 76® . . .
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by orders of the shrine board , children below 13 years of age and senior citizens above 75 years are not permitted to undertake the yatra .
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guangzhou police and airbus helicopters signed an agreement today for an order of one h145 light helicopter for law enforcement duties , to be delivered at the end of 2016 .
the airbus helicopters foundation has provided support to ongoing humanitarian relief operations in the small island nation of dominica , in the caribbean , which was recently hit with heavy rainfall and mudslides in the wake of tropical storm erika .
monacair signed today an order for six h130s to set up an improved service of regular scheduled flights linking monaco heliport to nice international airport . the first commercial flight is planned for january 2016 with a flight every 15 minutes .
at a ceremony presided by the prefecto nacional naval luis alberto heiler , airbus helicopters officially handed over an h225 helicopter to the argentine coast guard .
beijing capital helicopter ( bch ) , a subsidiary of hainan airlines group , has been appointed as airbus helicopters’ service center in china .
hems999 , an air ambulance operator under the mit group , signed an agreement with airbus helicopters today , for an order of seven h130 light helicopters .
cm international financial leasing corp . , ltd . ( cmifl ) is to acquire 100 airbus helicopters ecureuil - series rotorcraft over five years , with the initial order of 10 units to be delivered in 2016 .
hong kong - based government flying services ( gfs ) has ordered seven airbus helicopters h175s , becoming the world’s launching customer for this new - generation super - medium - sized rotorcraft in the public services configuration .
tianjin , china , airbus helicopters has confirmed its line - up of four rotorcraft to be showcased at the china helicopter exposition 2015 – one light single - engine h130 ecureuil , two light twin - engine h135s and one medium - sized h155 from the dolphin family .
marignane , as of today , guillaume steuer is reporting to vice president of corporate communications yves barillé and is managing all external communications activities for airbus helicopters .
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the presentations , reports , filings and other information regarding era group inc . available on this website contain time - sensitive information . era group inc . will not be reviewing or updating the information contained therein after the date thereof . the information contained therein may be updated , amended , supplemented or otherwise altered by subsequent presentations , reports or filings by era group inc .
all statements included or incorporated by reference in these presentations , reports and / or filings , other than statements or characterizations of historical fact , contain
forward - looking statements
. there can be no assurance that any forward - looking statements will be achieved , and actual results could differ materially from forecasts and estimates . important factors that could affect the company include the risks described in the sections entitled
forward - looking statements
, item 1a ,
risk factors
and elsewhere in the company ' s annual report on form 10 - k for the fiscal year ended december 31 , 2017 filed with the sec , or in subsequently filed periodic , current or other reports . era group inc . undertakes no commitment to update or revise forward - looking statements except as required by law .
hems represents a modern trauma care delivery system designed to facilitate rapid delivery of medical attention to patients with time sensitive medical conditions and to provide transport to patients who may be inaccessible by other means , along with attendant specialized medical expertise and equipment that may be required prior to or during transport .
under the mou , gvhl and era will collaborate on an exclusive basis to develop a marketing and operational plan to reach and provide medical assistance to casualties following accidents and disasters , evacuate critical care patients and engage in other lifesaving missions within india . by joining forces , gvhl , india ' s largest private air logistics helicopter company with extensive experience operating at several locations across india , and era , one of the largest helicopter operators in the world and the longest serving helicopter transport operator in the u . s . with specific experience in hems operations , will leverage their respective expertise and modern , diverse fleet of helicopters to introduce the offering in india .
with era ' s experience in establishing and running a hems service that meets or exceeds the highest international standards for safety and reliability , and gvhl ' s extensive knowledge of factors affecting helicopter operations in india , we are excited to conduct a detailed review of the best way to introduce and deliver a truly world class hems service into india ,
said aj baker , ceo at gvhl in mumbai .
about era group inc . era is one of the largest helicopter operators in the world and the longest serving helicopter transport operator in the u . s . in addition to servicing its u . s . customers , era also provides helicopters and related services to third - party helicopter operators and customers in other countries , including brazil , colombia , the dominican republic , india , norway , spain and the united kingdom . era ' s helicopters are primarily used to transport personnel to , from and between offshore oil and gas production platforms , drilling rigs and other installations . in addition , era provides air medical services , utility services , flightseeing tours and emergency response search and rescue .
for additional information concerning era , contact andrew puhala at ( 713 ) 369 - 4646 or visit era ' s website at urltoken .
airport authority ofindia civil aerodrone , juhu mumbai 400054 p : + 9122 . 61409200 f : + 9122 . 61409300
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below are the quarterly financials of the company . there has been a significant ebitda margin expansion in fy17 over fy16 . despite a low growth this year , most of the costs have been rationalized in fy17 vs fy16 . net debt levels are almost constant ( assuming maturity of lt borrowing same as last year ) with improving leverage ratios ( net debt / ebitda ) from 3 . 7x in fy16 to 2 . 5x in fy17 . pawan hans is the biggest competitor , however unlike pawan hans , the company has no precedence of air accidents . with the ongc order kicking in fy18 and with operating leverage , expect a re - rating of the stock in near term .
urltoken . shareholding pattern ( promoters hold 75 % with 27 % with azerbaijan aviation through aaa rotors ) . strong corporate governance controls for a small cap .
please do note that the pdf link does not mention a 500 cr deal .
the company is operating in greater noida , new delhi , mumbai , rajahmundry and bangalore . their onshore activities include corporate services , business promotion , political rallies , tourism , pilgrimage , geophysical survey , power - line cleaning and emergency services .
their major maintenance base for the offshore fleet is mumbai where all maintenance work is carried out including 3000 hours check on its bell 412 fleet of aircraft in a 6000 sq m state - of - the - art hangar .
during the year 2007 - 08 , the companys total fleet size increased to twenty - two helicopters . during the year 2008 - 09 , the companys total fleet size was 26 aircraft consisting of 22 bell 412 and 4 eurocopter aircraft .
the companys total fleet size , as on march 31 , 2010 stands at 27 helicopters consisting of 20 bell 412 , 01 ec 155 , 02 ec 135 , 03 as 350 b2 / b3 and 01 ab - 139 helicopter .
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no need to issue cheques by investors while subscribing to ipo . just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment . no worries for refund as the money remains in investor ' s account .
gvhl offers swift flights to kedarnath , one of the famous ‘jyotrilings’ in india . the helicopter takes off from the helipad located at sitapur , adjacent to sonprayag . the services of gvhl can be availed from akshay tritiya till bhai dooj , with no flights operating during monsoon season . for visiting hemkund sahib , the highest gurudwara of the sikh community located in chamoli district gvhl renders its services from govindghat to govind dham .
kedarnath is one of the most revered shrine in uttarakhand . over lakhs of pilgrims visit this holy shrine over a year . it is highest lord . . . more »
sacred yatra - char dham yatra 2018 : urltoken : : © all right reserved : contact us : advertise : sitemap : disclaimer : amarnath yatra 2018 : vaishno devi : chardham packages char dham india travel guide with latest char dham packages and char dham online hotel bookings . urltoken organizes budget and deluxe luxury tours to various hindu pilgrimage destinations in india . important note : registration is compulsory for chardham yatra 2018 . know more about char dham yatra registrations
markets : stocks fly , twitter sinks , tech in limbo . . . what trade war ?


allion healthcare ( nasdaq : alli ) is the parent company of momspharmacy based in melville , new york primarily known for providing mail order hiv medications to patients who are primarily on medicaid or the aids drug assistance program ( adap ) .

among the offerings is the momspak in which the drugs are packed together in dated individual packages to make the multi-drug regimen easier .

the company reported having 15,610 patients in 2007 .

the company has distribution centers in new york , california , florida , new jersey , and washington .

allion healthcare

future reductions or basic changes in the programs could threaten allion healthcare ' s long - term profitability .
investors interested in specialized health care may want to take a look at companies providing services to the elderly , including apria healthcare group , beverly enterprises , kindred healthcare , genesis healthcare and manor care .
allion healthcare gives a vital service to those infected with hiv / aids , but the company offers little to ipo investors .
allion healthcare , inc . agrees to be acquired by h . i . g . capital for $ 6 . 60 per share
allion healthcare ' s competitors include specialty pharmacies such as accredo health , bioscrip , curative health services and priority healthcare , and benefit management companies such as medco health solutions , expressscripts and caremark rx .
allion healthcare , inc . is a national provider of specialty pharmacy and disease management services focused on hiv / aids patients as well as specialized biopharmaceutical medications and services to chronically ill patients . allion healthcare sells hiv / aids medications , ancillary drugs and nutritional supplies under the trade name moms pharmacy . allion healthcare provides services for the intravenous immunoglobulin , blood clotting factor and other therapies through its biomed america division . allion healthcare works closely with physicians , nurses , clinics , aids service organizations , and with government and private payors to improve clinical outcomes and reduce treatment costs .
allion healthcare , inc . is a national provider of specialty pharmacy and disease management services focused on hiv / aids patients as well as specialized biopharmaceutical medications and services to chronically ill patients . allion healthcare sells hiv / aids medications , ancillary drugs and nutritional supplies under the trade name moms pharmacy . allion healthcare provides services for the intravenous immunoglobulin , blood clotting factor and other therapies through its biomed america division . allion healthcare works closely with physicians , nurses , clinics , aids service organizations , and with government and private payors to improve clinical outcomes and reduce treatment costs . for more information , please refer to the allion website at urltoken .
allion healthcare is rolling up competitors in a highly fragmented market , but remains a small operation in a narrow field . at best , look for a small opening and a quiet first day . better yet , skip allion healthcare ' s planned ipo and look elsewhere for stronger growth prospects .
allion healthcare , inc . agrees to be acquired by h . i . g . capital for $ 6 . 60 per share | business wire
( a ) allion healthcare , inc . ( the company or allion ) was originally incorporated in 1983 under the name the care group inc . in 1999 , the company changed its name to allion healthcare , inc . the company is a national provider of specialty pharmacy and disease management services focused on hiv / aids patients , as well as a national provider of specialty biopharmaceutical medications and services for chronically ill patients .
matter of allion healthcare inc . : : 2010 : : new york other courts decisions : : new york case law : : new york law : : us law : : justia
attorneys for defendants michael p . moran , flint d . besecker , kevin d . stepanuk , william r . miller and allion healthcare , inc . , 1000 west street , 17th floor
“we are excited to close and begin integrating the whittier goodrich pharmacy into the allion and moms pharmacy system , ” commented mike moran , allion’s president and chief executive officer in allion’s transaction announcement . “whittier has provided high quality services in the los angeles market for a long time and we look forward to the whittier team joining the allion and moms pharmacy team . ”
we believe that the combination of services we offer to patients , healthcare providers and payors makes us an attractive source of specialty pharmacy and disease management services , contributes to better clinical outcomes and reduces overall healthcare costs .
reimbursement experience that assists patients and healthcare providers with the complex reimbursement processes and that optimizes collection of payment .
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allion healthcare is growing by acquisition . in 2003 , it bought a california pharmacy , medicine made easy , and in 2005 it acquired two more california pharmacies , north american home health supply and specialty pharmacies .
moms , whose parent is listed as allion healthcare , a melville , l . i . - based company , billed new york state medicaid for at least $ 155 million for these unusable drugs , according to new york state attorney general eric schneiderman . the ag ' s office says allion cooperated in the investigation .
company contact : allion healthcare , inc . russ fichera , 631 - 547 - 6520 chief financial officer or investor contact : the cockrell group rich cockrell , 404 - 942 - 3369 rich . cockrell @ urltoken www . urltoken
the defendant allion healthcare , inc . (
allion
or the
company
) is a publicly traded delaware corporation with principal executive offices in melville , new york . it is a national provider of specialty pharmacy and disease - management services focused on hiv / aids patients , specialized biopharmaceutical medications , and services to chronically ill patients .
but allion healthcare has limited its ability to get the best price from vendors by signing a five - year agreement with amerisourcebergen in 2003 . the company now purchases nearly all its drugs from amerisoucebergen and is required to purchase at least 95 % from the supplier . this is unlikely to change in the immediate future , because allion healthcare depends on credit from the supplier to meet its working - capital needs between the time of purchase and reimbursement from the government and private payers .
) - - h . i . g . capital , llc , a leading global private equity firm , today announced that an affiliate has closed its previously announced acquisition of allion healthcare , inc . ( nasdaq : alli ) . based in melville , new york , allion healthcare is a leading national provider of specialty pharmacy and disease management services focused on hiv / aids patients as well as specialized biopharmaceutical medications and services to chronically ill patients . with over $ 400 million in revenue , allion provides critical pharmaceuticals and services to its customers through its network of 17 locations across the country .
law360 , new york ( september 29 , 2014 , 2 : 33 pm edt ) - - a new york federal judge has refused to throw out a suit filed by specialty pharmacy allion healthcare inc . alleging arch insurance co . improperly denied coverage for costs stemming from the criminal investigation of an employee , finding the crime coverage portion of allion’s policy is ambiguous .
earlier this year , allion healthcare agreed to purchase oris medical systems and will close the deal shortly after completing the ipo . the acquisition will give it the rights to labtracker , software that allows doctors to record , track and analyze hiv / aids treatment . the deal also gives allion healthcare the exclusive right to license labtracker to pharmacies . the company says about 200 clinics now use labtracker to monitor about 100 , 000 hiv / aids patients , and the software may be able to attract new customers .
in a sept . 23 order saying that allion , now known as biomed healthcare holdings inc . , can pursue the breach of contract suit it filed after arch refused to pay for costs incurred as a result of new york state prosecutors . . .
pursuant to the definitive merger agreement between affiliates of h . i . g . capital and allion healthcare , signed on october 18 , 2009 , stockholders are entitled to receive $ 6 . 60 per share in cash . the going - private transaction was approved at the stockholders meeting held on january 11 , 2010 . the transaction values allion at approximately $ 278 million .
“allion healthcare has pursued a focused acquisition strategy within the hiv / aids disease state sector , ” said julie decker , focalpoint’s healthcare strategic operating partner . “they have selected quality regional providers in communities with critical market share . whittier goodrich is a respected hiv / aids - centric pharmacy and we feel that this transaction secures a very solid position in the market and demonstrates the ongoing trend of industry consolidation . ”
publicly held allion healthcare , melville . n . y . , would be taken private in a $ 278 million merger deal with private - equity firm h . i . g . capital that , if approved , would pay stockholders $ 6 . 60 per share in cash .
under the terms of the agreement , allion stockholders would receive $ 6 . 60 per share in cash , representing a premium of 30 . 2 percent over allion’s average share price for the five trading days prior to the execution and public announcement of the transaction .
attorneys for defendants h . i . g . capital , llc , brickell bay acquisition corp . , michael p . moran , flint d . besecker , kevin d . stepanuk , william r . miller , gary p . carpenter , willard t . derr and allion healthcare , inc .
allion and its directors and certain executive officers may be deemed to be participants in the solicitation of proxies from allion’s stockholders in respect of the proposed transaction . information about the directors and executive officers of allion and their respective interests in allion by security holdings or otherwise is set forth in its proxy statement relating to the 2009 annual meeting of stockholders , which was filed with the sec on april 30 , 2009 . investors may obtain additional information regarding the interest of the participants by reading the proxy statement regarding the acquisition when it becomes available .
the transaction represents focalpoint’s second healthcare transaction of 2006 , following the recent sale of a la - based infusion pharmacy to bioscrip , inc . nishen radia , managing director of focalpoint commented , “with our healthcare practice set to close more transactions this year , we believe our proprietary knowledge of the key players in all of the major healthcare constituencies – providers , payors and manufacturers – enables our firm to best serve clients in pursuing growth opportunities or devising appropriate exit strategies . ”
in 2004 , allion healthcare says as many as 1 . 6 million people in the u . s . were infected with hiv , including as many as 500 , 000 taking medications . in 2004 , the company ' s customers paid an average of $ 19 , 800 each for medication .
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the plaintiffs contend that parallex and mirra , as controlling shareholders of allion , owed fiduciary duties of loyalty and care to the other allion shareholders . the plaintiffs contend that parallex and mirra breached their fiduciary duties by forming the control group , which caused the board to sell allion , resulting in the accretion of the rollover shareholders ' equity in the surviving corporate entity and the sale of the unaffiliated public shareholders ' equity at a discount .
we have granted cit healthcare llc a security interest in substantially all of our assets , and if we default under our credit agreement , cit may foreclose on our assets .
kirkland & ellis llp and mcdermott will & emery llp ( providing regulatory advice ) served as legal counsel to h . i . g . and alston & bird llp served as legal counsel to allion . raymond james & associates , inc . served as financial advisor to the allion board of directors .
in accordance with nasdaq marketplace rule 4350 ( i ) ( 1 ) ( c ) , the company issued to the former biomed stockholders new allion common stock in an amount equal to 19 . 9 % of its common stock outstanding at the closing of the merger , with the remainder of the stock portion of the purchase price issued in new allion series a - 1 preferred stock . the total number of shares of allion common stock issued at closing was 3 , 224 , 511 , and the total number of shares of allion series a - 1 preferred stock issued at closing was 6 , 125 , 448 . on june 24 , 2008 the companys stockholders approved the issuance of 6 , 125 , 448 shares of common stock , reflecting the one - for - one conversion of the series a - 1 preferred stock . the shares of allion common stock issued to the former biomed stockholders represent 37 % of the total allion shares outstanding .
the four defendants allegedly distributed illegally obtained hiv drugs through the brooklyn and suffolk county locations of the high - volume moms pharmacy , a division of private equity firm h . i . g . capital llc ' s allion healthcare inc . the pharmacy then sold the drugs to medicaid recipients and billed the state ' s medicaid program . . .
the foundation operates 19 pharmacy centers in california , florida and washington , d . c . moms pharmacy has 12 pharmacies and pharmacy access centers in california , connecticut , massachusetts , new york and washington state . it was part of allion healthcare , which was acquired by hig capital , a private - equity firm , for $ 278 million in 2010 . in april , the new york attorney general ' s office announced that it had arrested and indicted four individuals who illegally obtained hiv drugs that were then dispensed to medicaid recipients through moms pharmacy and allion healthcare . the attorney general ' s office alleged that at least $ 155 million in false claims were submitted to the state ' s medicaid program .
) - - allion healthcare , inc . ( nasdaq : alli ) today announced that it has entered into a definitive merger agreement for the company to be acquired and taken private by an affiliate of h . i . g . capital , llc , a leading global private investment firm , in a transaction valued at approximately $ 278 million , including the assumption or repayment of approximately $ 79 million of indebtedness . the agreement was unanimously approved by allion’s board of directors , including a special committee of independent directors .
allion healthcare ' s net sales grew to $ 60 . 1 million in 2004 from $ 5 million in 2000 , or a compound annual growth rate of about 86 % per year . but the company has yet to generate steady profits . the predecessor company , care group , filed for chapter 11 bankruptcy protection in september 1998 and emerged in february 1999 .
for the year ended dec . 31 , allion healthcare reported a loss of $ 2 . 6 million . it had an accumulated deficit of $ 10 . 6 million on that date . however , for the three months ended march 31 , the company reported pro forma adjusted net income of $ 653 , 000 on revenue of $ 27 . 3 million .
allion healthcare , inc . ( “allion” ) ( nasdaq : alli ) , a national provider of specialty pharmacy and disease management services focused on hiv / aids patients , has closed the purchase of certain assets , including customer lists , books and records , files and goodwill and other tangible and intangible assets , from whittier goodrich pharmacy , inc . ( “whittier” ) for $ 15 . 0 million in cash . whittier reported un - audited 2005 revenue of approximately $ 30 . 0 million . focalpoint acted as exclusive financial advisor to whittier .
j . s . c . footnotes footnote 1 : except parallex , none of the former biomed shareholders are parties to this action . footnote 2 : although allion is named as a defendant and moves with the director defendants to dismiss the complaint insofar as it is asserted against them , the plaintiff has not asserted any causes of action against allion .
allion healthcare , inc . ( nasdaq : alli ) today announced that it has entered into a definitive merger agreement to be acquired and taken private by an affiliate of h . i . g . capital , llc , a leading global private investment firm , in a transaction valued at approximately $ 278 million , including the assumption or repayment of approximately $ 79 million of indebtedness . the agreement was unanimously approved by allion ' s board of directors , including a special committee of independent directors . under the terms of the agreement , allion stockholders would receive $ 6 . 60 per share in cash , representing a premium of 30 . 2 percent over allion ' s average share price for the five trading days prior to the execution and public announcement of the transaction . the transaction is expected to close in the first quarter of 2010 . raymond james & associates , inc . served as financial advisor to the allion board of directors . alston & bird llp is serving as legal counsel to the company and h . i . g . ' s legal counsel is kirkland & ellis , llp .
[ * 1 ] matter of allion healthcare inc . 2010 ny slip op 51519 ( u ) [ 28 misc 3d 1228 ( a ) ] decided on august 13 , 2010 supreme court , suffolk county emerson , j . published by new york state law reporting bureau pursuant to judiciary law § 431 . this opinion is uncorrected and will not be published in the printed official reports .
after allion acquired biomed in 2008 , the defendant fint d . besecker (
besecker
) , who was a member of allion ' s board , purchased a 6 % ownership interest in parallex from mirra . in may 2009 , at besecker ' s request , mirra repurchased besecker ' s ownership interest in parallex for a gain of $ 920 , 000 to besecker .
ordered that the motion by the defendants michael p . moran , william r . miller , gary p . carpenter , willard t . derr , kevin d . stepanuk , flint d . besecker , and allion healthcare , inc . , for an order pursuant to cplr 3211 ( a ) ( 1 ) and ( 7 ) , dismissing the complaint insofar as it is asserted against them , is denied ; and it is further
allion healthcare , based in melville , n . y . , plans to offer 4 million shares at $ 12 to $ 14 each through underwriters led by thomas weisel partners . the proposed nasdaq symbol is alli . the deal is expected to be priced the week of june 20 . it plans to use net proceeds raised to repay debt , make a $ 1 million payment to oris medical , redeem outstanding warrants and for working capital .
this press release contains forward - looking statements within the meaning of that term in section 27a of the securities act of 1933 and section 21e of the securities exchange act of 1934 . these forward - looking statements include statements regarding benefits of the proposed transaction , future performance , financing for the transaction and the completion of the transaction . these statements are based on the current expectations of management of allion healthcare , inc . there are a number of risks and uncertainties that could cause actual results to differ materially from the forward - looking statements included in this document . for example , among other things , conditions to the closing of the transaction may not be satisfied and the transaction may involve unexpected costs , unexpected liabilities or unexpected delays . additional factors that may affect the future results of allion are set forth in its filings with the securities and exchange commission , which are available at urltoken . unless required by law , allion healthcare , inc . undertakes no obligation to publicly update or revise any forward - looking statements , whether as a result of new information , future events or otherwise .
in april 2008 , allion purchased biomed america , inc . (
biomed
) , for $ 99 . 4 million in cash and stock . as a result , the former biomed stockholders ( the
rollover [ * 2 ] shareholders
) became the owners of approximately 41 % of allion ' s outstanding common stock , and the defendant parallex , llc (
parallex
) , which was one of the former biomed stockholders , became allion ' s largest shareholder with 27 . 5 % of the outstanding shares of allion ' s common stock . [ fn1 ] the defendant raymond a . mirra , jr . (
mirra
) is the former president of biomed and the sole owner and manager of parallex . upon consummation of the sale of biomed , the rollover shareholders and allion entered into a stockholders ' agreement ( the
stockholders ' agreement
) dated april 4 , 2008 , which permitted the rollover shareholders to designate two directors to allion ' s six - member board of directors ( the
board
) in 2008 , 2009 , and 2010 . the rollover shareholders designated the defendants william r . miller (
miller
) , and kevin d . stepanuk (
stepanuk
) to the board in june 2008 .
on october 20 , 2009 , the plaintiff denise fowler , an allion shareholder , commenced this action challenging the allion merger on her own behalf and on behalf of all others similarly situated . on october 27 , 2009 , another action challenging the allion merger was filed in the delaware chancery court by the virgin islands government employees ' retirement system (
vigers
) . two days later , on october 29 , 2009 , steamfitters local union 449 (
steamfitters
) filed a second action in the delaware chancery court challenging the allion merger . that action was subsequently withdrawn and recommenced in this court . by an order of this court dated november 18 , 2009 , and re - dated on december 17 , 2009 , this action and the steamfitters action were consolidated . on november 2 , 2009 , union asset management holding ag filed a third action in the delaware chancery court challenging the allion merger . on november 16 , 2009 , the delaware chancery court granted an unopposed motion for class certification by vigers and union asset management holding ag . [ * 5 ]
allion provides specialty drug and disease management services focused on hiv / aids patients . it operates distribution centers in or near major metropolitan areas , including new york , miami , seattle , san francisco and los angeles .
the consideration associated with the common stock was valued at $ 5 . 14 per share based on the average closing price of allion common stock three days before and after the march 13 , 2008 announcement of the merger .
many of our competitors have substantially greater resources and marketing staffs and more established operations and infrastructure than we have . a significant factor in effective competition will be our ability to maintain and expand our relationships with patients , healthcare providers and government and private payors .
focalpoint is an independent investment bank , specializing in mergers and acquisitions , private placements ( both debt and equity ) , and financial restructurings . the firm’s primary focus is on middle - market companies with revenues between $ 10 million and $ 250 million in a diverse range of industries . focalpoint has an active m & a healthcare practice which focuses on integrated supply chains and service providers . focalpoint has expertise in specialty pharmacy , hospitals and outpatient specialty services , clinical research organizations , medical supplies distribution and home healthcare .
in january 2009 , the board contemplated selling the company and retained raymond james & associates , inc . (
raymond james
) as its financial advisor in connection therewith . allion executed confidentiality agreements with 51 potential buyers . however , as of april 3 , 2009 , the deadline that allion had set for proposals , it received only five preliminary written proposals . each proposal provided for the purchase of all of allion ' s outstanding common stock for cash at prices ranging from $ 4 . 66 to $ 6 . 00 per share . notwithstanding the april 3rd deadline , allion received three additional proposals ( two written and one oral ) a few days after the deadline had passed . the additional proposals provided for the purchase of all of allion ' s outstanding common stock for cash at prices ranging between $ 4 . 25 and $ 6 . 50 per share . on april 13 , 2009 , raymond james , alston & bird ( allion ' s legal advisor ) , the board , and allion ' s chief financial officer russell j . fichera (
fichera
) met to review the eight preliminary proposals . the board agreed to allow five of the potential buyers to move forward in the process . the board directed raymond james to request improved proposals from the two who had submitted the lowest price ranges and to obtain a written proposal with more specific terms from the one who had submitted an oral proposal . the board created an informal negotiating committee ( the
negotiating committee
) comprised of the defendants gary carpenter (
carpenter
) and besecker to review , evaluate , negotiate , and recommend to the board any potential transaction involving a change in control of the company .
the transaction is expected to close in the first quarter of 2010 , subject to customary closing conditions , including customary antitrust and regulatory approvals . further , the transaction is subject to the approval of the merger agreement by holders of a majority of the outstanding shares of the company’s common stock . parallex llc and certain other allion stockholders that in the aggregate represent approximately 41 . 1 percent of allion’s outstanding shares have entered into agreements with h . i . g . to vote in favor of the merger .
raymond james & associates , inc . served as financial advisor to the allion board of directors . alston & bird llp is serving as legal counsel to the company and h . i . g . ’s legal counsel is kirkland & ellis , llp .
allion provided the six highest bidders with access to confidential financial , legal , and operational information , as well as a draft of a proposed merger agreement . the defendant h . i . g . capital , llc (
h . i . g .
) , a delaware private equity firm , who had neither entered into a confidentiality agreement with allion nor submitted a preliminary proposal to raymond james , was given access to the same information as the six highest bidders after it indicated its desire to participate in the process . h . i . g . submitted the ninth preliminary proposal on april 20 , 2009 , which contemplated an all - cash purchase of all of allion ' s outstanding common stock at a price [ * 3 ] range of $ 5 . 50 to $ 6 . 00 per share . on april 27 , 2009 , allion received the tenth and final preliminary written proposal , which provided for a purchase price of between $ 7 . 00 and $ 7 . 50 per share .
credit agreement . on april 4 , 2008 , we acquired 100 % of the stock of biomed for $ 48 , 000 in cash , 9 , 350 shares of allion common and preferred stock and the assumption of $ 18 , 569 of biomed debt .
the purchase price of $ 121 , 222 for all of the outstanding shares of biomed was paid with funds from a new senior credit facility provided by cit healthcare llc ( see note 7 financing activity ) , available cash , and newly issued allion common stock and series a - 1 preferred stock . the aggregate consideration paid to the former biomed stockholders consisted of $ 48 , 000 in cash and a combined total of approximately 9 . 35 million shares of allion common stock and series a - 1 preferred stock . the company also assumed $ 18 , 569 of biomeds outstanding indebtedness and incurred direct acquisition costs of $ 2 , 612 . in addition to the purchase price , the company may make an earn out payment in 2009 to the former biomed stockholders if the biomed business achieves certain financial performance benchmarks during the first full 12 calendar months following closing . it is expected that any earn out payment will be recorded as additional goodwill .
h . i . g . purportedly believed that it could not complete a transaction on economically acceptable terms without a substantial percentage of allion ' s stockholders agreeing to rollover their equity . accordingly , h . i . g . met with mirra to discuss the company ' s business before the may 18th deadline . on may 20 , 2009 , h . i . g . submitted a letter to parallex outlining a proposed structure for a transaction in which the rollover shareholders would be required to exchange their shares of allion common stock for equity interests in the surviving entity . h . i . g . submitted a written confirmation of its proposal to raymond james to purchase allion ' s outstanding common stock for between $ 5 . 50 and $ 6 . 00 per share in cash if h . i . g . and mirra reached a suitable arrangement regarding mirra ' s continued involvement in the company .
on may 6 , 2008 , a settlement was entered in superior court of california , san diego county , of oris medical systems , inc . v . allion healthcare , inc . , et al . , action no . gic 870818 . pursuant to the terms of the settlement , we agreed to pay oms $ 3 . 95 million in exchange for dismissal of the complaint and cross complaint with prejudice and mutual general release of all claims among the parties . we accrued for the litigation settlement of $ 3 . 95 million in the three - month period ended march 31 , 2008 . payment of the settlement was made on may 27 , 2008 .
new york - attorney general eric t . schneiderman today announced the arrests and indictment of four ringleaders of a massive scheme to distribute black market prescription hiv drugs and defraud the medicaid program of $ 155 million . after an investigation code - named “operation black market meds , ” the attorney general’s medicaid fraud control unit shut down an illegal operation that was distributing hiv prescription drugs obtained on the black market through moms pharmacy , a high - volume pharmacy with satellites in suffolk county and brooklyn . moms , and its parent company allion healthcare , then dispensed the illegally obtained drugs to medicaid recipients , and billed the new york state medicaid program for these un - sellable drugs .
the amended consolidated complaint in this action alleges , inter alia , that the allion merger unfairly favored the rollover shareholders , who collectively owned 41 % of allion ' s common stock , and that the price allion ' s unaffiliated public shareholders received for their shares ( $ 6 . 60 per share ) was undervalued . specifically , the plaintiffs allege that moran , besecker , carpenter , derr , miller , and stepanuk ( the
director defendants
) breached their fiduciary duties to the plaintiffs and other public stockholders of the company by failing to engage in an honest and fair sale process , by failing to maximize shareholder value in connection with the merger , by failing to provide them with all material information regarding the merger , and by misrepresenting the sale process leading to the merger . the plaintiffs allege that parallex and mirra ( the
parallex defendants
) breached their fiduciary duties by participating in an unfair sale process that benefitted the rollover shareholders at the expense of allion ' s unaffiliated public shareholders . the plaintiffs allege that h . i . g . and brickell bay acquisition corp . , a corporation formed solely in anticipation of the merger , ( the
h . i . g . defendants
) aided and abetted such breaches of fiduciary duties .
finally , it cannot be said that besecker was disinterested as a matter of law . he had close ties to mirra and parallex , having purchased a 6 % ownership interest in parallex from mirra , which he resold to mirra at a substantial profit in may 2009 , when the sale of allion was being negotiated .
as previously noted , mirra was not an allion shareholder . thus , in order to hold mirra liable for any purported breaches of fiduciary duty by parallex , it is necessary to pierce parallex ' s corporate veil . the plaintiffs seek to pierce the corporate veil on the ground that mirra was parallex ' s sole shareholder .
the parties reached an agreement on october 18 , 2009 , providing for the sale of allion ' s stock to h . i . g . for $ 6 . 60 per share in cash and for the rollover shareholders to receive a 29 . 2 % interest in the surviving corporation . after reviewing the terms of the proposal , the special committee recommended that the board approve the final terms of the proposed merger agreement , and raymond james delivered its opinion to the board that the transaction was fair from a financial point of view to allion ' s unaffiliated public shareholders . the board unanimously approved the offer . on january 11 , 2010 , three weeks after allion filed its final proxy , allion ' s shareholders approved the merger at a special meeting of stockholders . on that date , there were 28 , 700 , 248 shares of the company ' s common stock issued and outstanding . present in person or by proxy at the meeting were the holders of 25 , 357 , 973 shares of the issued and outstanding shares entitled to vote . of the 25 , 357 , 973 total shares present at the meeting , 99 . 18 % voted in favor of the merger , and . 72 % voted against it . no shareholder demanded an appraisal , and the merger closed on january 13 , 2010 . procedural history
a news release from the provider of specialty pharmacy and disease - management services for hiv / aids patients said the buyout would pay shareholders a premium of 30 % over allion ' s average share price for the five trading days prior to the execution of the deal . the deal is still subject to approval by shareholders and regulators , and is expected to close in the first quarter of 2010 . about 41 % of shareholders have already entered into agreements with h . i . g . to vote in favor of the deal . what do you think ? post a comment on this article and share your opinion with other readers . submit your comments to modern healthcare online at mheditorial @ urltoken . please be sure to include your hometown and state , along with your organization and title .
our sales and profitability are affected by the efforts of healthcare payors to contain or reduce the cost of healthcare by lowering reimbursement rates , limiting the scope of covered services , and negotiating reduced or capitated pricing arrangements . any changes that lower reimbursement levels under medicaid , medicare or private payors could also reduce our future revenue . furthermore , other changes in these reimbursement programs or in related regulations could reduce our future revenue . these changes may include modifications in the timing or processing of payments and other changes intended to limit or decrease the growth of medicaid , medicare or third party expenditures . in addition , the failure , even if inadvertent , by us or our patients to comply with applicable reimbursement regulations could adversely affect our reimbursement under these programs and our ability to continue to participate in these programs . in addition , our failure to comply with these regulations could subject us to other penalties .
gross , who was accused of receiving over $ 25 million in ill - gotten gains from the scheme , was convicted of grand larceny , criminal diversion and money laundering . schabel pleaded guilty to charges of receiving more than $ 5 million in bribes . both now face multiple years in prison ; gross plans an appeal , according to his attorney . moms pharmacy , which had mail - order operations nationally , is now owned by the aids healthcare foundation , a los angeles nonprofit .
while each of the plaintiffs ' claims of influence standing alone may not be sufficient to support a conclusion that the director defendants were interested , the totality of the circumstances and overlapping issues create a reasonable inference sufficient to survive a motion to dismiss that allion ' s directors did not possess the care , attention , and sense of responsibility necessary to afford them the status of independent directors . 2 . the duty of care
in connection with the proposed transaction , the company will file proxy materials with the sec relating to the solicitation of proxies to vote at a special meeting of stockholders to be called to approve the proposed transaction . the definitive proxy statement will be mailed to the stockholders of the company in advance of the special meeting . stockholders of the company are urged to read the proxy statement and other relevant materials when they become available because they will contain important information about the proposed transaction . stockholders may obtain a free copy of the proxy statements and any other relevant documents ( when available ) at the sec ' s web site at urltoken . the definitive proxy statements and these other documents will also be available on the company ' s website ( urltoken ) and may be obtained free from the company by directing a request to allion healthcare , attn : investor relations , 1660 walt whitman road , suite 105 , melville , ny 11747 .
on april 4 , 2008 , the company and its wholly owned subsidiary , biomed healthcare , inc . , a delaware corporation ( merger sub ) , completed the acquisition of biomed america , inc . , a delaware corporation ( biomed ) , pursuant to an agreement and plan of merger ( the agreement ) , dated as of march 13 , 2008 , by and among allion , merger sub , biomed and biomeds majority owner , parallex llc , a delaware limited liability company . the acquisition was effected by the merger of biomed with and into merger sub , with merger sub as the surviving entity and a wholly owned subsidiary of the company ( the merger ) . the acquisition of biomed expands the companys product and service offerings and will diversify its payor base by increasing the revenues received from non - governmental payors . the companys management believes biomed has a leading reputation among patients and referring physicians managing hemophilia , immune deficiencies and other chronic conditions .
when the story broke in 2012 , a spokesperson for allion told pharmaceutical commerce that “as the alleged fraud was financial in nature , we have no evidence at this time indicating that the distribution of these products caused adverse health consequences to our patients . ” however , the insidiousness of diversion or counterfeiting in cases like this , or for incapacitated seniors in nursing homes , is that the patient follow - up is very difficult to carry out .
mike moran , allion’s chairman and chief executive officer commented , “our agreement with h . i . g . provides a compelling all - cash premium to our shareholders . throughout this process , our board has been committed to delivering value and liquidity to our shareholders , and we believe this transaction will accomplish both of those objectives . we look forward to working with h . i . g . to complete this transaction as expeditiously as possible . ”
oris medical systems , inc . v . allion healthcare , inc . , et al . , superior court of california , san diego county , action no . gic 870818 . on august 14 , 2006 , oms filed a complaint against allion , oris health , inc . , which we refer to as oris health , and moms pharmacy , inc . , which we refer to as moms , alleging claims for breach of contract , breach of the implied covenant of good faith and fair dealing , specific performance , accounting , fraud , negligent misrepresentation , rescission , conversion and declaratory relief , allegedly arising out of the may 19 , 2005 asset purchase agreement between oris health and moms on the one hand , and oms on the other hand . the court dismissed the negligent misrepresentation cause of action . allion , oris health and moms filed a cross - complaint against oms , oms majority shareholder pat iantorno , and the iantorno management group for breach of contract , breach of the implied covenant of good faith and fair dealing , fraud , rescission and related claims . prior to trial , which began april 25 , 2008 , oms dismissed its claims for rescission and conversion and we dismissed the fraud claims and several other claims . on may 6 , 2008 , during trial , the parties settled the entire action . pursuant to the terms of the settlement , we agreed to pay oms $ 3 . 95 million and dismiss the cross - complaint with prejudice in exchange for mutual general releases and dismissal of the complaint with prejudice . as part of the settlement , the parties have agreed that the asset purchase agreement has terminated , with no further earnout payments due by us . we accrued for the litigation settlement of $ 3 . 95 million in the three - month period ended march 31 , 2008 . payment of the settlement was made on may 27 , 2008 .
the defendants moved to stay this action , inter alia , on the ground that the pending class action in delaware , allion ' s state of incorporation , asserts the same claims against the same defendants as this action . by an order dated december 22 , 2009 , this court denied the motion , finding that the defendants had not met their burden of establishing that the ends of justice and the convenience of the parties would best be served if the litigation were to proceed in delaware . the director defendants and allion , the parralex defendants , and the h . i . g . defendants now move separately to dismiss the amended consolidated complaint on the grounds that they have a defense founded upon documentary evidence ( cplr 3211 [ a ] [ 1 ] ) and that the complaint fails to state a cause of action ( cplr 3211 [ a ] [ 7 ] ) . [ fn2 ] standard for a motion to dismiss
michael p . moran has served as our chairman , chief executive officer and president and as a member of our board of directors since 1997 . from 1996 to 1997 , mr . moran was a regional vice president at coram healthcare , inc . from 1990 to 1996 , mr . moran was a regional vice president for chartwell home therapies , inc . prior to 1990 , mr . moran held various sales and management positions at critical care america , inc . mr . moran received a b . a . in management from assumption college .
the defendants include glenn schabel , the supervising pharmacists at moms pharmacy and allion healtcare , who allegedly accepted more than $ 274 mllion worth of black hiv medications from a web of shell companies . the firms were controlled by stephen manuel costa , a 27 - year - old florida resident , who is accused of disguising the sale of the black market medications for resale to moms patients , many of whom were on medicaid , the government health insurance program for the needy .
gross profit . our gross profit reflects net sales less the cost of goods sold . cost of goods sold is the cost of pharmaceutical products we purchase from wholesalers and the labor cost associated with nurses we provide to administer medications . the amount that we are reimbursed by government and private payors has historically increased as the price of the pharmaceuticals we purchase has increased . however , as a result of cost containment initiatives prevalent in the healthcare industry , private and government payors have reduced reimbursement rates , which may prevent us from recovering the full amount of any price increases .
our industry is highly competitive , fragmented and undergoing consolidation , with many public and private companies focusing on different products or diseases . each of our competitors provides a different mix of products and services than we do . some of our current and potential competitors include : • specialty pharmacy distributors such as , accredo health , inc . , bioscrip , inc . , curative health services , inc . , and priority healthcare corp . ; • pharmacy benefit management companies such as , medco health solutions , inc . , expressscripts , inc . and caremark , rx , inc . ; • specialty pharmacy divisions of national wholesale drug distributors ; • hospital - based pharmacies ; • retail pharmacies ; • manufacturers that sell their products both to distributors and directly to clinics and physician offices ; and • hospital - based care centers and other alternate site healthcare providers . many of our existing and potential competitors have substantially greater financial , technical marketing and distribution resources than we do . additionally , many of these companies have greater name recognition and more established relationships with hiv / aids patients . furthermore , these competitors may be able to adopt more aggressive pricing policies and offer customers more attractive terms than we can .
federal and state investigations and enforcement actions continue to focus on the healthcare industry , scrutinizing a wide range of items such as referral and billing practices , product discount arrangements , dissemination of confidential patient information , clinical drug research trials , pharmaceutical marketing programs , and gifts for patients . it is difficult to predict how any of the laws implicated in these investigations and enforcement actions may be interpreted to apply to our business . any future investigation may cause publicity , regardless of the eventual result of the investigation , or its underlying merits , that would cause potential patients to avoid us , reducing our net sales and profits and causing our stock price to decline .
the aids healthcare foundation , a los angeles - based not - for - profit provider of hiv / aids care , has acquired moms pharmacy , a melville , n . y . - based specialty pharmacy that provides medications and support services to patients with hiv / aids . financial terms of the deal were not disclosed , according to a news release . the transaction closed monday . “moms pharmacy ' s strong national footprint coupled with ahf ' s existing comprehensive offerings will bolster our ability to serve the communities in our core markets as well as increase our impact through new operations in key markets on the east and west coast , ” said ahf president michael weinstein .
( b ) the condensed consolidated financial statements include the accounts of allion healthcare , inc . and its subsidiaries . the condensed consolidated balance sheet as of june 30 , 2008 , the condensed consolidated statements of income for the three and six months ended june 30 , 2008 and 2007 , and the condensed consolidated statements of cash flows for the six months ended june 30 , 2008 and 2007 are unaudited and have been prepared by the company . the unaudited financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with article 10 of regulation s - x and the instructions to form 10 - q . accordingly , they do not include all of the information and footnotes required to be presented for complete financial statements . the accompanying financial statements reflect all adjustments ( consisting only of normal recurring items ) that are , in the opinion of management , necessary for a fair presentation of the results for the interim periods presented . the accompanying condensed consolidated balance sheet at december 31 , 2007 has been derived from audited financial statements included in the companys annual report on form 10 - k for the year ended december 31 , 2007 , as filed with the securities and exchange commission ( the sec ) on march 17 , 2008 .
the acquisition was recorded by allocating the purchase price to the assets acquired , including intangible assets , based on their estimated fair values at the acquisition date . the excess cost over the net amounts assigned to the fair value of the assets acquired is recorded as goodwill . the results of operations from the acquisition is included in allions consolidated operating results as of the date the business was acquired . the biomed business will operate as a separate reportable segment ( see note 9 operating segments ) . the goodwill and identifiable intangible assets recorded as a result of the biomed acquisition are not expected to be deductible for tax purposes .
laws remain open to interpretation and have not been addressed by substantive court decisions to clarify their meaning . we are unable to predict what additional federal or state legislation or regulatory initiatives may be enacted in the future relating to our business or the healthcare industry in general , or what effect any such legislation or regulation might have on us . further , we cannot provide any assurance that federal or state governments will not impose additional restrictions or adopt interpretations of existing laws that could increase our cost of compliance with such laws or reduce our ability to become profitable . if we are found to have violated any of these laws , we could be required to pay fines and penalties , which could materially adversely affect our profitability and our ability to conduct our business as currently structured .
attorney general schneiderman’s investigation also revealed that ira gross , another licensed pharmacist , brokered the sale of the illegally diverted drugs between schabel and costa . the fourth defendant , harry abolafia , created false invoices for costa’s companies—smc distributors , fidelity wholesale , optimus wholesale , and nuline pharmaceuticals—in order to make the transactions appear to be legitimate . in total , on behalf of allion , schabel purchased $ 274 million worth of black market hiv medications from costa . for their efforts , schabel , gross and abolafia were all paid a portion of costa’s profit : $ 5 , 336 , 465 , $ 21 , 165 , 374 and $ 1 , 429 , 612 , respectively .
the two lowest bidders withdrew from the bidding process . at the direction of the negotiating committee , the defendant michael p . moran (
moran
) , allion ' s chairman of the board , president , and chief executive officer , and fichera made presentations regarding the company ' s business to the eight remaining potential buyers . additionally , raymond james notified such potential buyers of the procedures for submitting a final offer and set a deadline for final offers of may 18 , 2009 . during the weeks prior to may 18 , 2009 , all of the remaining potential buyers except h . i . g . notified raymond james of their decision to withdraw from the process .
if we are unable to successfully combine the businesses of biomed and allion in a manner that permits the combined company to achieve the growth anticipated to result from the merger , the anticipated benefits of the merger may not be realized fully or at all or may take longer to realize than expected . in addition , the integration process could result in the loss of key employees of biomed , the disruption or interruption of , or the loss of momentum in , our business , inconsistencies between each businesss standards , controls , procedures and policies , any of which could adversely affect our ability to maintain relationships with customers , suppliers and employees or our ability to achieve the anticipated benefits of the merger , or could reduce earnings or otherwise adversely affect the business and financial results of the combined company .