April 6, 1994 |
CareLine Inc. is speeding ahead with its strategy to become the nation's largest ambulance operator. The Irvine-based company said Tuesday that it has signed an agreement to purchase Life Line EMS, an ambulance service in Wichita Falls, Texas, for an undisclosed sum. The deal follows by a week an announcement that CareLine is planning to raise $60 million by selling corporate IOUs so that it can have a war chest for acquisitions. The proposed takeover still needs federal regulatory approvals.
October 27, 1995
Shareholders of CareLine Inc. on Thursday approved the Santa Ana ambulance service company's merger with Laidlaw Inc., a Canadian transportation and waste-management company. As part of the transaction, valued at $330 million, CareLine stockholders will receive 1.1 shares of non-voting Laidlaw stock, worth $145 million, for each CareLine share. Laidlaw also will assume CareLine debt. CareLine will merge with Laidlaw's San Diego-based MedTrans health-care transportation unit.