Blade Air Mobility To Acquire Trinity Air Medical - Quick Facts

(RTTNews) - Blade Air Mobility, Inc. (BLDE) has agreed to acquire Trinity Air Medical, a multi-modal organ logistics and transportation company. Blade will purchase 100% of the capital stock of Trinity for an upfront purchase price of approximately $23 million and potential additional contingent consideration.

"We expect the combination of Trinity's substantial flight volume with Blade's fast-growing MediMobility business to create the largest dedicated organ air transport company in the United States and enable us to secure more dedicated aircraft, resulting in better availability and pricing for the hospitals we collectively serve," said Will Heyburn, Blade's CFO.

Seth Bacon and Scott Wunsch will become CEO and COO of Blade MediMobility, respectively, and have agreed to five-year non-competition agreements.