Quantum Medical Transportation, Inc. (OTCPK:DRWN) entered into a definitive agreement to acquire United Ambulance, LLC on April 27, 2017. As on June 22, 2017, Quantum Medical Transport raised capital from institutional investors to close its acquisition of United Ambulance, LLC. The capital raise of $0.8 million was done through a private placement. Post acquisition, United Ambulance will continue to operate under its name as the wholly owned subsidiary of Quantum Medical Transport. United Ambulance reported annual revenues of $1.2 million. After the acquisition, management and employees of United Ambulance will be retained. The transaction is expected to close during May 2017. Quantum Medical Transportation, Inc. (OTCPK:DRWN) completed the acquisition of United Ambulance, LLC on June 30, 2017. The $0.81 million debt was incurred as a result of the acquisition of United Ambulance, LLC.