A theoretical analysis of photoassociation in ultracold metastable helium has been undertaken for the 2(^3)S1 + 2(^3)S1 to 2(^3)S1 + 2(^3)P transition. A full multichannel calculation is presented for two aspects of the system, a) the accurate calculation of energies for the bound vibrational levels of the dimer; and b) the non-perturbative calculation of the photoassociation line shapes allowing for abitrary laser intensity and detuning. A strong emphasis is placed on the accuracy of the calculations, and the elimination of approximations that have been used in previous investigations. The results indicate that full multichannel calculations are required rather than approximate single-channel calculations in some important situations, and are especially useful for making assignments between experiment and theory. Bound levels have been previously measured from the photoassociation of cold metastable thermal gases to energies close to the three asymptotes j = 0, 1, 2 of the 2(^3)S1 → 2(^3)Pj atomic transition. Previous analysis of these measurements was made using either approximate accumulated phase techniques based on long-range single-channel potentials, or using multichannel calculations and long-range potentials. Because accurate short-range electronic potentials have been calculated only recently, this thesis presents the first multichannel calculation for the levels near the j = 1, 2 asymptotes. The new short-range potentials had previously been used in an approximate single-channel calculation, but this type of calculation ignores the effects of non-adiabatic and Coriolis couplings. Presented here are the binding energies calculated from a fully multichannel technique which includes these couplings, and some differences of up to 10% from the single-channel calculations are observed. The detailed knowledge of the bound wave functions is then exploited to determine a set of observability criteria that produce a near unique assignment of theoretical levels to experimental observations. From these unique ...