Limo & Passenger Transportation, Medical Transportation
Active
Non-Emergency Medical Transport, $4.5M Revenue, 53-Vehicle Fleet
New York, United States
Asking Price$2,950,000
Revenue$4,531,368
EBITDA-
Cash Flow$835,673
Description
An established non-emergency medical transportation company in upstate New York, founded in 2013 and run since by its sole owner, a former certified public accountant. It moves Medicaid-eligible riders to dialysis, treatment programs, clinic appointments, hospital discharges, and outpatient care across a multi-county service area, using 53 ambulatory and wheelchair-capable vehicles and about 48 drivers.
Revenue grew from $2.39 million in 2023 to $2.73 million in 2024 to $4.53 million in 2025, a 65.8% increase in the most recent full year. That growth is not a rate increase and it is not an acquisition. In late 2024 the company was awarded seven preferred provider zones by the state's Medicaid transportation manager, with staggered start dates from November 2024 through January 2025. Monthly billings stepped up in exactly that sequence, from roughly $292,000 in November 2024 to $360,000 in December, $368,000 in January 2025, and $518,000 by March. Those zones carry negotiated per-leg rates above the general assigned rate, and all nine zone and destination pairings received a further rate increase effective July 2026.
Current activity is running ahead of the 2025 full year. Five consecutive settled remittance weeks in July and August 2026 averaged $97,098 per week, an annualized run rate of approximately $5.05 million.
Revenue quality is unusually verifiable. Platform billed charges were compared to cash actually remitted by the state fiscal agent across those same five weeks: $481,884 billed against $485,488 paid, a 100.7% realization, every week inside four percent. Denial leakage is effectively nil, and a buyer can validate the top line from third-party payment records rather than the seller's books.
Operations run on a dispatch and claims platform that assigns every leg and files claims daily. Across 53 service days in July and August 2026 the company completed 24,738 legs, averaging 556 legs and about 300 unique riders on a weekday, at a blended $33.20 per leg. Roughly 41% of per-leg revenue is earned above the base ambulatory rate, the direct economic signature of the awarded zone work. Revenue mix is about 60% general assigned Medicaid trips, 30% preferred provider zone work, and 10% direct long-distance rehabilitation discharge transport under a single provider relationship.
The company is enrolled and in good standing as a Medicaid transportation provider and participates in a captive insurance program, with incurred claims down from $310,000 in 2023 and $256,000 in 2024 to $57,000 in 2025 and $23,000 year to date in 2026. A full-time mechanic maintains the fleet in-house from the company's own garage. Staffing is deliberately elastic: a core of full-time drivers is paired with a part-time bench that absorbs seasonal demand, so fixed labor cost is not carried through the winter trough.
The owner works a partial day and describes his role as high level, limited to correspondence with the state transportation manager on territory and rates, escalated rider incidents, and vehicle policy. Dispatch, billing, administration, maintenance, and bookkeeping are handled by staff expected to remain.
Growth is available without inventing anything. The awarded zones are less than two years old and not yet at full utilization, and more are awarded by application to the same counterparty the company already deals with directly. Wheelchair-capable capacity is two units against a service area with materially more wheelchair demand than the company can serve, and wheelchair legs bill at a substantial premium to ambulatory.
Suited to a strategic buyer in medical transportation, a healthcare services platform, or an operator with working capital to fund receivables and fleet. Detailed financials and the confidential information memorandum are available following a signed non-disclosure agreement and buyer qualification.
All figures are unaudited and subject to verification.
Real Estate
Rent is $4,037 per month
Furniture Fixtures & Equipment
$609k
Year Established
2013
Reason Selling
Retirement
Facilities & Assets
Fleet of 53 ambulatory and wheelchair-capable vehicles, 42 of them owned at roughly $608,764 fair market value with the balance financed or leased. Leased dispatch and administrative office plus a separate leased maintenance garage, with an in-house full-time mechanic and a service file on every vehicle. Dispatch, routing, and Medicaid claims platform under contract. Vehicle notes of approximately $706,095 were outstanding at June 30, 2026 and will be addressed at closing.
Support & Training
Owner will ensure a successful transition
Market & Competition
Demand is driven by Medicaid enrollment and outpatient treatment volume, not by discretionary spending, so it holds up through economic cycles. Trip assignment in this market flows through a single state-designated transportation manager, which favors operators with clean audit records, adequate fleet capacity, and the ability to accept assigned work reliably. Three other ambulatory operators compete in the service area, one of which is limited to wheelchair van work. Barriers to entry are real: provider enrollment, vehicle and driver compliance, insurance, and the working capital to carry receivables between service and remittance. Preferred provider zones are awarded by application and are held by the operator who wins them, which is a durable position rather than a contract that resets annually.
Growth Opportunities
Four levers, none of which require a new business model. First, the seven awarded preferred provider zones went live between November 2024 and January 2025 and are not yet at full utilization, so the revenue already booked understates their capacity. Second, additional zones are awarded by application to the same counterparty the company already deals with directly. Third, wheelchair-capable capacity is two units against a service area with materially more wheelchair demand than the company can serve, and wheelchair legs bill at a substantial premium to ambulatory, so adding lift-equipped vehicles converts turned-down trips into high-rate revenue. Fourth, direct contracting with treatment providers outside the assigned system is today a single relationship producing about 10% of revenue and is repeatable with other facilities.
Business listed by
Leading Edge Brokers
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