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Business for Sale Summary

Medical Transport Business in Passaic County - 33139

Business Type: healthcare related services,passenger transportation / ambulette
Medical Transport Business in Passaic County
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Financial Information (non-confidential)

General Information
Asking Price $13,000,000 Down Payment $10,000,000
Gross Revenues $11,000,000 Lease Remaining Register Free to View
Owner’s Cash Flow $2,400,000 Number of FT Employees Register Free to View

Financing

$10,000,000 Down and 3M over 3 years at 5%

Business Description

This 19-year-old ambulance company located in Passaic County, New Jersey is available for purchase. The company provides exclusive, 24/7 service to cities, a number of hospitals, more than a dozen nursing homes and various other old age and assisted living facilities in Central and North Jersey. In addition to the service they provide to institutions, they provide service to the major insurance company patients, Medicare and Medicaid patients and private pay individuals as well. The Company's Mission is to provide medical transportation to individuals on a patient-driven basis rather than on a money-driven basis. And on that basis, business continues to grow each year; for example, they were up 15% last year over the year before reaching $11 million in revenue. The company is moving away from the lower margin non-emergency medical transportation business and concentrating its efforts instead on deeper penetration of its hospital patient care and critical care services, and adding more nursing homes and assisted living facilities to its client list. CY2021 will see a significant increase in all major facets of the business and, most notably, in profits. The 24/7 service is provided by 129 full-time drivers, aides, a support staff of 13 that handle intake, customer service and dispatch; they farm out billing and compliance, and a clerical staff. As to vehicles, they count 25 ambulances, 17 wheelchair vans, 2 minivans, 2 spare ambulances, 2 private vehicles, a 22-passenger bus and a service vehicle.

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Disclaimer: The financial information in this business listing has been provided by the Seller. Vested Business Brokers, Ltd. (VBB) has not independently verified this information. Therefore, we make no claims as to the accuracy of this financial summary. Vested recommends that you consult with an accountant, attorney and/or other professionals to represent and assist you in any business transaction. One of our associate brokers will arrange a meeting between you, your representatives, and the Seller, but they are not authorized to make any representations or warranties on behalf of the seller or VBB. You agree to hold Vested Business Brokers and its associated brokers harmless for any misrepresentations made by seller.