Connecticut NEMT Ambulette Service, 17-Year Non-Emergency Medical Transport

Full Editorial Writeup

This Connecticut-based Non-Emergency Medical Transportation (NEMT) company has operated since 2009, providing ambulette services across all Connecticut counties. It serves a sticky, repeat-use clientele: dialysis centers, nursing homes, assisted living facilities, routine doctor's appointments, and private pay riders. The business runs a fleet of 12 late-model wheelchair vans (model years 2014 to 2024), each outfitted with two or three wheelchair lifts, GPS, and cameras, and currently handles over 750 trips per week with 13 full-time employees.

The demand picture is unusually favorable. Several local competitors exited during COVID-19, and the company is now turning down additional Medicaid work it cannot service, a clear signal that capacity, not demand, is the binding constraint. Billing and scheduling flow through state-provided software integrated directly with Medicaid, which standardizes reimbursement and reduces collection friction compared to a cash-pay or commercial-insurance model.

At $1.2M revenue and $525K cash flow, this business carries a roughly 44 percent owner-earnings margin, which is strong for a transportation operation and reflects the recurring, route-density nature of dialysis and facility runs. The asking price of $2.1M at 4x includes all 12 vehicles and $300K of FF&E, plus state licenses, third-party contracts, and the existing driver base. Seller financing is on the table: $1.3M down with $800K over 3 years at 5 percent.