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Healthcare Transportation |
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| Listing ID: 68812 Kings and Nassau County |
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Healthcare Passenger Transportation business servicing DOH/Medicaid and over 10 HMOs with 1,000 plus doctor referrals in Kings County, NY. A sector of healthcare that reminds unbothered by recent political pressures from the federal, state and city
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| Listing Details | |
| Industry: | Special Needs Transportation |
| Title: | Healthcare Transportation |
Listed Price: |
$2,000,000 |
| Down Payment: | $500,000 |
Total Sales: |
$2,412,714 |
| Owner Cash Flow: | $650,000 |
Fixtures, Furniture & Equipment: |
$300,000 (Included in listed price) |
| Financing / Terms: Wells Fargo SBA Lending has pre-approved and pre-evaluated this business and it qualifies and will receive a $2,000,000 max capped SBA 7 (a) loan payable over 10 years at the WSJ prime rate plus 200 basis points. |
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| Reason for Sale: Major partner has health related issues. |
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| Training & Support: Training will be available on a consulting contract basis for as long as 1 year or more if need be. |
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| Executive Summary | |
| Business Description: A non-emergency medical transportation company primarily deals with transportation of the elderly and disabled. You’re going to be transporting people who need some form of assistance more so than you would if you needed a taxicab or similar service. Predominantly we transport people who are in wheelchairs, a lot of people who are in stretchers, and a number of people who are ambulatory. Ambulatory meaning that they can walk like me and you, but many times they move a little slower, maybe because of a disability or because of their age, they may have a walker or cane, and therefore they do need a little bit of assistance. So non-emergency medical transportation is, unlike an ambulance service, we are non-emergency. We don’t transport people that need life support or anything, but we do transport people who are wheelchair-bound, stretcher-bound, or just need some general assistance getting in and out of a vehicle, in and out of their medical appointment or destination. |
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| Historical Summary: The company is a privately held transportation company servicing the 5 Boroughs of NY. The original transportation company was founded in 1991. Current ownership purchased the business in 2006 and has rebuilt the company since then. Since operating under new management, the company has seen their annual revenue increase over the past three years. The company operates out of two locations to better serve their clients: Kings County, NY Nassau County, NY The company operates 26 vehicles. All vehicles have GPS systems and Linking/Nextel Radio phone systems. The company services over 100 accounts. The revenue base is made up from: Medicaid – 80% HMO – 20% |
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| Owner Qualifications: The new owner must have employee management skills. He/She must also have financial qualifications to be approved by Wells Fargo SBA Lending for a $2,000,000 7 (a) program loan and should have $500,000 in a cash/certified check dow payment. |
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| Competition: This industry is competitive but due to the stoppage in the issuance of new DOH/Medicaid licenses has made the industry very stable and able to grow with the certain raise in demand of this service. |
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| Potential for Growth: Solicitation of Dialysis Centers for accounts, large medical pavilions, medical buildings, surgery centers, pain management centers, procurement of new HMO providers, doctor referrals, and many more ways to grow this business. |
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| Operations | |
Year Established: |
1991 |
| Year of Last Acquisition: | 2006 |
| Form of Ownership: | S-Corporation |
| Franchise Information: | not applicable |
| Days & Hours of Operation: | 4am-12am 6 days a week |
| Number of Employees: | 31 FT |
| Location | |
Relocatable: |
YES |
| Type of Location: | Commercial |
| Square Footage: | 1800 |
| Facilities / Location Description: Located in office suites: $2,750 Rent for Kings County Office offset by tenant paying $1,400 Rent= Net Rent $1,350 $1,500 Rent for Nassa County Office |
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| Monthly Rent: | $4,250 |