Ambulance & Emergency Transport
Private ambulance operators providing emergency and non-emergency transport.
Market snapshot
These figures describe Non-Emergency Medical Transport (10.7.5), the segment that Ambulance & Emergency Transport sits within. They are not figures for Ambulance & Emergency Transport on its own.
- Market size
- ~$26B
- Growth
- ~4.2%CAGR (2017–22, nominal)
- Companies
- ~6,482 firms
69.5% of firms have fewer than 20 employees: 4,507 micro-businesses, below most mandates.
- 20–99
- 1,49075%
- 100–499
- 32817%
- 500+
- 1578%
Funded largely through Medicaid transportation benefits, which makes reimbursement policy the single biggest determinant of margin. Fragmented among small local operators, and consolidating as brokers and managed-care organizations push volume toward providers who can report compliance.
NAICS 485991, 621910. U.S. Census Bureau, 2022 Statistics of U.S. Businesses; U.S. Census Bureau, 2022 Economic Census.
Business model & economics
Revenue model
Per-trip medical-transport fees and benefit reimbursement
Key economics
- Revenue per firm
- $4,031,158
- Revenue per employee
- $108,829
- Employees per firm
- 37.4
- Recurring revenue
- Moderate–High
- EBITDA margin
- Reimbursement- and density-driven
- Capex intensity
- Moderate
recurring patient-transport volume
Characteristics
- Balanced cost base: payroll is 41% of revenue, leaving room to scale margin without cutting staff
- Deep strategic-buyer pool: 157 firms exceed 500 employees, so a scaled asset has trade buyers
- Transports patients to non-emergency medical care.
- Aging population and Medicaid benefits drive demand.
- Active PE roll-up; NEMT brokers manage benefits.
NAICS 485991, 621910. U.S. Census Bureau, 2022 Statistics of U.S. Businesses; U.S. Census Bureau, 2022 Economic Census.
Geographic concentration
North Dakota, West Virginia and Pennsylvania. Medical transport concentrates in rural states with aging populations and consolidated hospital networks, where patients travel furthest to reach care.
U.S. Census Bureau, 2022 Statistics of U.S. Businesses (firms by state), NAICS 485991/621910. Concentration shown by location quotient.
M&A deal context
Who’s acquiring
- Medical-transport providers (GMR/AMR)
- NEMT brokers & platforms
- PE-backed roll-up sponsors
What’s driving deals
- Roll-up of fragmented NEMT operators.
- Aging-demographic and Medicaid demand.
- Technology-enabled coordination.
Find Ambulance & Emergency Transport acquisition targets
Search Acquisera’s index for companies classified under Ambulance & Emergency Transport (10.7.5.1) and build a targeted deal pipeline.
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