10.7.5.2Vertical
Medicaid NEMT Providers
Companies providing non-emergency medical transport under Medicaid.
Market snapshot
These figures describe Non-Emergency Medical Transport (10.7.5), the segment that Medicaid NEMT Providers sits within — not Medicaid NEMT Providers on its own.
- Market size
- ~$20B
- Growth
- ~5.3%CAGR (2017–22, nominal)
- Companies
- ~5,600
FragmentationFragmentedEstimate
U.S. Census Bureau 2022 CBP/Economic Census, NAICS 621910 (ambulance services) — covers both emergency and non-emergency medical transport; NEMT is a large, growing subset.
Business model & economics
Revenue model
Per-trip medical-transport fees and benefit reimbursement
Key economics
- Recurring revenue
- Moderate–High
- EBITDA margin
- Reimbursement- and density-driven
- Capex intensity
- Moderate
recurring patient-transport volume
Characteristics
- Transports patients to non-emergency medical care.
- Aging population and Medicaid benefits drive demand.
- Active PE roll-up; NEMT brokers manage benefits.
M&A deal context
Deal activityHigh
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 Medicaid NEMT Providers acquisition targets
Search Acquisera’s index for companies classified under Medicaid NEMT Providers (10.7.5.2) and build a targeted deal pipeline.
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