Alaina Macia, president and CEO of Medical Transportation Management, Inc. (MTM), announced the acquisition of Veyo, a nonemergency medical transportation services (MTS) company that developed an Uber-style model to get Medicaid and Medicare patients to their doctor’s appointments. Macia expects MTM’s total annual revenue to increase to approximately $1 billion USD.
According to the LevinPro HC database, this marks the 244th Other Services transaction of 2022, as well as the fifth deal within the MTS subsector. This is an approximately 33% increase from 2021, when there were 183 Other Services transactions announced during the same period, with four MTS transactions announced.
Founded in 1995, MTM provides health care, transportation and logistics services. It manages nonemergency medical transportation for state and county governments, managed care organizations, health systems and other programs requiring transportation for the disabled, underserved and elderly. Acquiring Veyo will bring MTM to 20 million trips annually for 16 million people across 31 states and the District of Columbia.
J.P. Morgan is acting as financial advisor to MTM and Dentons US LLP is acting as its legal advisor. Wells Fargo Securities LLC is acting as financial advisor to Veyo and Greenberg Traurig, LLP is acting as its legal advisor.
