In this episode the hosts review an Alabama non-emergency medical transportation business priced around $1.0–1.4M and unanimously reject the deal due to unstable earnings, questionable financial reporting, and heavy dependence on government contracts.

Business Listing – https://www.dealonomy.com/s/non-emergency-medical-van-transportation

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This episode analyzes a non-emergency medical transportation (NEMT) company in Alabama generating roughly $3M in revenue and about $376K in seller’s discretionary earnings, with an asking price between $1.0M and $1.4M. The business operates a fleet of specialized vehicles transporting patients to medical appointments under government and institutional contracts, including federal agreements that drive a significant portion of revenue.

Key Highlights Section:
- $3M revenue, ~$376K SDE, asking $1.0M–$1.4M (~3–4x multiple)
- Recent financial volatility, including losses in prior year
- Heavy reliance on government or Medicaid-related contracts
- Asset-heavy model requiring fleet utilization discipline
- Unanimous thumbs-down from hosts due to risk and data quality concerns

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