WellPortation LLC is a recently organized investment company in the Non-Emergency Transportation market. The NEMT industry generates over $15 Billion annually, is severely fragmented and dominated by smaller owner operators. The combination presents an opportunity for unprecedented growth with an aging U.S. population and the constant increasing demand for access to quality healthcare. As we identify and acquire targets in this market, we will instill best industry practices and streamline inefficiencies in an effort to provide the highest quality of service to the largest group of people who are in a compromised health situation.

We have identified a Target for acquisition. Our target was founded over 10 years ago and has grown organically from a team of 2 to an entire fleet of 11 custom-fitted vehicles operated by trained and certified care providers. Internally, they have a staff of 3 dedicated personnel who are responsible for managing the day-to-day operations. Target specializes in wheelchair transportation and is one of the most reliable mobility assistance providers in New Jersey and the surrounding areas. Over the years, they have invested in providing a safe, affordable, punctual, and compassionate service to those with disabilities and special needs.

We identified this target 2022 when the business was still rebounding from the pandemic. The revenue has been trending up since then. As you can see on the attached, financial results for the trailing 12 months ended March of 2023 continued the improvement in the business vs what we saw for the calendar year###-###-#### Trailing 12-month revenue increased 25% versus calendar year 2022, and operating margins were up substantially. Contributing to the upward trend was continued organic growth in the base business, greater labor utilization, increased payor rates and additional contracted routes. After lengthy negotiation and internal due diligence, we have come to terms with the seller.

Proposed Recapitalization Transaction We have agreed on an enterprise value of 1.3x TTM EBITDA valuation. The seller has concurred with this valuation due to customer concentration and the age of the fleet. New management will focus on growing the business by mitigating customer concentration and improving & expanding the vehicle fleet, along with instilling best industry standards and streamlining operational inefficiencies.
We plan to purchase 80% of the equity in this Target, seller has agreed to remain a 20% owner in the business. We are looking for senior secured lenders who have an interest in underwriting this transaction. This recapitalization of the current organization will utilize the seller’s equity as our equity for financing. This is not a large transaction, but it is a solid deal that stands on its own and sets the stage for further growth and other business opportunities for Wellportation.

We need to gain a sense of your appetite for this transaction. We want to know if we will be able to count on you to move quickly once the LOI is signed and reviewed by our Advisory Board, our Legal representation Fox & Rothschild and our Accountants Warren Avert.

If interested in possibly financing this transaction please reach out to me on your preferred channel (email or text) below to schedule a time to speak. --@----.com 9One4-64Nine-62Forty