Earlier this summer, MTM revealed its planned acquisition of Veyo, the non-emergency medical transportation (NEMT) industry's third largest broker. Today, the organization announced the acquisition has been finalized. The deal closed on Aug. 1, with integration activities set to begin immediately.
Founded in 2015, Veyo leverages data, technology, and their Independent Driver Provider (IDP) model to improve access to care. With combined revenue of approximately $1 billion, MTM and Veyo will jointly serve 15.4 million members in 31 states and the District of Columbia, providing nearly 21 million annual trips.
"With the fusion of the MTM and Veyo organizations, we are excited to deliver more benefits to our NEMT clients and members than ever," said MTM's President and CEO Alaina Macia. "The healthcare industry is innovating at a rapid pace, and the NEMT market is no different. Combining MTM's customer service focus and Veyo's innovative processes and tools, we're primed to deliver an unmatched transportation experience to health plans and their members nationwide."
The organizations plan to seamlessly align their operations to ensure minimal impact on day-to-day services. Veyo clients and their members should expect little to no change in their NEMT program during the initial transition.
"Our foremost goal is to ensure the integration of Veyo under the MTM umbrella is transparent to our NEMT stakeholders, with improvements and operational alignment in the near future," said Veyo CEO and co-founder Josh Komenda, who will stay on board with MTM in a leadership role. "Veyo and MTM are both companies that were built on cultures of innovation and excellence, and that commitment will be unchanged. We look forward to integrating with MTM to unify our NEMT models, enhance access to healthcare, and improve healthcare outcomes for Medicaid and Medicare members nationwide."
MTM is the nation's most trusted and qualified partner for healthcare, transportation, and logistics solutions. Since 1995, MTM has managed NEMT for state and county governments, managed care organizations, health systems, and other programs involving transportation for the disabled, underserved, and elderly. Leveraging technology to streamline processes and improve the user experience for all stakeholders, MTM's wide spectrum of services help clients improve health outcomes, promote independence, reduce costs, and increase satisfaction. In 2009, MTM's leadership established MTM Transit, an affiliate that provides direct paratransit and fixed route transit services. MTM and MTM Transit are privately held, woman-owned business enterprises.
Veyo, headquartered in San Diego, California, was established in 2015 as a full-service transportation brokerage designed specifically for healthcare. Veyo has reinvented the patient transportation model by integrating consumer technology with rideshare fleets to decrease costs and increase efficiency. Veyo is delivering dramatically higher levels of reliability, quality, and transparency to customers, partners, and members.
Press contact: Jessica Williams, 618.772.2349
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Original Source: MTM Finalizes Acquisition of Non-Emergency Medical Transportation Broker Veyo