About this episode
Cedric Pashi co-founded MyRyde in Cincinnati, Ohio two years ago with a fixed plan to sell it in five, and private equity firms have already handed him the spec: at least 25 vehicles, $75,000 a month, and roughly 20% profit margins. MyRyde runs eight vehicles today, has never taken broker work, and books a 60% wheelchair, 40% ambulatory mix through facility and senior-housing partnerships. Pashi plans to add stretcher transport in December by absorbing a small operator that already owns one or two stretcher vans, trading relationships, oversight, compliance, and a mechanic team for a share of that revenue.
Key takeaways
- About three private equity firms gave Pashi the same floor for a sellable NEMT company: a 25-vehicle fleet minimum, $75,000 per month, and roughly 20% profit margins.
- Buyers pay for recurring revenue and exclusivity, so MyRyde pursues enterprise contracts with communities of 100-plus residents rather than one-off rides anyone with a car can cover.
- MyRyde operates eight vehicles, has never done broker work, and splits 60% wheelchair to 40% ambulatory. Private pay arrives unadvertised, purely from the company's Google rank.
- Pashi reverse-engineers the $75,000 target into roughly 15 partnerships billing $5,000 to $10,000 monthly, pressure-testing the math with a board of three executives that meets quarterly.
- Seniors prefer a live voice, so MyRyde uses a third-party 24/7 answering service, and dispatchers write route notes drivers read the night before to pre-solve tight transfers.
Chapters
- 0:00 Build to sell: the 5-year NEMT exit plan
- 0:23 Meet Cedric Pashi, co-founder of MyRyde NEMT (Cincinnati, Ohio)
- 2:48 Why they started a non-emergency medical transportation business
- 4:59 More than transportation: private pay ride packages
- 6:27 Why 5 years? Learn, earn, scale
- 8:00 Getting the buyer's blueprint from private equity
- 9:18 Why NEMT is a growing business opportunity
- 12:28 What a sellable NEMT company looks like: 25+ vehicles, $75K/month, 20% margins
- 14:59 The blueprint evolves: niching down on facility partnerships
- 15:55 How MyRyde wins facility contracts
- 17:08 8 vehicles, zero broker work: the MyRyde business mix
- 18:14 The scale plan for the next 3 years
- 20:56 Recurring revenue and exclusivity: what buyers pay for
- 22:11 Dispatching that makes the driver's job easy
- 23:50 Collaborating with competitors: the abundance mindset
- 25:32 Adding stretcher transport by buying another NEMT company
- 27:32 The Bambi origin story
