San Diego's Veyo , which bought an Uber model to health care transportation, is being acquired rival MTM [Breaking]
San Diego-based Veyo, which developed an Uber-style model to get Medicaid and Medicare members to doctor’s appointments, inked a deal to be sold to rival Medical Transportation Management of St. Louis for an undisclosed price.
Veyo said its annual revenue is about $300 million. It employs 570 workers in 10 locations across the country, including call centers in Arizona and elsewhere. Co-founded in 2015 by Chief Executive Josh Komenda as a spin-out of Arizona-based Total Transit, Veyo is a transportation broker that aimed to disrupt the non-emergency Medicaid/Medicare transportation business by bringing onboard independent contractors who use their own vehicles to drive people to doctor’s appointments.About 3.6 million people forego medical care each year because of transportation issues, according to the American Hospital Association.
Komenda will stay on with Medical Transportation Management in an undefined leadership role, the company said.
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