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TransCare Announces Two Significant Milestones
[July 20, 2015]

TransCare Announces Two Significant Milestones


Today, TransCare Corporation, one of the largest privately-held providers of healthcare transportation services in the United States, announced that it has executed a 5-year, $130 million extension of its New York City Transit Authority "Access-a-Ride" contract, providing paratransit services to people with limited mobility.

TransCare is also proud to announce a new amendment to its banking agreement with its lenders that will assist the company in accelerating its provision of state of the art life-saving ambulance and medical transportation services in New York City, Westchester County, the Hudson Valley, Pennsylvania, Delaware and Maryland.

The new agreement with its lenders will allow TransCare to invest in new ambulances, medical equipment and computer systems needed to meet the increasing demands of TransCare's clients in its areas of service. "The confidence shown by our lenders underscores the progress that TransCare has made in our financial turnaround and resultant profitability. This new banking agreement gives us the capacity to continue our groth plans and to reward our dedicated, hard-working employees," said TransCare CEO Glenn Leland, who joined the company in February of this year. "We are immensely grateful to our owner, Lynn Tilton, for her unyielding support in both arranging this agreement and providing the capital to fuel TransCare's growth. I also want to thank our medical partners for their belief in us as we re-invent our service model. I am especially proud of the men and women of TransCare who have been stalwart in their love of and loyalty to TransCare throughout this process," said Leland.



About TransCare

TransCare Corporation was founded in 1993, and grew through a series of acquisitions culminating in its 1999 purchase of Metropolitan Ambulance in New York City. TransCare, has become one of the largest privately-held providers of healthcare transportation services in the United States with operations in New York (including New York City, Long Island and Hudson Valley), Delaware Valley (including Philadelphia and Delaware), Baltimore and Pittsburgh. TransCare provides a full range of medical services including:


* Emergency ambulance services (911) in New York City and Hudson Valley.

* Non-Emergency and critical care ambulance services in all its markets.

* Paratransit services in New York City (Access-A-Ride program).

* Shuttle services for hospitals, nursing homes, adult day care and other health care facilities in all its markets.

* Call center services for hospitals and clinics in all its markets.

TransCare, a Lynn Tilton company, operates a fleet of over 600 ambulances, buses, vans and paratransit vehicles and employs 1,900 full and part time employees.


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