ProTransport-1 Partners with Southern California PRN Ambulance to Meet Growing Demand
Cotati, Calif. – ProTransport-1 Ambulance has reached an agreement to merge with Southern California’s premiere ambulance service, PRN. While PRN is already one of the largest private ambulance services in Los Angeles with many prominent hospital clients, its merger with ProTransport-1 will bring ambulance industry expertise, as well as capital, to the company to help fuel its growth.
PRN Ambulance will continue as the trade name and licensed ambulance provider in Southern California. PRN owner and President Avo Avetisiyan will stay on as President of PRN and become a member of the ProTransport-1 leadership group.
PRN and its “sister company” ProTransport-1 focus on providing ambulance services to patients transferred between hospitals. Together they will operate 225 ambulances in California. ProTransport-1, with operations throughout the Bay Area, Sacramento and the Central Valley, was recently honored as one of Inc. Magazine’s 5,000 Fastest Growing Companies in America for the fourth consecutive year.
New Heritage Capital, a Boston- based private equity group, partnered with and invested in ProTransport-1 in 2012. Heritage has made a name for itself by partnering with entrepreneurs, many of them in the healthcare field, to take their businesses to the next level.
The transaction will be completed following regulatory approvals.
About PRN Ambulance
Established in October 2000, PRN Ambulance has quickly grown to become one of the leading providers of essential medical transportation in the Los Angeles area. Started with just three ambulances by, the company currently operates nearly 60 emergency response vehicles with well over 200 employees. Since its inception, PRN Ambulance’s mission has been to provide prompt, professional and quality service. PRN Ambulance serves all areas of Los Angeles and Orange counties, including the City of Los Angeles and the City of Long Beach.
About ProTransport-1
ProTransport-1 transformed the medical transportation industry in 2000 by becoming patient advocates. Today, ProTransport-1 continues to lead the ambulance industry with innovative and cost-efficient services by simplifying the complexity of covered services and medical necessity while ensuring accommodations for a patient’s unique needs. ProTransport-1 provides professional, courteous, on time ambulance and medical transportation for emergent or specialty care patients.
About New Heritage
For nearly twenty-five years, New Heritage Capital has focused on partnering with growing family-owned or founder-controlled businesses through a unique structure called the Private IPO®. In a typical Private IPO® transaction, Heritage takes a minority equity position in the company via a substantial investment in common and preferred stock. Its approach provides shareholders with the desired amount of liquidity, resolves transition issues and allows shareholders to maintain control and accelerate the growth of their company.
