QUINCY, Mass.--(BUSINESS WIRE)--Fallon Ambulance Service, Massachusetts' oldest independently-owned ambulance service, is joining the Transformative Healthcare family of companies through a major equity investment by Transformative. The transaction accelerates Transformative's strategic mission to deploy innovation and data analytics in medical transportation to improve healthcare delivery and patient outcomes while reducing costs.
Transformative is also the parent company of LifeLine Ambulance Service, operating from 12 locations across New Hampshire and Eastern Massachusetts, and Stewart's Ambulance Service, which has served New Hampshire's Lakes Region for 35 years.
With its investment in Fallon, Transformative has become the largest ambulance service provider in the Massachusetts-New Hampshire market, measured by patients served. Transformative is now the majority owner of Fallon, with the Fallon family retaining a substantial passive ownership position.
Transformative's mission is to partner with healthcare institutions to innovate how both patients and data move through our healthcare delivery system, so that ambulance services companies can be powerful agents of change, improving patient experience and health outcomes while reducing the overall cost of healthcare.
Financial terms of the transaction are not being disclosed. The transaction has received approval from the Massachusetts Office of Emergency Medical Services.
Along with LifeLine and Stewart's, under Transformative ownership, Fallon will remain committed to achieving industry-leading standards of service.
As part of the Transformative family, Fallon will continue its devoted corporate philanthropy efforts, including Fallon's support of community CPR classes and volunteer and financial support for organizations such as Best Buddies International, Cradles to Crayons, Special Olympics, Pan-Mass Challenge, and the Norfolk County Sheriff's Department's "Are You Okay?" program through which deputies check daily on homebound and frail elders and shut-ins.
Headquartered in Wellesley, Massachusetts, Transformative Healthcare www.transformativehc.com is committed to delivering cost-efficient, high-quality patient outcomes by innovating how both patients and data move through the healthcare system. Transformative creates customized partnerships with healthcare providers that combine innovative patient logistics services and intelligent data analytics into programs that improve patient experiences and outcomes while reducing the overall cost of healthcare. Privately held, Transformative is majority-owned by a group of Greater Boston families.