Stewart's Ambulance Service Announces End-of-Year Timeline For Transition to Employee Ownership

MEREDITH, N.H., Aug. 29, 2022 /PRNewswire/ -- Stewart's Ambulance Service, provider of emergency medical services and medical transportation in New Hampshire and Maine, is hiring for growth and working to become employee-owned by the end of year, under an Employee Stock Ownership Plan (ESOP) structure unique among EMS companies in New England.

ESOPs are tax-exempt trusts that allow employees to acquire beneficial ownership in the places they work without investing their own funds. All full-time Stewart's employees will be eligible to participate, with stakes that increase with tenure and seniority. As Stewart's continues hiring for significant growth opportunities, new full-time employees also may participate in the plan, adding to a range of benefits that includes scholarship funds, referral bonuses, and innovative programs that pay candidates while they train to become EMTs.

"EMS has been a critical and unsung healthcare hero of the past two years," said Justin Van Etten, executive chairman of Stewart's Ambulance Service. "Stewart's move to employee ownership recognizes and values the sacrifices and professional excellence of our employees with both equity and voice. It's never been a better time to work at Stewart's."

Employee-owned companies consistently have both higher employee engagement and greater job security. Employee ownership also helps lower turnover, ensure continuity of high-quality service, and generate jobs and business value which stays local. Municipal partners, institutional partners and the general public all benefit from having a stronger EMS and medical transportation partner in the community.

"EMTs are a tight-knit group, but at the end of the day, we're usually working for someone else's family," said Dave Ledoux, longtime EMT and Stewart's Seacoast Operations Manager.  "I'm ready to start working for my own family, and I look forward to being part of a company where I get a say in how we work and how we grow."

"Stewart's has been setting the standard in high-quality EMS service for more than 41 years," said Stacy Meier, executive director of Stewart's. "We are proud to be the first EMS company in New England that is giving its employee-owners a better way to make EMS a lifetime career."

Transformative Healthcare, which currently operates Stewart's under its medical transportation arm, will continue to be an investor in the company and provide innovative healthcare logistics, technology, and strategic support.