This past Wednesday TransCare, controlled by Lynn Tilton‘s Patriarch Partners, declared Chapter 7 bankruptcy but not before spinning off ambulance operations in Hudson Valley New York and Pittsburgh Pennsylvania along with their New York City Para-Transit operation into two different companies labelled as Transcendence Transit and Transcendence Transit II.
Friday night, after the New York City MTA supposedly ended their contract with the new spin-off (Transcendence Transit II), all three surviving operations were ordered to cease and desist operations immediately and were shuttered.
TransCare Corporate Management representative Glen Youngblood (TransCare Director of Performance Excellence) had highlighted the preservation of 700 jobs through the spin offs in company communications announcing the New York City, Westchester County, and Maryland operation liquidation. It was a claim Tilton herself reiterated on Twitter Thursday.
Job loss is estimated at approximately 1,900 jobs.
In addition to no longer being employed, a number of now ex-employees have reported issues regarding getting their paychecks for labor performed last week. This is the third time that TransCare will have failed to pay their staff on time within a year’s time frame.
Previously I had estimated the lifespan of Transcendence Transit and Transcendence Transit II to be approximately 3 years due to the ineptitude of TransCare Corporate Management moving to oversee those two operations. I was wrong. The two new companies lasted only approximately 36 hours.
- Rapid Response: EMS providers bear burden when leadership fails – EMS1.com
- TransCare Ambulance Co. Shuts Down Entirely, Despite Tilton’s Promises – Maggie Shnayerson
- Ambulance company controlled by “Wonder Woman of Wall Street” declares bankruptcy – Crain’s New York
FULL DISCLOSURE: I resigned from TransCare in October of 2015