Vermont Business Magazine Garnet Transport Medicine, LLC d/b/a Garnet Health, announced today that it will shut down its EMS and clinical operations effective January 31st, 2023.
A statement from Garnet's President and CEO, Ryan Ferris, follows:
"Garnet is financially and operationally in a difficult position. While demand for healthcare services has never been higher, we face many challenges preventing the company from moving forward. Low reimbursements from insurance companies for EMS services, the high cost of operating a professional medical practice, and the lingering effects of two-plus years of COVID-19 have compounded our situation. The leadership team and I have worked tirelessly over the last few months to secure a business that aligns with our mission and values; unfortunately, that effort has yet to be successful. Given the wind-down of COVID-19 services subsidized by the state and federal government, Garnet is left without sufficient revenues to sustain operations and must make decisions to prevent a catastrophic collapse.
Garnet ambulance service was founded in 2019. Courtesy photo.
"With a profound sense of regret and sadness, I must make the painful decision to shut down all EMS and clinical operations at the end of January. This decision is not one I, or the leadership team, made lightly or without emotion. As I explained in my email to all Staff last week, we have left no stone unturned in our attempt to secure business to support continued operations. We have also applied for state and federal COVID-19 stabilization grants, emergency public health funding, a sale of the company, and opportunities with community partners. These efforts have yet to be successful.
"Effective January 31st, 2023, Garnet will suspend all EMS, clinical, and business operations, resulting in a complete layoff of our clinical and administrative workforce.
"We have notified the required state agencies that we will proceed with an orderly layoff of all Staff effective January 31st, 2023, following the closure of our VDH Vaccine Sites."
Garnet plans to reevaluate its position once the layoff process is complete. We hope to relaunch with a more limited offering of medical services in the future. Until then, the company will work with affected employees to help them find alternative employment and do everything possible to ensure a smooth wind-down of the company operations.
Garnet was founded in 2019 and is a multidisciplinary healthcare organization specializing in interfacility ambulance transport, telemedicine, and mobile healthcare delivery.
ESSEX JUNCTION, Vermont, January 17th, 2023 -- Garnet
