Air Ems, Inc.
How we got $14.9M
Based on its 13 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Signs of a sale Unlikely to sell soon
- Headcount down 30% since 2022 (retirement plan filings)
From public records and the company's website, not a statement that it's for sale.
What they do
Air EMS is a Tulsa, OK company that provides and coordinates air ambulance transportation, patient care, and medical support services for commercial and government clients worldwide.
From the company's website. Industry: Other Nondepository Credit Intermediation.
Customers & suppliers
Customers
- Department of Veterans Affairs · federal contracts $4.3M
- Department of the Army · federal contracts $257K
- U.S. Marshals Service · federal contracts $164K
- Veterans Affairs · named on its website
- Department of Defense · named on its website
- Department of Justice · named on its website
- U.S. Marshals Service · named on its website
Estimated value over time
▲ 27% since 2020Today's estimate scaled by the headcount reported each year and that year's prices. A trend, not a record of past sale values.
Employees over time
▲ 77% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 13 | $3.8M |
| 2022 | Form 5500 | 33 | $9.6M |
| 2023 | Form 5500 | 17 | $4.9M |
| 2024 | Form 5500 | 18 | $5.2M |
| 2025 | Form 5500 | 23 | $6.7M |
Participants are employees in the company's retirement plan at year end, from its Form 5500 filing with the Department of Labor. They usually run a little under total headcount (part-timers and new hires may not be eligible). Revenue and EBITDA apply this industry's revenue per employee and margin to each year's count.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| AIR EMS, INC. this business | $6.8M | — |
| DETROIT FINANCIAL SERVICES, INC. Tulsa · 31 employees | $10.5M | 4.4 mi |
| PREFERRED MANAGEMENT GROUP, INC. Tulsa · 3 employees | $2.2M | 4.6 mi |
| SHARP MORTGAGE CO. ALP Tulsa · 5 employees | $3.1M | 4.8 mi |
| GREEN COUNTRY ARMS & PAWN, INC. Tulsa · 4 employees | $2.4M | 5.2 mi |
| MIDTOWN MORTGAGE LLC Tulsa · 3 employees | $1.5M | 5.2 mi |
| KENT FINANCE CO. Tulsa · 4 employees | $1.2M | 5.3 mi |
The full calculation
| Employees reported to the SBA | 13 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $8.2M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $4.3M |
| Estimate: the two combined (geometric mean) | $6.8M |
| EBITDA margin (industry, adjusted for size) | 40% |
| EBITDA = revenue × margin | $2.7M |
Figures are shown toward the upper part of their range rather than at its middle.
Brought up to date assuming revenue has grown 8% a year since 2020, when the PPP figures were reported; included above.
| Estimated value = EBITDA × typical sale multiple | $14.9M |
| Multiple for this size and industry | 5.5× |
| Value range | $7.9M – $20.4M |
| Revenue range | $4.5M – $7.8M |
| EBITDA range | $1.8M – $3.1M |
| Industry (NAICS) | Other Nondepository Credit Intermediation (522298) |
EBITDA margin: from IRS tax returns of S corporations in this industry (2019–2022), adjusted for company size: smaller companies typically run higher margins. EBITDA here is after owners' salaries.
Benchmarks: US Economic Census 2022, OK. PPP loans were sized on 2019–2020 payroll, so figures reflect that period. These are statistical estimates, not reported financials. Full methodology
People & advisors
Leadership
- DCDr. Charles FarmerMedical Director · Company website · source
- DDDr. David MarksMedical Director · Company website · source
- BHBrian HowellDirector of Clinical Services · Company website · source
- JGJustin GravesDirector of Safety · Company website · source
- EBEileen BlackstoneBase Lead · Company website · source
- CBChristi BrewerCommunication Supervisor · Company website · source
- DDDale DallmannDirector of Education · Company website · source
- JGJeremy GeorgeDirector of Government Operations · Company website · source
Advisors
- BankingFirst United Bank and Trust CompanyPPP / SBA lender
From the company's own website and public filings (DOL Form 5500, IRS Form 990, SBA). Roles are as stated there and may be out of date.
Banking relationships
| First United Bank and Trust Company PPP 2020 | All 2,229 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/4/2020 | first | $115K | 13 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Air Ems, Inc.
Air Ems, Inc. is an other nondepository credit intermediation company in Tulsa, Oklahoma. It is owned by Angela Hall (President / Program Director). Its estimated annual revenue is about $6.8M, with roughly $2.7M of EBITDA. It has about 23 employees. Its estimated business value is $14.9M (likely range $7.9M–$20.4M).
Common questions
- Who owns Air Ems, Inc.?
- Air Ems, Inc. is owned by Angela Hall (President / Program Director), according to public sources such as the company's website or filings.
- How much revenue does Air Ems, Inc. make?
- SeeBITDA estimates Air Ems, Inc.'s annual revenue at about $6.8M (likely between $4.5M and $7.8M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Air Ems, Inc. worth?
- About $14.9M, roughly 5.5× its estimated EBITDA of $2.7M, typical for a other nondepository credit intermediation company its size. Likely range: $7.9M–$20.4M.
- How many employees does Air Ems, Inc. have?
- About 23, from its 2025 retirement-plan filing.