Item 2. Properties
Item
2. Properties.
Facilities
Our
principal executive offices are located in New York City, where we occupy approximately 6,000 square feet under a lease that
expires in 2026. We use this facility for administration, sales and marketing, and general corporate activities. In addition to
our headquarters, to support our local operations, as of December 31, 2021, we owned or leased 26 office locations elsewhere in
the United States (seven in New York, three in California four in Texas, two each in Colorado, Pennsylvania, New Jersey
and Tennessee, and one each in Alabama, New Jersey, Delaware and Wisconsin). These local facilities are used principally
for ambulance basing, garaging and maintenance, as well as for administrative activities and general oversight. Outside of the
United States, we currently lease three facilities in England, in Chester, Derby and Rotherham. These facilities are used
for administrative functions and ambulance basing. Our leases for our local facilities expire at various dates through 2026. We
believe our facilities are adequate to meet our current and projected needs in the immediate future, and suitable space is readily
available if needed. We intend to procure additional, similar facilities as we expand geographically.
43
Vehicle
Fleet
As
of December 31, 2021, we operated 482 vehicles, including 294 ambulances, 85 wheelchair vans and 103 basic transportation
or support vehicles. Approximately 47% of our fleet is leased and 53% is owned. We replace ambulances based upon age and usage,
generally every eight to ten years. The average age of our existing active ambulance fleet is approximately four years.
We generally prefer to lease vehicles, but we have purchased vehicles in the past when deemed appropriate. Most of our owned vehicles
were acquired in connection with business acquisitions.
We
use a combination of commercial and in-house maintenance services to maintain our fleet. In those geographies where quality external
commercial maintenance services are able to meet our quality standards, we will utilize those commercial maintenance services.
We continue to explore ways to decrease our overall maintenance expenditures for vehicles, including major refurbishing and overhaul
of our vehicles to extend their useful life.
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