M&A Deal Summary

Frazier Healthcare Partners Acquires Matrix Medical Network

On October 25, 2016, growth capital firm Frazier Healthcare Partners acquired healthcare services company Matrix Medical Network from ModivCare

Acquisition Highlights
  • This is Frazier Healthcare Partners’ 9th transaction in the Healthcare Services sector.
  • This is Frazier Healthcare Partners’ 20th transaction in the United States.
  • This is Frazier Healthcare Partners’ 2nd transaction in Arizona.

M&A Deal Summary

Date 2016-10-25
Target Matrix Medical Network
Sector Healthcare Services
Buyer(s) Frazier Healthcare Partners
Sellers(s) ModivCare
Deal Type Divestiture

Target

Matrix Medical Network

Scottsdale, Arizona, United States
website
Matrix Medical Network is a provider of home-based medical assessments and has expanded its portfolio of services to include screening, chronic care management, physician engagement and analytics. Matrix Medical Network was founded in 2000 and is based in Scottsdale, Arizona.

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Buyer(S) 1

DESCRIPTION

Frazier Healthcare Partners is a private equity and venture capital firm specializing in Growth buyout investment specifically targets businesses that deal Healthcare, Life Sciences, Pharmaceutical services, medical products, and related sectors. Frazier Healthcare Partners was formed in 1991 and is based in Seattle, Washington with an additional office in Palo Alto, California; Boston, Massachusetts; and Menlo Park, California.


DEAL STATS #
Overall 21 of 45
Sector (Healthcare Services) 9 of 16
Type (Divestiture) 3 of 4
State (Arizona) 2 of 3
Country (United States) 20 of 44
Year (2016) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-20 Alteon Health

Germantown, Maryland, United States

Alteon Health is a provider of outsourced healthcare practice management services to emergency departments, hospitalist programs, and hospital-based urgent care centers. The company supports the highest quality healthcare delivery through patient-focused care, physician-led innovation, data-driven practices, and best-in-class healthcare partnerships. Alteon Health was founded in 1971 and is based in Germantown, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-06 United Derm Partners

Brentwood, Tennessee, United States

United Derm Partners is a physician practice management company focused solely on partnerships with dermatology clinics. United Derm Partners' integrated platform offers a centralized burden-reducing, cost-saving solution to all the business needs of a busy medical practice. From operational support to compliance assistance to marketing strategies and more, United Derm delivers an array of services that make life and work easier for our physician partners while ensuring their professional autonomy. United Derm Partners was founed in 2016 and is based in Brentwood, Tennessee.

Buy -

Seller(S) 1

SELLER

ModivCare

Denver, Colorado, United States

website


Category Company
Founded 1996
Sector Healthcare Services
Employees20,000
Revenue 2.5B USD (2022)
DESCRIPTION
Providence Service's corporate headquarters in Tucson, Arizona.
Providence Service's corporate headquarters in Tucson, Arizona.

ModivCare provides and manages government sponsored social services and non-emergency transportation services. Providence's counselors, social workers and behavioral health professionals work clients who are eligible for government assistance due to income level, emotional/educational disabilities or court order. The state and local government agencies that fund the social services Providence provides are required by law to provide counseling, case management, foster care and other support services to eligible individuals and families. Providence also manages and arranges for client transport to health care related facilities and services for state or regional Medicaid agencies, health maintenance organizations, or HMOs, and commercial insurers. ModivCare was formed in 1996 and is based in Denver, Colorado.


DEAL STATS #
Overall 3 of 3
Sector (Healthcare Services) 3 of 3
Type (Divestiture) 3 of 3
State (Arizona) 1 of 1
Country (United States) 3 of 3
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-03 Providence Human Services

Fredericksburg, Vermont, United States

Providence Human Services LLC is a provider of accessible, high-quality, outcome-based behavioral/mental health and social services predominately through Medicaid programs and serves as an alternative to traditional higher-cost institutional care.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-29 Simplura Health Group

Valley Stream, New York, United States

Simplura Health Group is a provider of home care services to patients in New York, New Jersey, and Florida. Simplura Health provides a wide range of services from basic services, such as providing a homemaker to assist with meal preparation and light housekeeping for a few hours a day or a home health aide to provide assistance with activities of daily living, to complex home nursing services provided by around-the-clock Registered Nurses. Simplura Health Group was founded in 1955 and is based in Valley Stream, New York.

Buy $575M