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M&A Deal Summary

ModivCare Acquires Providence Community Services

On July 21, 2004, ModivCare acquired healthcare services company Providence Community Services

Acquisition Highlights
  • This is ModivCare’s 1st transaction in the Healthcare Services sector.
  • This is ModivCare’s 1st transaction in the United States.
  • This is ModivCare’s 1st transaction in California.
Investment Fate
  • Providence Community Services was divested to a consortium of strategic buyers in 2015.

M&A Deal Summary
Date 2004-07-21
Target Providence Community Services
Sector Healthcare Services
Buyer(s) ModivCare
Deal Type Add-on Acquisition

Target

Providence Community Services

Cerritos, California, United States
Providence Community Services LLC is a provider of healthcare services.

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Buyer(S) 1

Buyer

ModivCare

Denver, Colorado, United States
Category Company
Founded 1996
Sector Healthcare Services
Employees21,200
Revenue 2.8B USD (2023)
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 1 of 7
Sector (Healthcare Services) 1 of 4
Type (Add-on Acquisition) 1 of 5
State (California) 1 of 1
Country (United States) 1 of 7
Year (2004) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-07 LogistiCare Solutions

Atlanta, Georgia, United States

LogistiCare (Atlanta, GA) is a leader in the non-emergency medical transportation (NEMT) service sector. The company provides transportation services to governmental agencies and other human services organizations that are typically under cost pressures due to the increasing costs of healthcare and declining budgets. State Medicaid programs are required by federal regulation to provide recipients with access to and from medical encounters; however, states are often poorly equipped to efficiently and economically self perform and manage for this mission-critical transportation requirement.

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