ModivCare - M&A Summary and Business Overview

Healthcare ServicesCompany

ModivCare M&A Summary

ModivCare has acquired 8 companies, including 4 in the last 5 years. A total of 5 acquisitions came from private equity firms. It has also divested 3 assets.

ModivCare’s largest acquisition to date was in 2020, when it acquired Simplura Health Group for $575M. ModivCare has acquired in 6 different US states. The Company’s most targeted sectors include healthcare services (58%) and consumer services (15%).

ModivCare Business Overview

Where is ModivCare headquartered?

ModivCare is headquartered in Denver, Colorado.

What is ModivCare’s revenue?

ModivCare disclosed revenue of 2,504M USD for 2022 and 1,997M USD for 2021.

How many employees does ModivCare have?

ModivCare has 20,000 employees.

What sector is ModivCare in?

ModivCare is a healthcare services company.

When was ModivCare founded?

ModivCare was founded in 1996.

M&A Summary

  • M&A Total Activity10
    • M&A Buy Activity7
    • M&A Sell Activity3
  • Total Sectors Invested 4
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 9
  • M&A Advisors 6

ModivCare

ModivCare Inc.

6900 Layton Avenue 12th Floor,
Denver, Colorado 80237
United States,
(303) 728-7003
www.modivcare.com

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.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.8/yr) # 3 1 2 1 - - 7
vol $620M $575M $315M $1.5B
Sell (0.0/yr) # 3 - - - - - 3
  10

Most Recent M&A

Company Date Value Type
Guardian Medical Monitoring LLC 2022-05-18 - Divestiture
Southfield, Michigan · www.guardianmedicalmonitoring.com
VRI Intermediate Holdings, LLC 2021-08-03 315M USD Add-on Acquisition
Franklin, Ohio · www.vricares.com
WellRyde 2021-05-06 - Divestiture
Atlanta, Georgia · www.wellryde.com
Simplura Health Group 2020-09-29 575M USD Add-on Acquisition
Valley Stream, New York · www.simplura.com
Matrix Medical Network, Inc. 2016-10-25 - Divestiture
Scottsdale, Arizona · www.matrixforme.com
Providence Human Services LLC 2015-09-03 - Divestiture
Fredericksburg, Vermont · www.providencehumanservices.com
Providence Community Services LLC 2015-09-03 - Divestiture
Cerritos, California
Matrix Medical Network, Inc. 2014-09-18 400M USD Add-on Acquisition
Scottsdale, Arizona · www.matrixforme.com
LogistiCare Solutions LLC 2007-12-07 220M USD Add-on Acquisition
Atlanta, Georgia · www.logisticare.com
Providence Community Services LLC 2004-07-21 - Add-on Acquisition
Cerritos, California
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Healthcare Services 4 (57%) 935M (62%) 3 (100%) -
Consumer Services 1 (14%) 575M (38%) - -
Safety/Security 1 (14%) - - -
Software 1 (14%) - - -
Total 7 $1.5B 3 -

By Geo

State/Country Buy Value Sell Value
United States 7 1.5B 3 -
  Georgia 2 220M - -
  California 1 - 1 -
  Arizona 1 400M 1 -
  Michigan 1 - - -
  Ohio 1 315M - -
  New York 1 575M - -
  Vermont - - 1 -
Total 7 $1.5B 3 -

Top M&A Advisors

Financial Deals
Moelis & Co.
 2
Deutsche Bank Corporate & Investment Banking
 1
Jefferies
 1
Legal Deals
Paul Hastings
 3
Gibson, Dunn & Crutcher
 2
Skadden, Arps, Slate, Meagher & Flom
 1

Deal Values

buy # Total
$100M to $1B 4 $1.5B
TOTAL $1.5B
Largest Simplura Health Group
$575M (2020-09-29)

M&A Connections

Deals
Acquired from
Investor(s)
57%
4 (57%)
Strategic(s)
29%
2 (29%)
Divested to
Investor(s)
33%
1 (33%)
Strategic(s)
67%
2 (67%)

Company Summary

SECTOR

Healthcare Services

Revenue

2,504   26% 2022
1,997   46% 2021
1,369   10% 2020
1,510   10% 2019
1,385   15% 2018
1,624   3% 2017
1,579   7% 2016
1,695   15% 2015
1,481   32% 2014
1,122   2% 2013
1,105   2012
(millions of USD) Show More Show Less

Employees

20,000

Established

1996

Public

NASDAQ: MODV

Former Name

The Providence Service Corp.

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