M&A Deal Summary

ModivCare Acquires Simplura Health Group

On September 29, 2020, ModivCare acquired consumer services company Simplura Health Group from One Equity Partners for 575M USD

Acquisition Highlights
  • This is ModivCare’s 1st transaction in the Consumer Services sector.
  • This is ModivCare’s largest (disclosed) transaction.
  • This is ModivCare’s 4th transaction in the United States.
  • This is ModivCare’s 1st transaction in New York.

M&A Deal Summary
Date 2020-09-29
Target Simplura Health Group
Sector Consumer Services
Buyer(s) ModivCare
Sellers(s) One Equity Partners
Deal Type Add-on Acquisition
Deal Value 575M USD
Advisor(s) Guggenheim Securities
Deutsche Bank Corporate & Investment Banking (Financial)
Kirkland & Ellis (Legal)

Target

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.

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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 4 of 7
Sector (Consumer Services) 1 of 1
Type (Add-on Acquisition) 4 of 5
State (New York) 1 of 1
Country (United States) 4 of 7
Year (2020) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-25 Matrix Medical Network

Scottsdale, Arizona, United States

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.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-06 WellRyde

Atlanta, Georgia, United States

WellRyde is a technology provider of Advanced Transportation Management Systems (ATMS) software, enabling optimized routing, automated trip assignments and billing, and real-time network monitoring. WellRyde was founded in 2011 and is based in Atlanta, Georgia.

Buy -

Seller(S) 1

SELLER

One Equity Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2001
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

One Equity Partners (OEP) is a private equity firm that targets buyout and growth capital investments in North America, Europe, and Asia. OEP prefers to be the lead investor and typically commits $30 to $150 million per transaction. Sectors of interest include industrial products/services, consumer, retail, chemicals, media, communications, and healthcare. One Equity Partners was formed in 2001 and spun out of JP Morgan Chase in 2015. One Equity Partners is based in New York, New York.

DEAL STATS #
Overall 43 of 63
Sector (Consumer Services) 1 of 1
Type (Add-on Acquisition) 27 of 36
State (New York) 3 of 6
Country (United States) 29 of 42
Year (2020) 2 of 3
Size (of disclosed) 16 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-11 Gordian Medical

Irvine, California, United States

Gordian Medical is a provider of advanced wound care, ostomy, urology, and tracheostomy supplies and services. AMT provides both critical care supplies and clinical support services to skilled nursing facilities and other post-acute care settings across the United States. The Company assists healthcare providers in managing the treatment of more than 250,000 wounds annually. Gordian Medical was founded in 1994 and is based in Irvine, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-29 Allegro MicroSystems

Manchester, New Hampshire, United States

Allegro MicroSystems is a developer of advanced semiconductor technology and application-specific algorithms. Allegro MicroSystems is based in Manchester, New Hampshire.

Sell -
Mergr

Product

Company

Legal