Providence Service Corp., a major medical transportation company, is moving into the home health sector with a planned, $575 million cash acquisition of Simplura Health Group.
Simplura, owned by One Equity Partners, operates a large network of home health and personal care agencies across seven states. The New York-based company provides more than 20 million hours of non-medical personal care annually, mostly to Medicaid patients including seniors and disabled adults. The company has approximately 14,000 caregivers and is a market leader in New York, Pennsylvania, Massachusetts, Florida, New Jersey, West Virginia and Connecticut.
“With our agreement to acquire Simplura Health Group, we are fulfilling one of the key pillars of our operational strategy: transformational growth,” Daniel E. Greenleaf, president and CEO of Providence and its LogistiCare subsidiary, said in a press release. “Simplura brings us a complementary higher-margin business in non-medical personal care — a large, rapidly growing sector of healthcare that dovetails well with non-emergency medical transportation. This combination unifies two social-determinants-of-health pioneers that share a common mission, that provide value-based care and solutions to similar vulnerable patient populations, and that partner with many of the same payer groups.”
This article originally appeared on McKnight's Senior Living
