Matrix Medical Network (“Matrix”), based in Phoenix, AZ, is the leading provider of prospective medical assessment services to managed care plans and risk-bearing provider groups. Founded in 2000, the Company is a pioneer in the field of home and skilled nursing facility-based assessments that deliver substantial value for revenue management, care optimization, and compliance. The Company delivers its services through a fully credentialed and captive provider network utilizing physicians, nurse practitioners, and clinical coders.
Matrix’s management team and shareholders engaged TripleTree to assess strategic alternatives and seek a liquidity event for its early investors. TripleTree and Matrix recognized that the Company was in a stage of rapid growth and actively expanding its infrastructure, which made it extremely important to select a partner that would help the Company execute on its strategic plan. The Company elected to focus on a select group of buyers which had a deep understanding of the business and would be able to execute quickly on a transaction with minimal business distractions.
Matrix elected to partner with Welsh, Carson, Anderson & Stowe (“Welsh Carson”) due its successful track-record as an investor in healthcare services and managed care along with its deep operating partner expertise and relationships.The transaction was a success for both Matrix’s exiting shareholders and the management team as they prepare the Company for its next phase of growth with their new partner Welsh Carson.