Matrix is a leading care optimization and management platform providing prospective health risk assessments for health plans and risk bearing providers. The Company pioneered the field of home-based assessments that deliver substantial value to patients, payers, and providers in the areas of care optimization, payment integrity, quality management, and member retention. The Company delivers its services to 30+ blue chip payer customers through a national network of over 800 fully credentialed community-based nurse practitioners (“NPs”) across 33 states.
The process included a select group of strategic acquirers with an appreciation for the need for care management and risk adjustment, and strong interest from a select group of buyers heightened competitive tension. The extensibility of Matrix’s platform beyond health risk assessments was emphasized by highlighting the Company’s emerging solutions (e.g. chronic care, in-home screening) and its compelling value proposition that will fuel Matrix’s continued growth and solidify its market leadership position. Buyer concerns about the regulatory risk that surrounds the health assessment market were demystified by highlighting Matrix’s market leading care management capabilities that drive improved outcomes by closing gaps in care.
Providence Service Corporation, a leading provider of government sponsored human services and non-emergency transportation services, emerged as the ideal partner for Matrix. Providence appreciated and saw strong synergy in Matrix’s core business and its emerging solutions that will facilitate care management more broadly across high acuity populations.