GROWTH CAPITAL ADVISORY

Providence Service Corporation and Frazier Healthcare Partners Form Strategic Partnership in Matrix Medical Network

August 2016

Company Description

Matrix Medical provides in-home assessments and comprehensive care management services to health plan members that improve health outcomes. Using an advanced technology and operations platform, Matrix providers partner with leading health plans across the country to visit with members in their homes to obtain a deeper understanding about how to best support the members’ care needs. This information is used to ensure that provider and health plan services are best aligned with the needs of the member, resulting in better overall health outcomes.

Objectives

Providence and Matrix were focused on developing a partnership that would allow the Company to accelerate its growth strategy into a diversified healthcare services company, by bringing both additional resources for identifying, evaluating and completing add-on acquisitions, as well as assistance in the expansion of Matrix’s offerings into adjacent markets and services. TripleTree was identified as the ideal advisor to help Providence and Matrix evaluate this opportunity, given TripleTree’s knowledge of the market, previous experience advising Matrix and understanding of the business.

Results

Providence and Matrix found a partner in Frazier that could utilize its robust healthcare experience and strong operating relationships to leverage Matrix’s proven operational platform as a foundation for expansion and growth. The partnership combines Frazier’s network and domain expertise in payor services with Providence’s long-term investment perspective, together providing distinct advantages for Matrix as it positions itself for further growth of its chronic care management and assessment offerings.

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