Providence Service Corp. is buying, CCHN Group Holdings Inc. for $400 million.

CCHN, which does business as Matrix Medical Network, provides health risk assessments through a network of nurse practitioners for Medicare Advantage health plans and other providers. With services across 33 states, Matrix generated $187 million in revenue for the 12 months ended June 30.

Providence provides and manages government-sponsored human services, employment services and non-emergency transportation services. The Tucson, Arizona, company's offerings include transportation to state Medicaid programs, substance abuse treatment services, foster care services and welfare services.

The acquisition allows Providence to add a new vertical that complements its other business lines, the company says. Matrix's team, including 600 nurse practitioners, will join Providence. The buyer says Matrix's system help clinical outcomes and drive cost savings that can serve a market with a rapid growth rate due to an expanding senior population. For more on the health care sector, see 5 Technologies Drive Health Care M&A

The purchase price works out to $360 million in cash and 946,722 shares of Providence common stock. The deal is expected to close in the fourth quarter.

Bank of America Merrill Lynch, RBC Capital Markets and SunTrust Robinson Humphrey provided financing commitments to fund the cash portion of the deal. RBC served as Providence's financial adviser, while Paul Hastings LLP provided legal advice in connection to the financing. Skadden Arps Slate Meagher & Flom also advised on the financing. Triple Tree LLC provided financial advice to Matrix, while Ropes & Gray provided legal advice. 

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