The Denver-based ModivCare Inc., earlier known as The Providence Service Corporation, is now looking to claim the vast but highly fragmented U.S. supportive care space. To do so, it's in the process of becoming a one-stop-shop for all its payer partners, keeping home-based care as the core of its evolving business model, President and CEO Daniel Greenleaf said.
ModivCare entered the personal care industry after acquiring Simplura Health Group, home health and non-medical home care provider with roughly 14,000 caregivers in seven states. The transaction placed a whopping $575 million enterprise value, and the company was formerly owned by One Equity Partners.
ModivCare is combining its most advanced personal care with its large non-emergency medical transportation (NEMT) and growing nutritional services business lines. With this, the company is aiming to disrupt how, when, and where vulnerable populations have cared. "We're going to look at opportunities to move into remote monitoring. There is no company that has claimed the supportive care space. I think we're in a very unique position to do some pretty extraordinary things on that front," said Daniel Greenleaf.