Providence Announces New Name – ModivCare
06 1월 2021 - 8:00PM
The Providence Service Corporation (“Providence” or the “Company”)
(NASDAQ: PRSC) today announced its new name – ModivCare Inc. The
Company’s wholly-owned subsidiary, LogistiCare Solutions, LLC, the
nation’s largest provider of non-emergency medical transportation
(NEMT), has been renamed ModivCare Solutions, LLC. Effective
January 7, 2021, the Company’s common stock will commence trading
on the Nasdaq under its new ticker symbol “MODV” and CUSIP 60783X
104.
“This strategic shift has allowed us to align our entire
organization, from our processes to our people, around our core
purpose — Making Connections to Care,” said Daniel Greenleaf,
President and CEO of ModivCare. “The pandemic elevated the
significance of this pivot, which is why we accelerated a process
that may take years to complete in less than 10 months.”
ModivCare seeks to dismantle the barriers of health inequities
by reshaping NEMT, personal and home care, and nutritional meal
delivery by empowering individuals to take control of their health.
Additionally, the Company is committed to reinvesting in the
communities it serves, such as its partnership with schools to
ensure that no child goes hungry and has the technology needed to
learn in a virtual setting during the pandemic.
Greenleaf added, “Our significant experience comes with a
responsibility to elevate the industry and create the healthcare
experience our vulnerable patients need and deserve. ModivCare will
not only address the barriers to health highlighted by the pandemic
but will pave the way for a seamless and differentiated patient
experience.”
The Company’s goal is to create a unique and compelling brand
identity that celebrates the best of each legacy company while
propelling the organization into the future. Modiv is Latin for
way, and reflects the Company’s desire to lead innovation and
change in terms of how people connect to care.
The new name represents the full capabilities of the combined
organization’s focus on providing technology-enabled supportive
care solutions that address the social determinants of health
(SDoH) specifically to elevate patient experience and drive
positive health outcomes. The comprehensive products, services, and
expertise of ModivCare will help payors deliver valued-based
solutions to their patients, enable greater access to care, reduce
costs, and improve outcomes.
Providence’s subsidiary, Simplura Health Group (“Simplura”), a
leading provider of personal and home care, will retain its name
for the time being as the Company considers aligning the recently
acquired Simplura brands with ModivCare.
To learn more about ModivCare, visit: www.modivcare.com.
About ModivCare
Effective today, January 6, 2021, The Providence Service
Corporation became ModivCare Inc. and LogistiCare Solutions, LLC
became ModivCare Solutions, LLC. Simplura Health Group will retain
its name and branding. Additionally, LogistiCare email addresses
have changed to the domain @modivcare.com and the Company’s home
page is now www.modivcare.com.
ModivCare Inc. (“ModivCare”) (Nasdaq: MODV) is a
technology-enabled healthcare services company, which provides a
suite of integrated supportive care solutions for public and
private payors and their patients. Our value-based solutions
address the social determinants of health (SDoH), enable greater
access to care, reduce costs, and improve outcomes. We are a
leading provider of non-emergency medical transportation (NEMT),
personal and home care, and nutritional meal delivery. ModivCare
also holds a minority equity interest in CCHN Group Holdings, Inc.
and its subsidiaries (“Matrix Medical Network”), which partners
with leading health plans and providers nationally, delivering a
broad array of assessment and care management services to
individuals that improve health outcomes and health plan financial
performance.
Contact Information: Kate Zerone, kate.zerone@modivcare.com
ModivCare (NASDAQ:MODV)
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ModivCare (NASDAQ:MODV)
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