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Modivcare Inc. (NASDAQ: MODV) has acquired Guardian Medical Monitoring, LLC (GMM), a leading provider of remote patient monitoring solutions, from Guardian Alarm. This acquisition will enhance Modivcare's Remote Patient Monitoring (RPM) Segment, which currently monitors approximately 50,000 patients. Daniel E. Greenleaf, Modivcare's CEO, emphasized that this move aligns with the company's mission to improve patient care through technology. The transaction's financial terms remain undisclosed, but it is expected to strengthen customer relationships and expand Modivcare's service footprint.
Positive
Acquisition of Guardian Medical Monitoring strengthens Modivcare's Remote Patient Monitoring Segment.
GMM currently monitors around 50,000 patients, offering growth opportunities.
The acquisition allows for an expanded E3 engagement platform across a larger base.
Negative
None.
DENVER--(BUSINESS WIRE)--
Modivcare Inc. (“Modivcare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving patient outcomes, today announced the Company’s Remote Patient Monitoring (RPM) Segment has acquired Guardian Medical Monitoring, LLC (“GMM”) from its parent company, Guardian Alarm.
Guardian Medical Monitoring is a leading provider of remote patient monitoring solutions to Managed Care Organizations (MCOs) and state Medicaid payors including Personal Emergency Response Systems (PERS) and medication management. GMM’s RPM platform currently monitors approximately 50,000 aging and chronically ill patients on behalf of their respective payors.
“Remote patient monitoring is essential to Modivcare’s mission to connect patients to care through our integrated supportive care platform,” said Daniel E. Greenleaf, Modivcare’s President and Chief Executive Officer. “Our comprehensive remote patient monitoring offering allows patients to safely age in their homes with technology-enabled connectivity to care which increases patient engagement and reduces costs. We are excited to accelerate the growth of Modivcare’s RPM Segment with the acquisition of GMM, and we are excited to welcome the GMM team to Modivcare.”
Jason Anderson, President, Modivcare Home added, “Guardian Medical Monitoring is a complementary acquisition for Modivcare’s RPM Segment, strengthening our customer relationships and expanding our service footprint across key states. Additionally, this acquisition provides an opportunity to expand our E3 engagement platform across a larger base of members and payors. Modivcare’s E3 platform helps our partners reduce gaps in care and address social determinants of health by engaging, educating, and empowering members using our proprietary platform.”
The terms of the transaction were not disclosed.
About Modivcare
Modivcare Inc. (“Modivcare”) (Nasdaq: MODV) is a technology-enabled healthcare services company that provides a platform 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 care and remote patient monitoring. To learn more about Modivcare, please visit www.modivcare.com.
