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On March 8, 2021, Melanie Lagasse, Food Service Director at Valley Unified Education Service Center, led a vital initiative providing over 262,000 meals to students during the COVID-19 pandemic. Collaborating with ModivCare, the program ensured meal delivery to families in Aroostook County, utilizing school staff and local transportation providers. Meals included nutritious options, prepared by dedicated kitchen staff. The efforts received a Gold award from Let's Go! 5210 for best practices in food service. ModivCare, traditionally focused on non-emergency medical transportation, expanded its role to support community needs during challenging times.
ModivCare Solutions has partnered with Trenton Health Team and Snipes Farm and Education Center to provide free fresh produce to Trenton residents with diabetes, addressing the city's designation as a 'food desert.' The initiative aims to improve health outcomes, especially during the COVID-19 pandemic, which has heightened food insecurity. This program, funded by the Merck Foundation, complements ModivCare's contract with New Jersey Medicaid for food delivery. The partnership also supports local job sustainability within the transportation sector.
The Providence Service Corporation (Nasdaq: PRSC) announced that President Trump signed The Consolidated Appropriations Act, 2021 on December 27, 2020. This act includes a mandate for state Medicaid programs to cover non-emergency medical transportation as an essential benefit for Medicaid members. Dan Greenleaf, CEO of Providence, praised this bipartisan effort, emphasizing its importance in ensuring access to healthcare for vulnerable populations. Providence operates as the largest manager of non-emergency medical transportation programs in the U.S. through its subsidiary LogistiCare Solutions.
LogistiCare and Volunteers of America Delaware Valley have partnered to provide holiday assistance through the Adopt A Family program, supporting nearly 1,000 families in Philadelphia this season. The initiative has expanded due to increased demand amid the COVID-19 pandemic, with assistance including gifts and meals. LogistiCare has adapted its services to deliver not just medical transportation but also food and groceries. The partnership, in coordination with the City of Philadelphia’s Office of Children and Families, aims to ensure families experience joy and hope this holiday season.
The Providence Service Corporation (Nasdaq: PRSC) has announced participation in two upcoming virtual conferences. The first is the J.P. Morgan 39th Annual Healthcare Conference scheduled for January 11-14, 2021, with a group presentation on January 14 at 9:10 a.m. ET. The second event is the CJS Securities 21st Annual Investor Conference on January 13, 2021. Providence, through its subsidiary LogistiCare Solutions, LLC, manages non-emergency medical transportation and provides personal care services for Medicaid patients, enhancing health outcomes.
LogistiCare, in partnership with Care Finders Total Care and Lyft, is expanding its services in New Jersey to provide reliable transportation for home health aides during the COVID-19 pandemic. This initiative is crucial for ensuring that aides can reach their patients safely and timely using on-demand Lyft rides through LogistiCare. This collaboration signifies a shift from LogistiCare's original contract focusing on transporting Medicaid patients, now including the essential transport of caregivers. This program is expected to grow as demand for home healthcare increases amid ongoing pandemic challenges.
The Providence Service Corporation (Nasdaq: PRSC) announced that CEO Dan Greenleaf and CFO Kevin Dotts will participate in the BofA Securities 2020 Leveraged Finance Virtual Conference on November 30, 2020, at 11:15 a.m. ET. Their presentation will be available via webcast on the Company's investor relations website.
Providence is the largest manager of non-emergency medical transportation programs in the U.S., through its subsidiary LogistiCare Solutions. Additionally, its Simplura Health Group provides essential personal care services to Medicaid patients.
The Providence Service Corporation (Nasdaq: PRSC) has completed the acquisition of Simplura Health Group for approximately $575 million in cash, enhancing its position in the home health care sector across seven states. This acquisition aims to expand Providence's services in non-medical personal care for Medicaid populations, particularly seniors and disabled adults. The deal is anticipated to strengthen synergies between Providence and Simplura, although it is subject to certain financial adjustments.
Providence Service Corporation (Nasdaq: PRSC), the largest provider of non-emergency medical transportation programs in the U.S., announced upcoming virtual investor events featuring CEO Dan Greenleaf and CFO Kevin Dotts. They will present at the Furey Research Partners Hidden Gems Conference on November 18, 2020, and at the Stephens Annual Investment Conference on November 19, 2020, with the group presentation scheduled for 11:00 a.m. ET. Providence, through its subsidiary LogistiCare, manages essential transportation services, improving health outcomes and financial performance for health plans.
The Providence Service Corporation (Nasdaq: PRSC) reported Q3 2020 revenue of $320.6 million, down 18.5% from $393.4 million in Q3 2019. Income from continuing operations rose significantly to $38.9 million or $2.51 per share. Adjusted EBITDA was $55.3 million, driven by cost-saving initiatives despite COVID-19 impacts. The acquisition of Simplura Health Group for $575 million is expected to enhance growth in a $55 billion market. Matrix Medical Network, a subsidiary, reported $140.7 million in revenue, up 96.4% year-over-year, contributing positively to Providence's earnings.
