PRSC - Providence acquires Simplura Health Group for $575M

Providence Service (PRSC) expands into Home Care Segment with acquisition of Simplura Health Group for enterprise value of $575M.Simplura provides over 20M hours of non-medical personal care annually to primarily Medicaid patient populations, including seniors and disabled adults, in need of care monitoring and assistance performing daily living activities in the home setting.PRSC expects acquisition to be immediately accretive to growth, margins, and adj. EPS.Over LTM, Simplura generated revenue of ~463.1M and adj. EBITDA of $49.6M.The transaction is expected to close in the Q420.

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Providence acquires Simplura Health Group for $575M