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On the Record · ModivCare

ModivCare acquisitions, on the record

The businesses ModivCare bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.

Deals its annual reports describe

BusinessDealWhenValue
Charter LCI Corporation
Word for word“In December 2007, we acquired all of the outstanding equity of Charter LCI Corporation, the parent company of LogistiCare, Inc. (now ModivCare Solutions, LLC), which formed the foundation of our NEMT business and NEMT segment operations, for cash and 418,952 shares of our common stock totaling approximately $220.0 million;” 10-K for 2022
acquisitionDecember 2007cash and 418,952 shares of our common stock totaling approximately $220.0 million
Matrix
Word for word“In October 2014, we acquired all of the outstanding equity of Matrix for cash and common stock totaling approximately $390.7 million, and subsequently in October 2016, affiliates of Frazier Healthcare Partners (Frazier) obtained a 53.2% majority interest in Matrix through a stock subscription, and we received a distribution from Matrix totaling approximately $381.2 million;” 10-K for 2022
acquisitionOctober 2014for cash and common stock totaling approximately $390.7 million
National MedTrans, LLC, or NMT
Word for word“In May 2020, we acquired all of the outstanding equity of National MedTrans, LLC, or NMT, which expanded our NEMT business to include more than five million trips to its approximately two million members on behalf of state Medicaid agencies and Managed Care Organizations (MCOs) across 12 states, for cash totaling approximately $80.0 million;” 10-K for 2022
acquisitionMay 2020for cash totaling approximately $80.0 million
OEP AM, Inc., doing business as Simplura Health Group, or Simplura
Word for word“In November 2020, we acquired all of the outstanding equity of OEP AM, Inc., a Delaware corporation doing business as Simplura Health Group, or Simplura, which formed the foundation of our personal care business and Personal Care segment operations, for cash totaling approximately $575.0 million subject to customary adjustments;” 10-K for 2022
acquisitionNovember 2020for cash totaling approximately $575.0 million subject to customary adjustments
WellRyde from nuVizz
Word for word“In May 2021, we acquired the transportation management software WellRyde from nuVizz which increased the Company's technology platform for its NEMT network, for cash totaling approximately $12.0 million;” 10-K for 2022
acquisitionMay 2021for cash totaling approximately $12.0 million
Care Finders Total Care, or Care Finders
Word for word“In September 2021, we acquired all of the outstanding equity of Care Finders Total Care, or Care Finders, which added to our existing Personal Care segment operations, for cash totaling approximately $340.0 million subject to customary adjustments;” 10-K for 2022
acquisitionSeptember 2021for cash totaling approximately $340.0 million subject to customary adjustments
VRI Intermediate Holdings, LLC, or VRI
Word for word“In September 2021, we acquired all of the outstanding equity of VRI Intermediate Holdings, LLC, or VRI, which formed the foundation of our remote patient monitoring business and RPM segment operations, for cash totaling approximately $315.0 million subject to customary adjustments;” 10-K for 2022
acquisitionSeptember 2021for cash totaling approximately $315.0 million subject to customary adjustments
Guardian Medical Monitoring, or GMM
Word for word“In May 2022, we acquired all of the outstanding equity of Guardian Medical Monitoring, or GMM, which expanded our remote patient monitoring business and RPM segment operations, for cash totaling approximately $71.3 million subject to customary adjustments;” 10-K for 2022
acquisitionMay 2022for cash totaling approximately $71.3 million subject to customary adjustments
customer contracts from an entity in the personal care segment
Word for word“In May 2022, we acquired customer contracts from an entity in the personal care segment, which expanded our personal care segment operations, for cash totaling approximately $7.6 million subject to customary adjustments; and, as follows, with respect to our divestitures:” 10-K for 2022
acquisitionMay 2022for cash totaling approximately $7.6 million subject to customary adjustments
our operations comprising our former human services segment (sold to Molina Healthcare, Inc.)
Word for word“In November 2015, we sold to Molina Healthcare, Inc. our operations comprising our former human services segment, which provided counselors, social workers and behavioral health professionals to work with clients, primarily in the clients’ homes or communities, who were eligible for government assistance due to income level, disabilities or court order, for cash totaling approximately $200.0 million; and” 10-K for 2022
divestitureNovember 2015for cash totaling approximately $200.0 million
Charter LCI Corporation, the parent company of LogistiCare, Inc. (now ModivCare Solutions, LLC)
Word for word“In December 2007, we acquired all of the outstanding equity of Charter LCI Corporation, the parent company of LogistiCare, Inc. (now ModivCare Solutions, LLC), which formed the foundation of our NEMT business and NEMT segment operations, for cash and 418,952 shares of our common stock totaling approximately $220.0 million;” 10-K for 2023
acquisitionDecember 2007approximately $220.0 million
Circulation, Inc.
Word for word“In September 2018, we acquired all of the outstanding equity not already owned by us of Circulation, Inc., which extended our business to include an NEMT technology platform that allows for real time notifications to members on their mobile devices, integration with a wide variety of advanced traffic management systems, or ATMS, and transportation network companies, real time ride tracking, network management and analytics, for cash totaling approximately $45.1 million;” 10-K for 2023
acquisitionSeptember 2018approximately $45.1 million
customer contracts from an entity in the PCS segment
Word for word“In May 2022, we acquired customer contracts from an entity in the PCS segment, which expanded our PCS segment operations, for cash totaling approximately $7.6 million subject to customary adjustments; and” 10-K for 2023
acquisitionMay 2022approximately $7.6 million subject to customary adjustments
our former human services segment, sold to Molina Healthcare, Inc.
Word for word“In November 2015, we sold to Molina Healthcare, Inc. our operations comprising our former human services segment, which provided counselors, social workers and behavioral health professionals to work with clients, primarily in the clients’ homes or communities, who were eligible for government assistance due to income level, disabilities or court order, for cash totaling approximately $200.0 million; and” 10-K for 2023
divestitureNovember 2015approximately $200.0 million
former workforce development services (WD Services) segment, sold to three separate unaffiliated entities
Word for word“In three separate transactions effected in October 2017, July 2018 and December 2018, we ultimately sold to three separate and unaffiliated entities substantially all of our operations comprising our former workforce development services, or WD Services, segment, which provided workforce development services to long-term unemployed, disabled, and unskilled individuals, as well as individuals coping with medical illnesses and those that had been released from incarceration, for cash totaling approximately $15.8 million, a de minimus amount, and $46.5 million, respectively.” 10-K for 2023
divestitureOctober 2017, July 2018 and December 2018approximately $15.8 million, a de minimus amount, and $46.5 million
National MedTrans, LLC
Word for word“• In May 2020, we acquired all of the outstanding equity of National MedTrans, LLC, which expanded our NEMT business to include more than five million trips to its approximately two million members on behalf of state Medicaid agencies and Managed Care Organizations (MCOs) across 12 states, for cash totaling approximately $80.0 million;” 10-K for 2024
acquisitionIn May 2020approximately $80.0 million
OEP AM, Inc. (Simplura Health Group)
Word for word“• In November 2020, we acquired all of the outstanding equity of OEP AM, Inc., a Delaware corporation doing business as Simplura Health Group, or Simplura, which formed the foundation of our PCS segment operations, for cash totaling approximately $575.0 million subject to customary adjustments;” 10-K for 2024
acquisitionIn November 2020approximately $575.0 million subject to customary adjustments
WellRyde
Word for word“• In May 2021, we acquired the transportation management software WellRyde from nuVizz which increased the Company's technology platform for its NEMT network, for cash totaling approximately $12.0 million;” 10-K for 2024
acquisitionIn May 2021approximately $12.0 million
Care Finders Total Care
Word for word“• In September 2021, we acquired all of the outstanding equity of Care Finders Total Care, or Care Finders, which added to our existing PCS segment operations, for cash totaling approximately $340.0 million subject to customary adjustments;” 10-K for 2024
acquisitionIn September 2021approximately $340.0 million subject to customary adjustments
VRI Intermediate Holdings, LLC
Word for word“• In September 2021, we acquired all of the outstanding equity of VRI Intermediate Holdings, LLC, or VRI, which formed the foundation of our Monitoring segment operations, for cash totaling approximately $315.0 million subject to customary adjustments;” 10-K for 2024
acquisitionIn September 2021approximately $315.0 million subject to customary adjustments
Guardian Medical Monitoring
Word for word“• In May 2022, we acquired all of the outstanding equity of Guardian Medical Monitoring, or GMM, which expanded our Monitoring segment operations, for cash totaling approximately $71.3 million subject to customary adjustments;” 10-K for 2024
acquisitionIn May 2022approximately $71.3 million subject to customary adjustments
customer contracts from an entity in the personal care industry
Word for word“• In May 2022, we acquired customer contracts from an entity in the personal care industry, which expanded our PCS segment operations, for cash totaling approximately $7.6 million subject to customary adjustments; and” 10-K for 2024
acquisitionIn May 2022approximately $7.6 million subject to customary adjustments
As filedReported in the company's financial data (XBRL), each linked to its filing
Fiscal year endedCash paid for acquisitions (net of cash acquired)
2016-12-31$0
2017-12-31$0
2018-12-31$43.7 million
2019-12-31$0
2020-12-31$622.9 million
2021-12-31$664.3 million
2022-12-31$78.8 million
2023-12-31$0
2024-12-31$0

Deal filings since 2016

Read from ModivCare’s annual reports (10-K for 2024, 10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2025-03-06. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.