Frazier Healthcare Partners agreed to pay $418 million for a 60% stake in Matrix Medical Network. Matrix partners with healthcare plans to provide in-home services, particularly risk management, by a network of nurse practitioners. Providence Services Corp purchased Matrix in 2014 for $400 million. Matrix plans to diversify their offerings, perhaps through acquisitions.
Matrix’s success is due to their position at the forefront of in-home risk assessments. As Wyatt Matas discusses in our article, Healthcare M&A Update: First Half 2016, the companies that are able to efficiently deploy a mobile, clinical workforce are going to win.
Read the press release here: Frazier Takes Majority Stake in Matrix Medical to Boost the Target’s Growth Efforts