PRSC Providence Service Corp

Matrix Medical Network (Matrix) announced that it has reached an agreement to acquire LP Health Services, – formerly the healthcare division of LifePlans, Inc. -- from Munich American Reassurance Company. Based in Scottsdale, AZ, Matrix is the leading provider of in-home, facility and community-based risk adjustment and care management services to health plans and risk-bearing providers. 

LP Health Services is an innovative partner to Medicare Advantage and Managed Medicaid health plans across the country, delivering solutions such as community and post-acute assessments, programs that help close quality care gaps, and services aimed to engage hard-to-reach members. These capabilities, combined with Matrix’s established Medicare Advantage programs and expanding services to the Medicaid market, position Matrix to offer the most complete and comprehensive set of quality and revenue solutions in the industry.

“In recent years, Matrix has introduced new quality performance programs and has extended its support to Managed Medicaid plans,” said Walt Cooper, President and Chief Executive Officer of Matrix.  “These added capabilities accelerate our efforts as the market leader and allow us to offer our programs anywhere in the country.”

As a result of this acquisition, Matrix’s national clinical network will expand to 4,000 providers across all 50 states including a broad variety of clinical skill levels. With the increased emphasis on quality performance and the merging of revenue and quality management functions within health plans, Matrix will offer its customers an unmatched set of solutions and capabilities to help maximize their quality and improve their revenue.

“We are very excited to join forces with Matrix,” said Gary Guiser, President of LP Health Services. “We have a shared vision and commitment around serving the growing needs of health plans and their members and together, we can achieve even more.”

About Matrix Medical Network

Matrix Medical Network provides in-home assessments and comprehensive care management services to health plan members that improve health outcomes. Using an advanced technology platform, Matrix providers visit with health plan members in their homes to obtain a deeper understanding about how to best support the members’ care needs. This information is used to ensure that provider and health plan services are best aligned with the needs of the member, resulting in better overall health outcomes. Matrix is headquartered in Scottsdale, AZ, and partners with leading health plans across the country. Matrix is backed by Frazier Healthcare and Providence Service Corporation (Nasdaq:PRSC) of Stamford, CT. For more information, visit www.matrixmedicalnetwork.com.

Matrix Medical Network Media Contact

David M. Goodspeed: office 480.862.1970 or dgoodspeed@matrixhealth.net