Debevoise & Plimpton LLP is advising The Providence Service Corporation (“Providence”) in its subscription agreement with an affiliate of Frazier Healthcare Partners (“Frazier”), a leading private equity firm based in Seattle, pursuant to which Frazier will own a 60% equity interest in Matrix Medical Network (“Matrix”), which values Matrix at approximately $537.5 million. Following closing of the transaction, Providence will retain a 40% equity interest in Matrix and have representatives on Matrix’s Board of Directors.
The Providence Service Corporation is a holding company whose subsidiaries provide critical healthcare and workforce development services, comprised of non-emergency transportation services, workforce development services, legal offender rehabilitation services, health assessment services and care management services in the United States and abroad.
The Debevoise team is led by partner Jonathan E. Levitsky and includes partners Peter A. Furci, Meir D. Katz, Gary M. Friedman and Jeffrey E. Ross and associates Joseph M. Binder, Sean Foley, Douglas M. Hirn, David P. Iozzi, John Rothert and Ramya S. Tiller.
Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.