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Weekly News Wire | September 13, 2015

Molina Acquires Providence Service Corporation’s Behavioral Health Subsidiaries For $200 Million

On September 3, 2015, Molina Healthcare and The Providence Service Corporation (Providence) announced an agreement in which Molina will acquire two Providence behavioral health subsidiaries, Providence Human Services, LLC (PHS) and Providence Community Services, LLC (PCS). Molina will pay Providence approximately $200 million cash for the two subsidiaries; the transaction is expected to close during the fourth quarter of 2015.

PHS provides home- and community-based behavioral and mental health services for children, adolescents, and adults. It has operations in 23 states and the District of Columbia. In 2014, PHS and PCS together generated revenue of approximately $346 million.

Molina . . .

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