The Providence Service Corporation Buyback
OLI recorded this information on 3/12/2020
The Providence Service Corporation
The Providence Service Corporation ("Providence" or the "Company") (Nasdaq: PRSC), the country's largest provider of non-emergency medical transportation ("NEMT") programs and holder of a minority interest in Matrix Medical Network, today announced that its Board of Directors has approved a $75 million stock repurchase program (the "New Stock Repurchase Program"), effective as of March 12, 2020.
Providence Service manages non-emergency medical transportation (NET) programs for state governments and managed care organizations (MCOs) in the U.S. through its subsidiaries, LogistiCare Solutions LLC and Circulation, Inc. Co.'s NET Services segment provides non-emergency transportation solutions to clients, including health systems, in various states and the District of Columbia. NET Services primarily contracts with state Medicaid programs and MCOs, including Medicare Advantage plans, for the coordination of their members' non-emergency transportation needs. Through its nvestment in CCHN Group Holdings, Inc. and its subsidiaries, Co. provides assessment and care management services.
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Strong Buy (4.00 out of 4)