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Slide #55. Providence Service Corporation — Ingeus Limited
Providence Service Corporation (NASDAQ:PRSC)
The Providence Service Corporation (Nasdaq: PRSC), a leader in the management and provision of human social services and non-emergency transportation through a variety of government-sponsored programs, announced today that it has entered into an agreement to acquire Ingeus Limited. Australia-based Ingeus has operations in 10 countries and four continents and is recognized as a pre-eminent distributed workforce development company and market leader in outsourced employability programs, operating in the social improvement, employment and welfare services markets. The acquisition expands Providence's footprint into new markets, diversifies its customer base, and enhances its workforce development expertise.
Providence Service owns subsidiaries and investments primarily engaged in the provision of healthcare services in the U.S. Co. operates in one principal business segment, Non-Emergency Transportation Services (NET Services). 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 managed care organizations for the coordination of their members' (NET end-users) non-emergency transportation needs. NET end-users are typically Medicaid or Medicare eligible members.
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