A Denver-based technology company is jumping into the personal care space. ModivCare, a tech-enabled healthcare services firm, announced Monday it’s acquiring personal care company CareFinders Total Care LLC for $340 million. CareFinders is based in the Northeast and serves about 7,500 patients in New Jersey, Pennsylvania and Connecticut.
“ModivCare is leading the transformation to better connect people with care, through transportation, personal care, and nutritional meal delivery,” ModivCare president and CEO Daniel E. Greenleaf said. “The acquisition of CareFinders broadens access to in-home personal care solutions for patients and supports our strategy to expand on our personal care platform. We are evaluating an expanse of opportunities to continue this exciting and profitable growth. As we expand our footprint, we believe we will drive significant value for our patients, partners, and shareholders.”
Through a partnership during the pandemic, ModivCare provided approximately 85,000 rides to CareFinders staff, allowing them to continue caring for patients in their homes.
The transaction is expected to be completed sometime in the third quarter. ModivCare hopes to then expand CareFinders footprint across seven states, serving more than 18,000 patients annually.