Matrix Medical Network
Matrix Medical Network of Arizona acquired HealthFair, based in Florida. Both businesses had expertise in medical assessments carried out on behalf of numerous health insurance companies: Matrix’s expertise was in sending registered health practitioners to people’s homes, and HealthFair’s expertise was in hosting assessments in mobile clinics at specially selected locations and times. To ensure the mobile clinics were fully utilized, a significant operational setup was created. Healthcare subscribers were contacted from call centers to make appointments at a location near to them. Buses were outfitted with a wide array of assessment tools, including mammogram machines. All equipment and employees had to be credentialled for the state in which the assessments took place.
The acquisition created a business with more than 6,000 community-based providers across all 50 states of the USA, and the ability to offer health assessments to nearly one in five Medicare Advantage members. Matrix was backed by Frazier Healthcare Partners and The Providence Service Corporation (Nasdaq: PRSC) of Stamford, CT for the transaction.
Deal size: not disclosed
Integration
Intista was engaged to oversee the integration merger of the two separate IT departments into a single department. Major themes included:
- Technology consolidation
- Updating hardware to improve compliance capabilities
- Process improvement
- Call center technology implementation
- Network overhaul (in-office)
- Improving connectivity to mobile clinics
- Product development strategy
- Integration mentoring
Issues included:
- Business cultural differences between the acquirer and acquired businesses
- Handling the credentialling of employees and equipment that cross state lines on more than 30 mobile clinics
- Coordinating integration efforts between multiple offices