The Providence Service Corporation (PRSC)

The Providence Service Corporation was a provider of government-funded health and social services. Founded in Tucson, Arizona in the 1990s, it started with counseling, foster care and other social services for at-risk families, then grew into one of the largest US managers of non-emergency medical transportation, arranging rides to medical appointments for Medicaid and Medicare Advantage members.

Providence listed on NASDAQ under the symbol PRSC through an initial public offering in 2003. In 2007 it acquired LogistiCare, which became its largest business, and later bought Ingeus, an international workforce development company, and a stake in Matrix Medical Network, a home health assessment provider. Over time it sold or exited its social services and workforce units.

In 2020 the company expanded into personal and home care by buying Simplura Health Group and other in-home care providers. On January 6, 2021 it changed its name to ModivCare Inc., and its stock began trading on NASDAQ under the symbol MODV on January 7, 2021. ModivCare later moved its headquarters to Denver.

ModivCare took on substantial debt to fund its acquisitions, and pressure from contract changes and rising costs weakened its finances. On August 20, 2025 it filed for Chapter 11 bankruptcy with a prearranged plan to cut debt. NASDAQ suspended trading at the open on August 28, 2025, and the stock moved to OTC quotation as MODVQ. The bankruptcy court confirmed ModivCare's reorganization plan on December 15, 2025, under which ownership of the reorganized company was allocated to its lenders and other creditors.