ATLANTA, June 24, 2019 (GLOBE NEWSWIRE) -- The Providence Service Corporation (“Providence”) (Nasdaq: PRSC) and its subsidiary, LogistiCare Solutions, LLC (“LogistiCare”), today announced that effective immediately R. Carter Pate will serve as Interim Chief Executive Officer of LogistiCare. Mr. Pate will continue his duties as Providence’s Interim CEO and assumes the responsibilities of Jeff Felton, who has resigned as CEO of LogistiCare effective immediately.
The merging of the CEO role is the culmination of Providence’s consolidation into LogistiCare. The next permanent leader of the combined organization will reflect the stream-lined strategic and organizational direction of the Company.
Mr. Pate will remain as Interim CEO of Providence and LogistiCare until December 31, 2019. Over the next six months, Mr. Pate will work with Providence’s Board of Directors to conduct a search internally and externally to identify a permanent CEO for the combined business.
About R. Carter Pate
Carter Pate is the Founder and Chief Executive Officer of Carter Pate, LLC, a consulting firm he founded in 2014. Since 2017 he has served as the Interim CEO of Providence Service Corporation (NASDAQ: PRSC). From 2011 to 2014, Mr. Pate served as the Chief Executive Officer of MV Transportation, Inc which is the largest independent fixed route and paratransit company in the United States. Prior to joining MV, he was a Partner at PricewaterhouseCoopers, LLC from 1996 to 2011 when he retired as the Global and U.S. Managing Partner for the Healthcare and Government Contracting practice, and prior to that, he was the U.S. Managing Partner, Advisory Line of Service and prior a Corporate Restructuring Partner.
Mr. Pate is the Chairman of the Board of BioScrip, Inc. (Nasdaq: BIOS) since 2015 and previously served as its board’s Audit Committee chair. Mr. Pate was recently elected as an independent director to RLH Corporation’s (NYSE: RLH) Board of Directors and is a Director of Advanced Emissions Solutions, Inc. (Nasdaq: ADES) since 2016 and serves as a member of the board’s Audit Committee. Mr. Pate has a Master of Science in Accounting and Information Management from the University of Texas at Dallas and holds various financial certifications including being a Certified Public Accountant in Texas.
The Providence Service Corporation, through its fully-owned subsidiary LogistiCare Solutions, LLC, is the nation's largest manager of nonemergency medical transportation programs for state governments and managed care organizations. Its range of services includes call center management, network credentialing, vendor payment management and non-emergency medical transport management. The Company also holds a minority interest in Matrix Medical Network which provides a broad array of assessment and care management services to individuals that improve health outcomes and health plan financial performance. For more information, please visit prscholdings.com.
Forward Looking Statements
Certain statements contained in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on current expectations, assumptions, estimates and projections about our business and our industry, and are not guarantees of our future performance. These statements are subject to a number of known and unknown risks, uncertainties and other factors which may cause actual events to be materially different from those expressed or implied herein, including factors disclosed in our annual report on Form 10-K and subsequent filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. We undertake no obligation to update or revise any forward-looking statements contained in this release, whether as a result of new information, future events or otherwise, except as required by applicable law.
Investor Relations Contact
Bryan Wong – Investor Relations (404) 888-5902