Providian Companies

Oct 4, 2013

Align Networks Enters into Definitive Agreement to Acquire Providian Companies October 04, 2013 10:00 AM Eastern Daylight Time JACKSONVILLE, Fla.--( BUSINESS WIRE )--Align Networks Inc. (Align Networks or Align), a leading provider of workers’ compensation physical medicine programs, announced today that it has entered into a definitive agreement to acquire Providian Companies (Providian), a Physical Therapy and Functional Capacity Evaluation (FCE) specialty company in the workers’ compensation industry. Providian, founded in 2004, has established a strong presence in the southeastern US. In addition, Providian offers a unique and highly regarded FCE service for its clients, helping clients improve results in assessing return to work status. The combined company will continue to provide best in class customer service, technology, and clinical programs to its clients. In addition, clients will benefit from an expanded provider network. The acquisition will further strengthen Align’s physical medicine scheduling services and clinical outcomes programs, while adding an innovative and proprietary FCE program. “We are excited to join the Align team. Our current customers can expect the same level of support they’ve always enjoyed, coupled with advanced resources,” stated Tara Marchand, co-founder of Providian. Brian Imler, co-founder of Providian said, “Our two organizations share many fundamental principles, including a need for exceeding the expectations our customers. We are eager to combine our experiences and solutions to create an enhanced service for our clients.” “Providian has been successful in developing a customer-service focused model with a strong clinical component, very similar to Align. We feel combining not only the operational, but clinical expertise, of both organizations will further position Align as the clinical leader in the physical medicine space,” commented Butch Hofstetter, president and co-founder of Align Networks. About Align Networks Align Networks manages a specialized workers’ compensation provider network of outpatient rehabilitation facilities throughout the United States. The company partners with its customers to expedite scheduling and treatment of injured workers, while providing significant cost savings relative to direct-to-provider contracting and ensuring appropriate usage through its proprietary utilization management system. Align Networks is a portfolio company of General Atlantic, a leading global growth investment firm. Founded in 2006, Align is headquartered in Jacksonville, Fla. For further information, please see: www.alignnetworks.com About Providian Providian Companies focuses on providing effective physical therapy utilization and a greater overall cost savings through exceptional therapy coordinators, and adept clinical oversight. The company’s complimentary proprietary FCE program allows it to deliver the most hands-on, objective, and accurate FCEs in the workers compensation industry. Providian is headquartered in Green Cove Springs, Fla. Contacts