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SOURCE The Providence Service Corporation
TUCSON, Ariz., Jan. 7, 2014 /PRNewswire/ -- The Providence Service Corporation (Nasdaq: PRSC) today announced the appointment of Michael-Bryant Hicks as Senior Vice President, General Counsel, Corporate Secretary, and Chief Compliance Officer. Hicks succeeds Fred D. Furman, who is retiring after ten years of serving as General Counsel.
Hicks, age 39, comes to Providence with significant corporate and regulatory experience in the healthcare industry. He was most recently an Assistant General Counsel in the law department of DaVita HealthCare Partners Inc. (NYSE: DVA) in Denver, CO. In this role, Hicks led numerous mergers and acquisitions for various DaVita entities. After leading the $4.4 billion acquisition of HealthCare Partners to a successful close in November 2012, Hicks served as interim general counsel of the division.
"Hicks' legal, related business expertise and ethics will bring significant value to Providence," said Providence Chief Executive Officer, Warren Rustand. "His experience and passion for behavioral health issues is a great match for Providence's business and growth agenda as we focus on strategic opportunities in the healthcare sector."
Prior to DaVita, Hicks was Associate General Counsel for Beckman Coulter where he managed the legal function for the company's Asia and Latin America operations and provided legal counsel for domestic mergers and acquisitions and regulatory matters. Hicks began his career working as a corporate lawyer for two large law firms, Vinson and Elkins and Mayer Brown, Rowe & Maw.
Hicks received his law degree from Yale Law School and his bachelor's degree from the University of North Carolina at Chapel Hill. In addition, he worked on small business incubation projects as a Fulbright Scholar in Quito, Ecuador.
Rustand added, "I would like to thank Fred for his ten years of outstanding service at Providence. During this time, Fred did an exceptional job of guiding the company's legal function, oversaw multiple acquisitions, and helped transform our business. We wish Fred the best in his retirement."
The Providence Service Corporation provides or manages the delivery of home and community based human services and NET management services to primarily government sponsored clients under programs such as welfare, juvenile justice, Medicaid and corrections. Providence is unique in that it provides or manages its human services primarily in the client's own home or in community based settings rather than in hospitals or other treatment facilities and provides its NET management services through local transportation providers rather than an owned fleet of vehicles. The Company provides a range of services through its direct entities to approximately 55,700 clients at September 30, 2013, with approximately 16.0 million individuals eligible to receive the Company's non-emergency transportation services. The Company had over $1.1 billion in revenues in 2012.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "believe," "demonstrate," "expect," "estimate," "forecast," "anticipate," "should" and "likely" and similar expressions identify forward-looking statements. In addition, statements that are not historical should also be considered forward-looking statements. Readers are cautioned not to place undue reliance on those forward-looking statements, which speak only as of the date the statement was made. Such forward-looking statements are based on current expectations that involve 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 by such forward-looking statements. These factors include, but are not limited to, the global credit crisis, capital market conditions, the implementation of the healthcare reform law, state budget changes and legislation and other risks detailed in Providence's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2012. Providence is under no obligation to (and expressly disclaims any such obligation to) update any of the information in this press release if any forward-looking statement later turns out to be inaccurate whether as a result of new information, future events or otherwise.
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