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press release

March 12, 2020, 9:01 a.m. EDT

The Providence Service Corporation and LogistiCare Extend Partnership with Lyft to Improve Access to Care for Millions Across the Country

ATLANTA, March 12, Mar 12, 2020 (GLOBE NEWSWIRE via COMTEX) -- ATLANTA, March 12, 2020 (GLOBE NEWSWIRE) -- The Providence Service Corporation ("Providence" or the "Company") /zigman2/quotes/203661569/composite PRSC +3.06% today announced that its subsidiary, LogistiCare Solutions, LLC ("LogistiCare"), has renewed and extended their preferred partnership with Lyft in a multi-year commitment. The joint effort will improve access to care for millions across the U.S. who rely on LogistiCare for reliable and convenient transportation to fulfill their medical needs.

Together, LogistiCare and Lyft have facilitated access to millions of rides since 2017 in 48 states and the District of Columbia.

"Lyft has been an exceptional partner that is instrumental to LogistiCare's success. This collaboration ensures millions of Americans will get to their medical appointments in a dependable way, even the most vulnerable who may not otherwise get the care they deserve," said Dan Greenleaf, CEO at The Providence Service Corporation. "We appreciate the professionalism of drivers on the Lyft platform and couldn't be more pleased to have extended our relationship."

LogistiCare and Lyft first announced a nationwide partnership in 2017. LogistiCare is Lyft's largest non-emergency medical transportation ("NEMT") partner, and this agreement represents the country's most significant collaboration between an NEMT manager and rideshare company.

The partnership allows eligible users to request on-demand and scheduled Lyft rides through LogistiCare in real-time. By partnering with Lyft to improve network capacity, LogistiCare ensures industry-leading NEMT services for members of commercial, Medicaid and Medicare plans.

"As an industry, we're starting to recognize the impact of transportation on overall health," said Megan Callahan, VP of Healthcare at Lyft. "We're incredibly proud to expand our partnership with LogistiCare and look forward to growing together."

LogistiCare manages trips through the industry's largest network of transportation providers, mass transit partnerships, mileage reimbursement programs and independent driver networks. Governed by different federal, state and local authorities and commercial contracts, the partnership with Lyft will serve members based on market and program-specific requirements tailored to the most appropriate authorized level of NEMT services available.

Lyft's entry into the healthcare sector began in 2016, when the rideshare company identified an acute and unmet need for on-demand NEMT services. Today, Lyft works with thousands of healthcare organizations in all 50 states -- including the top 10 health plans and 9 out of the top 10 health systems.

About The Providence Service Corporation and LogistiCare

LogistiCare, a wholly owned subsidiary of The Providence Service Corporation, is the nation's largest manager of non-emergency medical transportation ("NEMT") programs for state government agencies and managed care organizations. LogistiCare's services include NEMT ride management, call center management, transportation provider network development and credentialing, and vendor administration. LogistiCare is focused on providing access to convenient, cost-effective, safe and reliable transportation. LogistiCare delivers tech-enabled solutions that provide enhanced functionality, stronger network performance, streamlined workflow processes, and higher overall system efficiency. Annually LogistiCare manages over 63 million trips for more than 24 million eligible riders in 50 states and the District of Columbia. For more information about LogistiCare visit www.logisticare.com .

About Lyft

Lyft was founded in 2012 and provides millions of rides daily as one of the largest and fastest-growing transportation networks in the United States and Canada. As the world shifts away from car ownership to transportation-as-a-service, Lyft is at the forefront of this massive societal change. Our transportation network brings together rideshare, bikes, scooters, car rentals and transit all in one app. We are singularly driven by our mission: to improve people's lives with the world's best transportation.

Forward Looking Statements

This press release contains forward-looking statements about Lyft within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Lyft's future financial or operating performance as well as Lyft's other expectations, strategies, priorities, plans or intentions. Lyft's expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including those more fully described in Lyft's filings with the Securities and Exchange Commission ("SEC"), including in Lyft's Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on February 28, 2020.

Investor Contact:

The Equity Group
Kalle Ahl, CFA
T: (212) 836-9614
kahl@equityny.com

(C) Copyright 2020 GlobeNewswire, Inc. All rights reserved.

/zigman2/quotes/203661569/composite
US : U.S.: Nasdaq
$ 80.50
+2.39 +3.06%
Volume: 95,384
May 29, 2020 4:00p
P/E Ratio
109.06
Dividend Yield
N/A
Market Cap
$1.04 billion
Rev. per Employee
$346,241
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