Frazier Healthcare Partners will acquire a majority equity interest in Matrix Medical Network, according to a press release.
Following completion of the transaction, Frazier will own a 60% equity interest, with The Providence Service Corp., a Stamford, Conn.-based holding company, retaining a 40% equity interest.
Frazier, with offices in Seattle and Menlo Park, Calif., is a provider of growth capital to healthcare companies, focusing on life sciences and growth buyout investments.
Matrix, based in Scottsdale, Ariz., provides in-home assessments and care management.
The transaction values Matrix at $537.5 million.