Welsh, Carson, Anderson & Stowe has entered into an agreement to sell CCHN Group Holdings, which does business as Matrix Medical Network, to Providence Service Corporation (NASDAQ: PRSC) for $400 million. Anticipated to close as early as 4Q, the deal consists of $360 million in cash due at closing and nearly 950,000 shares of Providence stock (valued at roughly $40 million as of close of trading Sept. 17). Backed by WCAS since 2011, Matrix is a provider of in-home health assessments and care management services with a national footprint across 33 U.S. states. The company generated $187 million in revenue in the 12 months ended June 30. Ropes & Gray advised WCAS and the company in the sale. Financing was provided by BofA Merrill Lynch, RBC Capital Markets and SunTrust Robinson Humphrey.