I disagree with the two posts above.
Ultimately, Google will take domain authority and link authority over a keyword heavy site, so I would focus your efforts in those two areas first. Create well-written content with keyword mentions, and build up your citation list.
The format of page title that you listed would most likely work well, as it will focus on each area and keyword individually. If you do just the keyword approach alone, and there is another company that lists out the areas and addresses them, it will be hard to rank against a page like that because it's so much more specific. Another angle is that by building more pages, this can help your site becomes more authoritative.
Answer: Depending upon the service area/competition, you may need to create separate pages to focus on each keyword/area.
I wouldn't use this approach for every site, but I am arguing that this format is still very effective when used properly and when appropriate.