DENVER / Jul 03, 2024 / Business Wire / Modivcare Inc. (“Modivcare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced the successful refinancing of all outstanding $500 million aggregate principal amount of its 5.875% Senior Notes due 2025 with a new $525 million term loan B, which closed on July 1, 2024. The transaction addressed the Company’s upcoming debt maturities and enhanced financial flexibility to ensure long-term value for our shareholders.
Refinancing Key Highlights:
The refinancing was led by JPMorgan Chase Bank, N.A., and respective roles supported by the Company’s bank group. KKR Capital Markets LLC acted as Capital Markets Advisor and Gibson, Dunn & Crutcher LLP served as legal counsel to the Company.
About Modivcare
Modivcare Inc. (Nasdaq: MODV) is a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions for public and private payors and their members. Our value-based solutions address the social determinants of health (SDoH), enable greater access to care, reduce costs, and improve outcomes. We are a leading provider of non-emergency medical transportation (NEMT), personal care services (PCS) and remote patient monitoring (RPM). The Company also holds a minority equity investment in CCHN Group Holdings, Inc. (dba Matrix Medical Network), a leading and independent national provider of in-home comprehensive health assessments. To learn more about Modivcare, please visit www.modivcare.com.
Last Trade: | US$3.21 |
Daily Change: | -0.52 -13.94 |
Daily Volume: | 668,201 |
Market Cap: | US$46.060M |
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