Modivcare Enters into Comprehensive Restructuring Agreement to Strengthen its Future, Reduce Debt and Inject Capital
ModivCare Inc. (MODV)
Company Research
Source: Business Wire
Supermajority support of secured lenders outlined in Restructuring Support Agreement and via commitment for $100 million in a new investment to support operations and the future growth of the CompanyOperations and service lines continue uninterrupted, with no expected impact for clients, members, employees or transportation providers DENVER--(BUSINESS WIRE)--Modivcare Inc. (the “Company” or “Modivcare”) (Nasdaq: MODV), a technology-enabled healthcare services company providing a platform of integrated supportive care solutions focused on improving health outcomes, today announced that it has taken necessary and decisive action intended to strengthen its financial foundation while continuing to provide access to care, reduce costs, and improve outcomes for clients and members nationwide. Modivcare has filed for voluntary Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas to implement a comprehensive restructuring transaction with the support of a s
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