Modivcare slumps after filing for bankruptcy protection

ModivCare

21/08/2025 11:41

** Shares of healthcare service provider Modivcare MODV.O fall 40% to $1.11 premarket

** Late on Wednesday, company said it had filed for Chapter 11 bankruptcy protection to restructure its finances

** Company is expected to cut total funded debt by about $1.1 billion

** Lenders are providing $100 mln in new financing to keep operations running

** Modivcare expects to complete the bankruptcy process by early Q4 2025

** Stock down 84.4% YTD

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))