ModivCare

ModivCare, Inc. provides technology-enabled services, which offers integrated supportive care solutions for public and private payors and their patients. It operates through the following business segments: Non-Emergency Medical Transportation (NEMT), Matrix Investment, and Personal Care. The NEMT segment operates under the brands ModivCare Solutions, LLC, and Circulation and includes the Company’s activities for executive, accounting, finance, internal audit, tax, legal, certain strategic and development functions and the Company's insurance captive. The Matrix Investment segment provides home and mobile-based healthcare services for health plans. The Personal Care segment consists of non-medical home care to Medicaid patient populations, including seniors and disabled adults, in need of care monitoring and assistance performing activities of daily living. The company was founded by Fletcher Jay McCusker in December 1996 and is headquartered in Denver, CO.

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ModivCare exceeds 2022 targets, eyes growth through innovation and efficiency

ModivCare's strong performance in 2022 sets a positive trajectory for 2023 with revenue and EBITDA growth.
Strategic realignment, innovation focus, and leadership changes position the company for future success.
Challenges like managing cash flows and cost shifts are being addressed to drive improved margins.
Opportunities in NEMT growth, RPM innovation, and meal delivery expansion offer avenues for future expansion.

ModivCare reports solid Q1 results, eyes long-term growth targets

ModivCare's Q1 performance showed revenue growth and maintained EBITDA guidance, focusing on operational efficiency and margin improvement.
Strengths lie in strategic initiatives, positive outlook on growth, and confidence in achieving long-term targets despite challenges.
Challenges include Medicaid redetermination impact, NEMT margin components, and uncertainties around leverage improvement.
Opportunities present in cost reduction, margin optimization, and potential free-cash generation, emphasizing long-term stability and growth.

ModivCare reports Q2 revenue growth, adjusts guidance amidst Medicaid challenges

ModivCare's Q2 performance showed revenue growth driven by the Home division, despite challenges in NEMT and cash flow.
The company is optimistic about revenue guidance, new executive hires, and cost-saving initiatives to mitigate redetermination impacts.
Anticipated challenges include Medicaid redetermination impacts and reductions in covered lives, balanced by opportunities in digital capabilities and service enhancements.
Overall, ModivCare aims to navigate challenges, capitalize on opportunities, and maintain financial stability through strategic initiatives.

ModivCare reports strong Q3 results, eyes margin improvement by 2024

ModivCare's Q3 earnings call showcased strong financial performance, strategic pillars driving transformative initiatives, and a focus on value-based care. The company is on track to meet revenue and adjusted EBITDA guidance for 2023, with expectations of margin improvements and sustained positive free cash flow post-2023.

ModivCare reports solid Q4 growth, eyes contract wins for 2024

ModivCare reported solid revenue growth in Q4 2023, driven by key segments like NEMT, PCS, and RPM. Despite challenges in Q1 2024, the company aims for strong financial performance in 2024, targeting adjusted EBITDA of $220-230 million.
The company's focus on cost-saving initiatives, customer integration, and quality improvements has led to significant contract wins in managed Medicaid. Labor availability stabilization and strategic positioning in the healthcare market are key strengths.
Challenges like contract losses and cash flow tensions persist, but ModivCare remains optimistic about growth opportunities through new contract wins and Matrix monetization. The company's proactive approach to financial management and focus on performance enhancement are notable.
Opportunities lie in winning more contracts, improving NEMT margins, and leveraging existing state presence for revenue growth. Matrix monetization and potential RFPs in 2024 present additional avenues for revenue generation and market expansion.

ModivCare meets Q1 guidance, eyes growth through strategic initiatives

ModivCare's Q1 performance met guidance, with a focus on enhancing competitive positioning.
Challenges include delayed reimbursement increases and lower EBITDA in personal care segment.
Opportunities lie in refinancing, monetizing Matrix, and potential sale of personal care segment.
Overall, ModivCare is strategically positioned for growth and operational efficiency.

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ModivCare, Inc. is a technology-enabled healthcare services company, which engages in the provision of a suite of integrated supportive care solutions for public and private payors and their members. It operates through the following segments: Non-Emergency Medical Transportation (NEMT), Personal Care, Remote Patient Monitoring (RPM), and Corporate and Other. The NEMT segment is involved in the non-emergency medical transportation programs for state governments and managed care organizations, or MCOs, in the U.S. The Personal Care segment offers home personal care services to State and Managed Medicaid, Medicare, and Private Pay patient populations in need of care monitoring and assistance performing activities of daily living. The RPM segment focuses on remote patient monitoring solutions, including personal emergency response systems, vitals monitoring, and data-driven patient engagement solutions. The Corporate and Other segment includes the costs associated with the company's corporate operations. The company was founded by Fletcher Jay McCusker in December 1996 and is headquartered in Denver, CO.

DENVER, Colo.--(BUSINESS WIRE)--ModivCare Inc. (the “Company” or “ModivCare”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions focused on improving patient outcomes, today reported financial results for the three and nine months ended September 30, 2021. Third Quarter 2021 Highlights: Revenue of $493.1 million, a 53.8% increase as compared to $320.6 million in the third quarter of 2020 Loss from continuing operations,

ModivCare Reports Third Quarter 2021 Financial Results

ModivCare (NASDAQ:MODV) is set to give its latest quarterly earnings report on Friday, 2021-11-05. Here's what investors need to know before the announcement.

Earnings Outlook For ModivCare

ModivCare (MODV) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Analysts Estimate ModivCare (MODV) to Report a Decline in Earnings: What to Look Out for

DENVER--(BUSINESS WIRE)--ModivCare Inc. (“ModivCare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions focused on improving patient outcomes, today announced that Dan Greenleaf, President and Chief Executive Officer, and Heath Sampson, Chief Financial Officer, are scheduled to present at Credit Suisse's 30th Annual Virtual Healthcare Conference on Monday, November 8, 2021 at 9:40 a.m. Eastern Time. A

ModivCare to Present at Credit Suisse's 30th Annual Virtual Healthcare Conference

DENVER--(BUSINESS WIRE)--ModivCare Inc. (“ModivCare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions focused on improving patient outcomes, today announced that the Company is scheduled to report financial results for the third quarter ended September 30, 2021 on Friday, November 5, 2021, before the market opens. ModivCare will host a conference call on Friday, November 5, 2021 at 8:00 a.m. Eastern

ModivCare Inc. to Report Third Quarter 2021 Financial Results and Host Conference Call on Friday, November 5, 2021

DENVER--(BUSINESS WIRE)--ModivCare Inc. (“ModivCare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions focused on improving patient outcomes, today announced that Heath Sampson, Chief Financial Officer, is scheduled to present at Deutsche Bank's 29th Annual Leveraged Finance Conference, which is being held virtually, on Monday, October 4, 2021 at 3:15 pm ET. A webcast of the presentation will be acces

ModivCare to Present at Deutsche Bank's 29th Annual Leveraged Finance Conference

DENVER--(BUSINESS WIRE)--ModivCare Inc. (“ModivCare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions focused on improving patient outcomes, today announced that the Company has completed its previously announced acquisition of VRI Intermediate Holdings, LLC (“VRI”), an industry-leading provider of remote patient monitoring solutions, for a purchase price of approximately $315 million, subject to cus

ModivCare Completes Acquisition of VRI

DENVER--(BUSINESS WIRE)--ModivCare Inc. (“ModivCare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions focused on improving patient outcomes, today announced that the Company has completed its previously announced acquisition of Care Finders Total Care LLC (“CareFinders”), a personal care provider in the Northeast with a scaled presence in New Jersey, Pennsylvania, and Connecticut. The aggregate consi

ModivCare Completes Acquisition of CareFinders

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DENVER--(BUSINESS WIRE)--ModivCare Inc. (“ModivCare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions focused on improving patient outcomes, today announced that Dan Greenleaf, President and Chief Executive Officer, and Heath Sampson, Chief Financial Officer, are scheduled to participate in one-on-one meetings at the following upcoming investor events: Barrington Research's 14th Annual Fall Investmen

ModivCare Inc. to Participate in Upcoming Investor Events

ModivCare (MODV) could be a solid choice for shorter-term investors looking to capitalize on the recent price trend in fundamentally sound stocks. It is one of the many stocks that passed through our shorter-term trading strategy-based screen.

Here's What Could Help ModivCare (MODV) Maintain Its Recent Price Strength

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MODV or CRL: Which Is the Better Value Stock Right Now?

ATLANTA--(BUSINESS WIRE)--ModivCare Inc. (“ModivCare”) (Nasdaq: MODV), today announced the pricing of the previously announced private placement offering and has agreed to issue and sell $500 million in aggregate principal amount of senior notes due on October 1, 2029, which will bear interest at a rate of 5.000% per annum (the “notes”), upsized from $400 million, issued by ModivCare Escrow Issuer, Inc. (the “Escrow Issuer”), a Delaware corporation established to issue the notes. Completion of

ModivCare Announces Pricing of its $500 Million Private Offering of Senior Notes

ATLANTA--(BUSINESS WIRE)--ModivCare Inc. (“ModivCare”) (Nasdaq: MODV), today announced a private placement offering of $400 million in aggregate principal amount of newly issued senior notes maturing in 2029 (the “notes”), issued by ModivCare Escrow Issuer, Inc. (the “Escrow Issuer”), a Delaware corporation established to issue the notes. Completion of the offering is subject to, among other things, pricing and standard closing and market conditions. ModivCare intends to use the proceeds from t

ModivCare Announces $400 Million Private Offering of Senior Notes

ModivCare's (MODV) CEO Dan Greenleaf on Q2 2021 Results - Earnings Call Transcript

ModivCare (MODV) delivered earnings and revenue surprises of 43.92% and 1.43%, respectively, for the quarter ended June 2021. Do the numbers hold clues to what lies ahead for the stock?

ModivCare (MODV) Q2 Earnings and Revenues Top Estimates

Shares of ModivCare (NASDAQ:MODV) remained unaffected after the company reported Q2 results. Quarterly Results Earnings per share decreased 15.81% over the past year to $2.13, which beat the estimate of $1.28.

ModivCare: Q2 Earnings Insights

DENVER--(BUSINESS WIRE)--ModivCare Inc. (the “Company” or “ModivCare”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions focused on improving patient outcomes, today reported financial results for the three and six months ended June 30, 2021. Second Quarter 2021 Highlights: Revenue of $474.4 million, a 68.1% increase as compared to $282.3 million in the second quarter of 2020 Income from continuing operations, net of t

ModivCare Reports Second Quarter 2021 Financial Results

On Friday, August 06, ModivCare (NASDAQ:MODV) will release its latest earnings report. Benzinga's outlook for ModivCare is included in the following report.

ModivCare's Earnings Outlook

DENVER--(BUSINESS WIRE)--ModivCare Inc. (“ModivCare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions focused on improving patient outcomes, today announced that the Company has signed a purchase agreement to acquire VRI Intermediate Holdings, LLC (“VRI”), an industry-leading provider of remote patient monitoring (“RPM”) solutions. Under the terms of the agreement, ModivCare will acquire 100 percent

ModivCare Announces Acquisition of VRI, a Leading Provider of Remote Patient Monitoring Solutions in the United States

Earnings Preview: ModivCare (MODV) Q2 Earnings Expected to Decline

ModivCare Inc (NASDAQ: MODV) has agreed to acquire CareFinders Total Care LLC for $340 million. CareFinders is a personal care provider in the Northeast, with a presence in New Jersey, Pennsylvania, and Connecticut, with annual revenue of approximately $200 million.

ModivCare Expands Personal Care Segment With CareFinders Acquisition Of $340M

DENVER--(BUSINESS WIRE)--ModivCare Inc. (“ModivCare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions focused on improving patient outcomes, today announced that the Company has signed a merger agreement to acquire CareFinders Total Care LLC (“CareFinders”). CareFinders is a personal care provider in the Northeast, with a scaled presence in New Jersey, Pennsylvania, and Connecticut. CareFinders deliv

ModivCare Expands Personal Care Segment with Acquisition of CareFinders

DENVER--(BUSINESS WIRE)--ModivCare Inc. (“ModivCare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions focused on improving patient outcomes, today announced that, effective July 20, 2021, Jonathan B. Bush has been promoted to Senior Vice President, General Counsel and Secretary, and Kenneth Shepard has been promoted to Vice President, Chief Accounting Officer. Mr. Bush has over two decades of in-hous

ModivCare Inc. Announces Senior Management Appointments

DENVER--(BUSINESS WIRE)--ModivCare Inc. (“ModivCare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions focused on improving patient outcomes, today announced that the Company is scheduled to report financial results for the second quarter ended June 30, 2021 on Friday, August 6, 2021, before the market opens. ModivCare will host a conference call on Friday, August 6, 2021 at 8:00 a.m. Eastern Time to

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