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.

ModivCare, Inc. (NASDAQ:MODV ) Q3 2024 Earnings Conference Call November 7, 2024 8:30 AM ET Company Participants Kevin Ellich - Head of Investor Relations Heath Sampson - President and Chief Executive Officer Barbara Gutierrez - Chief Financial Officer Conference Call Participants Brian Tanquilut - Jefferies Pito Chickering - Deutsche Bank Bob Labick - CJS Securities Scott Fidel - Stephens Miles Highsmith - Deutsche Bank Michael Petusky - Barrington Research Rishi Parekh - JPMorgan Operator Good morning, and welcome to ModivCare's Third Quarter 2024 Financial Results Conference Call. At this time, all participants are in a listen-only mode.

ModivCare, Inc. (MODV) Q3 2024 Earnings Call Transcript

ModivCare (MODV) came out with quarterly earnings of $0.45 per share, missing the Zacks Consensus Estimate of $0.59 per share. This compares to earnings of $1.44 per share a year ago.

ModivCare (MODV) Q3 Earnings and Revenues Lag Estimates

DENVER--(BUSINESS WIRE)--Modivcare Inc. (the “Company” or “Modivcare”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today reported financial results for the three and nine months ended September 30, 2024. Third Quarter 2024 Summary: Service revenue of $702.0 million increased 2.2% from the third quarter of 2023 Net loss of $26.6 million, or negative $1.87 per diluted common.

Modivcare Reports Third Quarter 2024 Financial Results; Affirms 2024 Guidance

PORTSMOUTH, N.H.--(BUSINESS WIRE)--Modivcare Inc., a leading technology-enabled healthcare services company that provides a platform of integrated supportive care solutions, through its wholly owned subsidiaries, Valued Relationships, Inc. (VRI) and Higi Care, LLC (collectively for purposes of this press release, “Modivcare”), have partnered with Tenovi, an innovator in cellular-connected remote monitoring solutions, to deliver Adherium's Hailie® Smart inhalers for enhanced care of patients wit.

Modivcare and Tenovi Partner to Advance Respiratory Care, Lower Hospitalizations, and Cut Costs with Adherium's Hailie® Smart Inhalers

DENVER--(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 that the Company is scheduled to report financial results for the third quarter 2024 ended September 30, 2024, on Wednesday, November 6, 2024, after the market closes. Modivcare will host a conference call on Thursday, November 7, 2024, at 8:30.

Modivcare to Report Third Quarter 2024 Financial Results

SAN FRANCISCO--(BUSINESS WIRE)--Genesys®, a global cloud leader in AI-powered experience orchestration, announced Modivcare, a top provider of non-emergency medical transportation (NEMT), monitoring and personal in-home care, is transforming support for its 34 million members with the Genesys Cloud™ platform. To execute its digital-first strategy, Modivcare turned to the AI-powered experience orchestration capabilities of Genesys Cloud. Today, Genesys Cloud supports Modivcare teammates who effi.

Modivcare Boosts Health Care Experiences with Genesys Cloud AI

Shares of ModivCare Inc (MODV, Financial) surged 25.09% in mid-day trading on Oct 2. The stock reached an intraday high of $19.13, before settling at $18.11, up from its previous close of $14.48.

ModivCare Inc (MODV) Shares Up 25.09% on Oct 2

DENVER--(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 that it has amended its Credit Agreement, dated February 3, 2022 (as amended to date, the “Credit Agreement”), with JPMorgan Chase Bank, N.A., as administrative agent, along with other key lenders. Key Amendment Highlights: Total Net Leverage R.

Modivcare Announces Credit Agreement Amendment and Cash Collections Update

CHERRY HILL, N.J.--(BUSINESS WIRE)--Modivcare Foundation, the philanthropic foundation of Modivcare (Nasdaq:MODV), is proud to highlight its support of Build Jake's Place, an organization dedicated to creating inclusive playgrounds for children and adults with disabilities. This contribution spotlights Modivcare's commitment to improving health outcomes and ensuring that everyone, regardless of ability, can engage in meaningful activities. Build Jake's Place was founded in 2009 in memory of “Ba.

Modivcare Foundation and Build Jake's Place Join Forces to Increase Play Opportunities in New Jersey

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 addressed its recent filings with the U.S. Securities and Exchange Commission (“SEC”) and announced adjusted guidance. On September 12, 2024, the Company filed a Form S-3 shelf registration statement with the SEC, as well as a Form 8-K, providing additional.

Modivcare Provides Financial Update

U.S. stocks traded higher toward the end of trading, with the Dow Jones index surging more than 200 points on Thursday.

Dow Surges Over 100 Points; ModivCare Shares Plummet

CAMDEN, N.J.--(BUSINESS WIRE)--Modivcare Inc. (the “Company” or “Modivcare”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, through its Higi service, highlights its partnership with the American College of Cardiology (ACC) to introduce the Caring Hearts Initiative in Camden County, New Jersey. This initiative aims to bring essential supportive care services to communities wit.

Modivcare Partners with American College of Cardiology to Launch Caring Hearts Initiative in New Jersey

PORTLAND, Maine--(BUSINESS WIRE)--Modivcare Inc. (the “Company” or “Modivcare”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, is pleased to announce Portland resident Ben Fasulo has earned recognition as Modivcare Maine's Driver of the Month. Mr. Fasulo is a non-emergency medical transportation (NEMT) driver responsible for transporting Maine Medicaid members between their h.

Portland Medicaid Transportation Driver Ben Fasulo Earns Modivcare Maine Driver of the Month

ModivCare Inc. (NASDAQ:MODV ) Q2 2024 Earnings Conference Call August 8, 2024 8:30 AM ET Company Participants Kevin Ellich – Head-Investor Relations Heath Sampson – President and Chief Executive Officer Barbara Gutierrez – Chief Financial Officer Conference Call Participants Brian Tanquilut – Jefferies Bob Labick – CJS Securities Pito Chickering – Deutsche Bank Scott Fidel – Stephens Rishi Parekh – JPMorgan Mike Petusky – Barrington Research Operator Good morning and welcome to ModivCare's Second Quarter 2024 Financial Results Conference Call. At this time all participants are in a listen-only mode.

ModivCare Inc. (MODV) Q2 2024 Earnings Call Transcript

ModivCare (MODV) came out with a quarterly loss of $0.03 per share versus the Zacks Consensus Estimate of $0.81. This compares to earnings of $1.47 per share a year ago.

ModivCare (MODV) Reports Q2 Loss, Misses Revenue Estimates

DENVER--(BUSINESS WIRE)--Modivcare Inc. (the “Company” or “Modivcare”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today reported financial results for the three and six months ended June 30, 2024. Second Quarter 2024 Summary: Service revenue of $698.3 million, remaining consistent with the second quarter of 2023 Net loss of $128.9 million or negative $9.07 per diluted com.

Modivcare Reports Second Quarter 2024 Financial Results; Adjusts 2024 Guidance

DENVER--(BUSINESS WIRE)--Modivcare Inc. (the “Company” or “Modivcare”) (Nasdaq: MODV), a healthcare services company integrating technology into personalized care experiences, focused on improving health outcomes, announces the expansion of its relationship with BayCare Health System. As a leading community-based health system in West Central Florida, BayCare is committed to meeting the wide-ranging health needs in every community it serves and is leveraging Higi, a Modivcare service, in those.

Modivcare Expands Partnership with BayCare to Enhance Community Health Initiatives

DENVER--(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 that the Company is scheduled to report financial results for the second quarter 2024 ended June 30, 2024, on Wednesday, August 7, 2024, after the market closes. Modivcare will host a conference call on Thursday, August 8, 2024, at 8:30 a.m. Ea.

Modivcare to Report Second Quarter 2024 Financial Results

DENVER--(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 m.

Modivcare Announces Successful Refinancing

DENVER--(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 that the Company released its 2023 Sustainability Report. The annual report provides an update regarding Modivcare's sustainability framework, which is underpinned in four key areas: responsible business practices, member support, our team, and.

Modivcare Releases 2023 Sustainability Report Highlighting Responsible Business Practices and Advancements in Environmental Management

DENVER--(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, announced that L. Heath Sampson, Modivcare's President and Chief Executive Officer, and Barbara Gutierrez, Modivcare's Chief Financial Officer, will be attending the upcoming investor conferences: Leerink Partners 2024 Healthcare Crossroads Conference in Austi.

Modivcare to Present at Upcoming Investor Conferences

DENVER--(BUSINESS WIRE)--Modivcare Inc. (the “Company” or “Modivcare”) (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 launch of its Integration Hub, a groundbreaking digital platform that revolutionizes engagement and experience for Medicaid and Medicare members with non-emergency medical transportation (NEMT) benefits. Modivcare's Integration Hub is an in.

Modivcare Unveils Integration Hub: Revolutionizing Access to NEMT Benefits

DENVER--(BUSINESS WIRE)--Genesys®, a global cloud leader in AI-powered experience orchestration, announced Modivcare as the winner of the Employee Experience (EX) Mobilizer category in its 19th annual Customer Innovation Awards. The EX Mobilizer category recognizes organizations for modernizing their approach to managing and empowering employees, resulting in improved experiences. Modivcare, a tech-enabled, people-first healthcare company, is a leading provider of quality non-emergency medical.

Genesys Recognizes Modivcare as Winner of EX Mobilizer Award

ModivCare Inc. (NASDAQ:MODV ) Q1 2024 Earnings Conference Call May 3, 2024 8:30 AM ET Company Participants Kevin Ellich - Head of Investor Relations Heath Sampson - President & Chief Executive Officer Barbara Gutierrez - Chief Financial Officer Conference Call Participants Bob Labick - CJS Securities Raj Kumar - Stephens Taji Phillips - Jefferies Pito Chickering - Deutsche Bank Rishi Parekh - JPMorgan Mike Petusky - Barrington Research Operator Good morning and welcome to ModivCare's First Quarter 2024 Financial Results Conference Call. [Operator Instructions] Please note that this conference call is being recorded.

ModivCare Inc. (MODV) Q1 2024 Earnings Call Transcript

ModivCare (MODV) came out with a quarterly loss of $0.09 per share versus the Zacks Consensus Estimate of $0.20. This compares to earnings of $1.42 per share a year ago.

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