SLR ABL Platform Provides $200 Million Senior Credit Facility for Modivcare

BOSTON--(BUSINESS WIRE)--The SLR ABL platform announced the closing of a $200 million senior credit facility for Modivcare TopCo, LLC (“Modivcare” or the “Company”), a technology-enabled healthcare services company providing a platform of supportive care solutions focused on improving health outcomes.

“This financing provides Modivcare with enhanced financial flexibility as we continue the successful execution of our strategic priorities,” said Daniel Silvers, Chairman of Modivcare’s Board of Managers. “SLR’s deep understanding of the healthcare sector and collaborative approach made them an ideal financing partner. We appreciate their support and look forward to working together as we continue delivering technology-enabled solutions that improve access to care and health outcomes.”

Tanner Phifer, SLR ABL, added, “Modivcare serves a mission-critical segment of the healthcare sector, and we are thrilled to support the Company’s strategic and financial objectives.”

“We are pleased to work with Modivcare’s team and their advisor, Moelis & Company, on this transformative transaction,” said Tom Schneider, SLR ABL. “Our healthcare ABL expertise enabled us to structure a creative and flexible solution to support the Company’s liquidity needs and corporate initiatives.”

About the SLR ABL Platform
The SLR ABL platform provides asset-based financing solutions to asset-rich middle market companies throughout the United States. Led by industry veterans with an average of 30+ years of experience, the SLR ABL platform offers a broad array of collateral-based financing alternatives, from $3 million to $300 million per issuer, for working capital, growth, acquisitions, refinancing, and restructuring/recapitalizations. For more information, please visit www.slrcapitalpartners.com.

About Modivcare
Modivcare is a Denver, Colorado-based provider of non-emergency medical transportation, personal care services, and monitoring solutions for public and private payors and their members. The Company’s value-based solutions address the social determinants of health (SDoH) by connecting members to essential care services. By doing so, Modivcare helps health plans manage risks, reduce costs, and improve health outcomes. For more information, please visit www.modivcare.com.