The SLR ABL platform announced the closing of a $200 million senior credit facility for Modivcare TopCo, LLC, a technology-enabled healthcare services company providing supportive care solutions aimed at improving health outcomes. Financial terms beyond the facility amount were not disclosed.
The financing is intended to provide Modivcare with enhanced financial flexibility as the company continues executing its strategic priorities. Moelis & Company served as advisor to Modivcare on the transaction. Modivcare, based in Denver, Colorado, provides non-emergency medical transportation, personal care services, and monitoring solutions for public and private payors, addressing social determinants of health by connecting members to essential care services. The SLR ABL platform provides asset-based financing solutions to middle market companies across the United States, offering collateral-based financing ranging from $3 million to $300 million per issuer.
KEY QUOTES:
“This financing provides Modivcare with enhanced financial flexibility as we continue the successful execution of our strategic priorities. 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.”
Daniel Silvers, Chairman of the Board of Managers, Modivcare
“Modivcare serves a mission-critical segment of the healthcare sector, and we are thrilled to support the Company’s strategic and financial objectives.”
Tanner Phifer, SLR ABL
“We are pleased to work with Modivcare’s team and their advisor, Moelis & Company, on this transformative transaction. Our healthcare ABL expertise enabled us to structure a creative and flexible solution to support the Company’s liquidity needs and corporate initiatives.”
Tom Schneider, SLR ABL
