ModivCare lands $200M credit facility from SLR ABL
What's the deal? ModivCareDealroom has a profile for this one. Try Dealroom → has secured a $200 million senior credit facility from the SLR Capital PartnersDealroom has a profile for this one. Try Dealroom → ABL platform. The Denver-based healthcare services company provides non-emergency medical transportation, personal care, and monitoring solutions for public and private payors. The facility closed in July 2026, with Moelis & CompanyDealroom has a profile for this one. Try Dealroom → advising ModivCare.
What's the endgame? ModivCare's platform targets the social determinants of health, connecting members to care services to help health plans cut costs and improve outcomes. Chairman Daniel Silvers said the financing gives the company "enhanced financial flexibility as we continue the successful execution of our strategic priorities."
Why now? SLR structured the deal as an asset-based lending arrangement, drawing on collateral rather than pure cash flow. Tom Schneider of SLR ABL said its healthcare expertise "enabled us to structure a creative and flexible solution to support the Company's liquidity needs and corporate initiatives."
The signal: Asset-based debt is becoming a go-to lever for healthcare firms managing liquidity without diluting equity. The SLR platform offers facilities from $3 million to $300 million; at $200 million, ModivCare's deal sits near the top of that range, reflecting the scale of a company operating across public and private payor markets.
Read more: Morningstar
