ModivCare Announces Authorization of $75 Million Stock Repurchase Program

DENVER–(BUSINESS WIRE)–A technology-enabled healthcare services company that provides a suite of integrated supportive care solutions focused on improving patient outcomes, today announced that its Board of Directors has approved a $75 million stock repurchase program (the “2021 Stock Repurchase Program”), effective as of March 11, 2021.

Under the 2021 Stock Repurchase Program, the Company may repurchase common stock, par value $0.001 per share with an aggregate value of up to $75 million through December 31, 2021. The 2021 Stock Repurchase Program does not obligate the Company to repurchase any particular amount of common stock, and it could be modified, suspended, or discontinued at any time. Purchases of the Company’s common stock may be made in open market transactions effected through a broker-dealer at prevailing market prices, in block trades, or by other means in accordance with federal securities laws.

This press release is for informational purposes only and is neither an offer to buy nor the solicitation of an offer to sell, any of ModivCare Inc.’s common stock.

About ModivCare Inc.

ModivCare Inc. (Nasdaq: MODV) is a technology-enabled healthcare services company, which provides a suite of integrated supportive care solutions for public and private payors and their patients. ModivCare’s value-based solutions address the social determinants of health (SDoH), enable greater access to care, reduce costs, and improve outcomes. ModivCare is a leading provider of non-emergency medical transportation (NEMT), personal and home care, and nutritional meal delivery. ModivCare also holds a minority equity interest in CCHN Group Holdings, Inc. and its subsidiaries (“Matrix Medical Network”), which partners with leading health plans and providers nationally, delivering a broad array of assessment and care management services to individuals that improve health outcomes and health plan financial performance. To learn more about ModivCare, please visit: www.modivcare.com.

Contacts

Investors:
The Equity Group
Kalle Ahl, CFA
T: (212) 836-9614
kahl@equityny.com

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