ModivCare Inc. - MODV STOCK NEWS

Modivcare (Nasdaq: MODV), a technology-enabled healthcare services company, will present at the Jefferies 2022 Healthcare Conference on June 9, 2022, at 11:30 a.m. Eastern Time in New York City. Both President and CEO Dan Greenleaf and CFO Heath Sampson will represent the company. A live webcast of the presentation will be accessible via Modivcare’s website. The company focuses on integrated supportive care solutions that improve patient outcomes and reduce costs.

Modivcare Inc. (NASDAQ: MODV) has acquired Guardian Medical Monitoring, LLC (GMM), a leading provider of remote patient monitoring solutions, from Guardian Alarm. This acquisition will enhance Modivcare's Remote Patient Monitoring (RPM) Segment, which currently monitors approximately 50,000 patients. Daniel E. Greenleaf, Modivcare's CEO, emphasized that this move aligns with the company's mission to improve patient care through technology. The transaction's financial terms remain undisclosed, but it is expected to strengthen customer relationships and expand Modivcare's service footprint.

Modivcare Inc. (Nasdaq: MODV) reported a 26.6% revenue increase to $574.5 million for Q1 2022, up from $453.6 million in Q1 2021. However, net income fell to $0.3 million or $0.02 per diluted share, a significant drop from $18.8 million or $1.31 per share a year prior. Adjusted EBITDA of $50.3 million represented 8.8% of revenue, slightly higher than the previous year, but operating income decreased to $14.9 million, reflecting 2.6% of revenue. The company noted the impact of acquisitions and an increase in non-emergency medical transportation revenue.

Modivcare Inc. (Nasdaq: MODV) announced that its executives, Dan Greenleaf and Heath Sampson, will present at the BofA Securities 2022 Healthcare Conference in Las Vegas on May 11, 2022, at 9:20 a.m. PT. A live webcast of the presentation will be available on Modivcare's website. The company, a leader in technology-enabled healthcare services, focuses on integrated supportive care solutions, enhancing patient outcomes through services like non-emergency medical transportation and remote patient monitoring.

Modivcare Inc. (Nasdaq: MODV) announced the appointment of Kevin Ellich as Head of Investor Relations. Dan Greenleaf, CEO, highlighted Ellich’s extensive experience in healthcare and investor relations, emphasizing the company's commitment to engaging the financial community. Ellich has over 20 years in the field, having held senior positions in various firms and founded Ace Advisory. He expressed eagerness to support Modivcare's growth narrative, addressing key markets and social determinants of health for vulnerable populations.

Modivcare has appointed Brett Hickman as the new Chief Commercial Officer to enhance its commercial strategy and drive revenue growth. With over 30 years of experience, Hickman aims to leverage his expertise in healthcare to improve patient outcomes and expand the company's integrated supportive care solutions. Dan Greenleaf, CEO, highlighted Hickman's collaborative leadership style as beneficial during this transformative phase. Modivcare focuses on addressing social determinants of health and delivering value-based care, positioning itself as a leader in healthcare services.

Modivcare Inc. (NASDAQ: MODV) has appointed Ilias Simpson as President of its Mobility division, focusing on non-emergency medical transportation (NEMT) services. This structural change follows the establishment of the Modivcare Home division earlier this year. CEO Dan Greenleaf emphasized Simpson's operational expertise and experience in enhancing patient care. Simpson has over 15 years of leadership in logistics and transportation. The company aims to improve patient outcomes through its integrated supportive care solutions.

Modivcare Inc. (NASDAQ: MODV) has announced that it will report its financial results for the first quarter ending March 31, 2022, on May 5, 2022, before the market opens. A conference call will follow the announcement at 8:00 a.m. ET, accessible via a dedicated phone line or through a live webcast on the company's website. Modivcare, a healthcare technology provider, focuses on integrated supportive care solutions to enhance patient outcomes, covering services like non-emergency medical transportation and remote patient monitoring.

Modivcare reported robust financial results for Q4 and full year 2021, with service revenue reaching $575.8 million in the fourth quarter, a 44% increase from $398.5 million in Q4 2020. Despite a loss from continuing operations of $31.5 million or $2.25 per share, adjusted EBITDA was $57.5 million. For the full year, revenues totaled $1,996.9 million, a 46% increase over $1,368.7 million in 2020. The company completed key acquisitions, enhancing its service offerings. However, significant losses related to the Matrix investment and rising costs were noted.