Medical Transport Firm ModivCare Mulls Debt Restructuring (1)

Medical transportation firm ModivCare Inc. is huddling with lenders about how to potentially restructure its debt load as a loan maturity approaches and as federal health-care funding cuts weigh on its long-term outlook, according to people with knowledge of the matter.

While the company is also exploring sales of some assets and other fixes, a possible Chapter 11 filing is among the options under consideration, said the people, who asked not to be named discussing private deliberations.

ModivCare has roughly $1.4 billion of debt, including a revolving facility that comes due in 2028, according to data compiled by Bloomberg. It ...