04:17 AM EDT, 08/21/2025 (MT Newswires) -- ModivCare ( MODV ) said late Wednesday it filed for voluntary Chapter 11 protection in a Texas court to implement a restructuring transaction.

More than 90% of first lien lenders and over 70% of second lien lenders agreed to the restructuring deal, with a total of $100 million commitment in debtor-in-possession financing, the healthcare services company said.

ModivCare ( MODV ) expects the restructuring to reduce its total debt obligations by about $1.1 billion.

The company plans to exit the restructuring process early in Q4.