Evolent Health seeking potential private equity buyout, sources claim
Evolent Health, a publicly traded company that helps payers and providers develop value-based care plans, is in talks to be acquired by private equity firms, according to reporters from Reuters citing “people familiar with the matter.”
Interested private equity firms include TPG, KKR and Clayton, and Dubilier & Rice (CD&R), according to reporters. Insurer Elevance is among the bidders, but it could “team up” with interested private equity buyers for a minority stake. All have submitted initial bids to acquire Evolent, reporters said. Evolent is currently working with financial advisors and has been entertaining a buyout for months. A final deal could be reached in a matter of weeks; however, the sources cited by Reuters warned it’s still possible everything could fall through.
Evolent was founded in 2011 by UPMC Health Plan before spinning off as an independent company. Other companies have previously tried to purchase Evolent, including pharmacy chain Walgreens. That deal reportedly fell through in 2021.
For more details, read the full exclusive from Reuters at the link below.
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