Evolent Health's Potential Sale Attracts Key Interest from Equity Firms and Health Insurers
Evolent Health is reportedly in discussions with private equity firms and healthcare service providers about a potential sale. Companies like TPG, CD&R, and KKR have shown interest, as well as health insurer Elevance Health. Evolent's shares surged on the news, despite previous market declines.
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Evolent Health is reportedly engaging with private equity firms and healthcare service providers regarding a potential sale, following takeover interest, according to sources familiar with the situation.
Private equity firms TPG, CD&R, and KKR, along with health insurer Elevance Health, are among the interested parties. Evolent's shares soared over 18% upon the news, despite a earlier decrease since the beginning of the year.
The sale process, in collaboration with a financial adviser, received initial bids and may conclude within weeks, although sources cautioned that a deal isn't certain. Founded in 2011, Evolent provides software to help healthcare providers transition to value-based care models and has seen significant revenue growth amid fluctuating market expectations.
(With inputs from agencies.)
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