Evolent Health Engages in Potential Sale Talks

Evolent Health is currently in discussions with private equity firms and other companies regarding a potential sale following unsolicited interest. Potential buyers include private equity firms TPG, CD&R, and KKR, as well as Elevance Health. The process is ongoing with initial bids received, although a deal is not guaranteed.

Evolent Health is reportedly exploring a potential sale, engaging in talks with private equity firms and other interested parties, according to sources familiar with the matter who disclosed the information Thursday. This move follows after the healthcare services provider received unsolicited interest from multiple entities.

The firms expressing interest include major private equity players TPG, CD&R, and KKR, all vying for a deal with Evolent, which holds a market value of $3.3 billion. Health insurer Elevance Health is also among the bidders and may join forces with a private equity firm to facilitate the acquisition, sources revealed.

While Evolent collaborates with a financial adviser in managing the sale process, initial bids have already been submitted. Despite this progress, sources cautioned that no deal is final and the negotiations could falter, with confidentiality being emphasized due to the nature of the discussions.

(With inputs from agencies.)