Evolent Health (NYSE:EVH) posted third-quarter results yesterday that beat the earnings consensus on Wall Street but missed revenue estimates. The Arlington, Virginia-based company reported profits of $2.1 million, or 2¢ per share, on sales of $352.6 million for the three months ended September 30 on a bottom-line gain over Q3 2021 when it reported $13 […]
Evolent Health
Evolent Health names president; co-founder set to exit
Evolent Health has named Dan McCarthy as president of the company and said co-founder and former CEO Frank Williams will leave the board. McCarthy joined New Century Health — a subsidiary of Arlington, Virginia-based Evolent — in 2014, previously serving as an SVP in partner development and chief growth officer. He has been New Century […]
Evolent Health prices $150m convertible debt offering
Evolent Health (NYSE:EVH) yesterday priced an upcoming $150 million convertible debt offering. The Arlington, Va.-based company said it plans to offer 1.5% convertible senior notes due 2025 in the offering, with a 30-day option to initial purchasers to acquire an additional $22.5 million aggregate principal amount of notes. Interest on the notes is payable semiannually in […]
Value-based healthcare: Evolent closes $10m deal for New Mexico Health Connections assets
Evolent Health (NYSE:EVH) said yesterday it completed its acquisition of commercial business assets from New Mexico Health Connections for approximately $10.3 million in cash. Assets purchased in the deal included a commercial plan and health plan management services organization which will be operate under the newly formed entity True Health New Mexico, a wholly-owned subsidiary of Washington […]
Evolent Health raises $167m
Evolent Health (NYSE:EVH) said yesterday that it raised nearly $167 million in a secondary offering, saying it could use some of the proceeds on the M&A trail. The Arlington, Va.-based value-based healthcare company said it sold more than 8.8 million shares at $19.85 apiece, for net proceeds of roughly $166.8 million. “Evolent Health expects to use […]
Evolent Health shares tumble on Q2 EPS miss
Shares in Evolent Health (NYSE:EVH) have dropped over 15% today after the value-based healthcare company beat sales expectations but missed earnings per share consensus on Wall Street with its 2nd quarter earnings results. The Washington D.C.-based company posted losses of $16.9 million, or 28¢ per share, on sales of $107.1 million for the 3 months ended […]
Value-based healthcare: Evolent, Advisory Board mull merger
Evolent Health (NYSE:EVH) and the Advisory Board Co. (NSDQ:ABCO), which helped launch Evolent in 2011, are contemplating a merger, “people familiar with the matter” told Reuters. Evolent, which makes software for hospitals moving from fee-for-service to an outcomes-based business model, was founded in 2011 by its top 2 investors, the University of Pittsburgh Medical Center Advisory Board Co., a healthcare research firm. […]
Evolent closes Valence buyout, adding $74m to price
Evolent Health (NYSE:EVH) said this week that it closed its acquisition of value-based administration, population health and advisory services provider Valence Health – but spent a lot more than the original $145 million it put on the table. Evolent agreed in July to pay $35 million in cash and 5.84 million in EVH shares, which closed at $18.68 apiece the day […]
Evolent prices upsized $170m secondary offering
Evolent Health (NYSE:EVH) today released pricing for an upcoming secondary offering round, increasing the number of shares it is looking to float from 7 million to 7.5 million, now looking to bring in approximately $168.8 million. The company said it plans to offer 7.5 million shares of its Class I common stock at $22.50 per share, with […]
Value-based healthcare: Evolent Health to pay $145m for Valence Health
Evolent Health (NYSE:EVH) said today that it agreed to put up roughly $145 million to acquire value-based administration, population health and advisory services provider Valence Health. The deal calls for Evolent, which took itself public in a $195.5 million offering last year, to pay $35 million in cash and another 5.84 million in EVH shares, which closed […]
J-Pac names new CFO, ops VP | Personnel Moves
J-Pac Medical said it named former GI Supply finance chief Michael Dolge to be its new CFO and tapped Phil Littlefield, a medtech veteran, to be its vice president of operations. Somersworth, N.H.-based J-Pac, which makes implantable textiles and offers packaging and manufacturing services to the medical device industry, said Dolge’s resume includes stints at […]
