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 […]
Angiodynamics CFO Frost resigns, moves to Analogic | Personnel Moves
AngioDynamics (NSDQ:ANGO) said today its CFO and exec veep Mark Frost resigned from his position to join Analogic (NSDQ:ALOG) as senior veep, treasurer & CFO. AngioDynamic’s veep and global controller Michael Trimach will serve as Interim CFO as the company searches for a permanent replacement. The Albany, N.Y.-based company said Frost will stay on to facilitate a smooth […]
Haemonetics CEO Concannon steps down | Personnel Moves
Haemonetics (NYSE:HAE) said yesterday its CEO Brian Concannon resigned to pursue other opportunities and will be replaced by board member Ronald Gelbman, who will serve as interim CEO. The company said Concannon will remain with Haemonetics through the end of October to “ensure a seamless transition,” while the board searches for a permanent replacement. “Ron’s intimate […]
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