Evolent Health, Inc. completed the acquisition of selected assets related to commercial business from New Mexico Health Connections.
January 01, 2018
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Evolent Health, Inc. (NYSE:EVH) entered into an agreement to acquire selected assets related to commercial business from New Mexico Health Connections for $10.3 million on September 25, 2017. The consideration was paid in cash. Consideration for the transaction will include an initial cash payment of $10 million, with a further $0.3 million to be held in escrow. The assets include a health plan management services organization with a tenured leadership team and employee base with extensive experience working locally with providers to run NMHC’s suite of preventive, disease and care management programs. The assets will be contributed to a new entity, True Health New Mexico, Inc., which will be a wholly-owned subsidiary of Evolent Health. Martin Hickey who is currently the Chief Executive Officer of New Mexico Health will become the Chief Executive Officer of True Health and employees of New Mexico Health will become employees of the new firm. The transaction is subject to customary closing conditions including approval by the New Mexico Office of Superintendent of Insurance. As of December 20, 2017, the transaction got approved by Office of Superintendent of Insurance. The transaction is expected to close on December 31, 2017. Angela Humphreys, Ryan M. Richards, Craig R. Turner and Price W. Wilson of Bass, Berry & Sims PLC represented Evolent Health in the transaction.
Evolent Health, Inc. (NYSE:EVH) completed the acquisition of selected assets related to commercial business from New Mexico Health Connections on January 2, 2018. Stephanie Marcantonio, Bill Mills, Paul Mourning, David Teigman, Linda Swartz, Jean Bertrand and Dorothy Auth from Cadwalader, Wickersham & Taft LLP served as a legal advisor for New Mexico Health Connections.
Evolent Health, Inc. is a health care company connecting care for people with complex conditions like cancer, cardiovascular disease, and musculoskeletal diagnoses. The Company offers three primary solutions: specialty care management services, total cost of care management and administrative services. It provides comprehensive quality management for oncology and cardiology patients from diagnosis through advance care planning services as well as identifying quality, lowest cost of care for outpatient orthopedic surgeries. Its total cost of care management solution enables providers to manage populations they may be accountable for under value-based contracts with payers or accountable care organizations (ACO) contracts with Centers for Medicare and Medicaid Services (CMS). Its administrative services solution includes integrated value-based care platform designed to help customers manage and administer patient health in a cost-effective manner.
EVOLENT HEALTH, INC. 
