Brief: Evolent Health Announces Acquisition Of Specialty Asset NIA And Partnership With Centene

Evolent Health

17/11/2022 22:20

Nov 17 (Reuters) - Centene Corp  CNC.N :
    * EVOLENT HEALTH ANNOUNCES ACQUISITION OF SPECIALTY ASSET
NIA AND
STRATEGIC PARTNERSHIP WITH CENTENE
    * EVOLENT HEALTH INC- TRANSACTION ANTICIPATED TO BE
IMMEDIATELY
ACCRETIVE TO ADJUSTED EBITDA MARGINS AND CASH FLOW
    * EVOLENT HEALTH INC- BELIEVE EXPANSIONS WILL GENERATE AT
LEAST
$20 MILLION OF ADJUSTED EBITDA BY Q4 OF 2024
    * EVOLENT-IN ADDITION TO NIA ACQUISITION,CO & CENTENE ARE
EXPANDING CENTENE'S RELATIONSHIP WITH NIA, EXTENDING NIA'S
CONTRACTS WITH CENTENE THROUGH 2027
    * EVOLENT HEALTH INC- WILL ACQUIRE NIA FROM CENTENE FOR $650
MILLION OF UPFRONT CONSIDERATION
    * EVOLENT HEALTH INC- COMPANY EXPECTS TO FUND $400 MILLION
OF
PURCHASE PRICE IN CASH
    * EVOLENT HEALTH INC - ANTICIPATES 2023 REPORTED REVENUE
GROWTH TO
EXCEED 25% BEFORE ANY IMPACT FROM NIA

Source text for Eikon:  ID:nPn9x2Znda 
Further company coverage:  CNC.N 
 ((Reuters.Briefs@thomsonreuters.com;))