Evolent Health in sale talks after inbound interest, sources say (updated)

Evolent Health

22/08/2024 18:24

(Updating to reach wider audience)
    By Milana Vinn and Anirban Sen
       Aug 22 (Reuters) - Evolent Health  EVH.N  is in talks
with private equity firms and other companies for a potential
sale, in a process that kicked off after the healthcare services
provider received inbound interest, people familiar with the
matter said on Thursday. 
    Private equity firms TPG  TPG.O , CD&R and KKR  KKR.N  are
among the parties that have expressed interest in a deal for
Evolent, which has a market value of $3.3 billion, the sources
said. TPG was one of the early investors in Evolent. 
    Health insurer Elevance Health  ELV.N  is also among the
bidders and could team up with a private equity firm to acquire
Evolent, the sources added. 
    Evolent, TPG, CD&R, KKR and Elevance did not immediately
respond to requests for comment. 
    Evolent, which is working with a financial adviser on the
sale process, has received initial bids, the sources said. They
added that a deal could be reached in the next few weeks.
    The sources, who requested anonymity as the discussions are
confidential, cautioned that a deal may not materialize. 
    

 (Reporting by Milana Vinn and Anirban Sen in New York; Editing
by Paritosh Bansal)
 ((paritosh.bansal@thomsonreuters.com;))