Evolent Health in talks on sale after attracting interest: Reuters

Investing.comAug 22, 2024 7:12 PM

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Investing.com -- Evolent Health, a healthcare services provider with a market value of $3.3 billion, is in talks with private equity firms and other companies for a potential sale, Reuters reported Thursday, citing people familiar with the matter.

Private equity firms TPG, CD&R and KKR are among those interested in a deal for Evolent.

Health insurer Elevance Health Inc (NYSE:ELV) is also among the bidders and could team up with a private equity firm to table an offer for the healthcare services provider, the sources told Reuters.

Evolent has enlisted the services of a financial adviser to assist with the sale process and has already received initial bids. Sources suggest that a deal could potentially be reached within the next few weeks.

The sources, however, who requested anonymity due to the confidential nature of the discussions, cautioned that there is no guarantee a deal will materialize.

Shares of Evolent Health Inc (NYSE:EVH) jumped 17% in recent trading following the news.

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