Evolent Health, Inc. a health care company that delivers proven clinical and administrative solutions to payers and providers, today announced that it has entered a definitive agreement with Bright Health Management, Inc. A nationally recognized health plan owned by Bright Health, to acquire True Health New Mexico, Inc. A wholly-owned subsidiary of Evolent Health.
- The existing services contract between True Health New Mexico and Evolent will be maintained and as such, Evolent will continue to provide health plan administrative and clinical program support to True Health New Mexico. “We are proud of what we have built together with the team at True Health New Mexico,” said Evolent Health Chief Executive Officer Seth Blackley.
- For Evolent, this transaction demonstrates continued execution against, previously stated capital allocation framework and affirms the focus on creating shareholder value through strong organic revenue growth and robust margin expansion in the core services business.
- “We are exceptionally grateful to partners at Evolent for their founding of and ongoing support of True Health New Mexico,” said Dr. Mark Epstein, President, and CEO of True Health New Mexico.
- Once complete, current employees and leadership of True Health New Mexico will join the Bright HealthCare team and continue to lead local market operations, ensuring continuity for members, providers, and distribution partners. The transaction is subject to customary closing conditions and is expected to close during the first half of 2021.
- Evolent Health delivers proven clinical and administrative solutions that improve whole-person health while making health care simpler and more affordable. Evolent serves a national base of leading payers and providers, is the first company to receive the National Committee for Quality Assurance’s Population Health Program Accreditation, and is consistently recognized as a top place to work in health care nationally.