Evolent Health, Inc. and Valence Health, Inc. announced that they have entered into a definitive agreement for Evolent to acquire the majority of Valence Health’s business for approximately $145 million.
According to a press release, Evolent was founded in 2011 to support providers in moving to a population health model of care delivery and to manage performance-based payment arrangements. Valence Health, based in Chicago, Ill., was founded in 1996 and provides value-based administration, population health and advisory services. Valence Health supports approximately 600,000 lives across 10 long-term operating partners.
“By adding Valence Health’s services to Evolent, we expect to strengthen our operational capabilities and expertise, expanding our ability to support provider organizations in delivering higher quality, lower cost care,” said Evolent CEO Frank Williams. “Strategically, we have tightly aligned visions of improving health care through innovative technology and services that help providers succeed as the industry continues its adoption of value-based payment models. Practically, we expect the addition of Valence Health’s talented team and their experience in value-based administration will advance our ability to drive results for a broader set of clients, providers and patients. We are looking forward to welcoming Valence Health employees and clients to the Evolent team.”