Arlington-based Evolent Health Inc. to acquire Massachusetts company
Arlington-based Evolent Health Inc. plans to acquire Massachusetts-based New Century Health for up to $217 million.
Evolent said the deal would combine two companies that support provider organizations and health plans with clinical management and operational capabilities.
The combined company would serve more than 3.5 million patients through more than 40 long-term customers.
The purchase price is up to $217 million. The offer includes 3.1 million shares of Evolent Class B common stock and $120 million in cash at closing.
Founded in 2011, Evolent support health-care providers in moving to a population-health model of care delivery and manage performance-based payment arrangements.
Founded in 2002, New Century Health is a specialty care management company focused primarily on cancer and cardiac care. Utilizing its proprietary technology platform.
New Century Health manages approximately 462,000 Medicare Advantage lives under performance-based arrangements and provides administrative services to several partner organizations.