Welcome to our dedicated page for Evolent Health news (Ticker: EVH), a resource for investors and traders seeking the latest updates and insights on Evolent Health stock.
Evolent Health, Inc. (NYSE: EVH) plays a pivotal role in the healthcare sector by supporting health systems and physician organizations in their transition to value-based care and population health management. Headquartered in Arlington, Virginia, Evolent is backed by major entities such as The Advisory Board Company, University of Pittsburgh Medical Center Health Plan, and TPG Growth. The company’s core business revolves around providing integrated specialty care management services, total cost of care management, and health plan administration through an all-inclusive platform.
Evolent specializes in managing complex conditions in fields such as oncology, cardiology, and musculoskeletal markets, aiming to simplify healthcare and make it more affordable. The company's recent achievements include exceeding profitability expectations in the third quarter of 2023, adding new operating partnerships, and enhancing its financial outlook for the year. Evolent reported robust financial health with $184.5 million in cash and cash equivalents as of September 30, 2023.
The company’s culture is centered around collaboration, innovation, and a supportive work environment. Benefits like treadmill desks, healthy snacks, and wellness challenges underscore its commitment to employee well-being.
Notably, Evolent is also venturing into AI-driven healthcare solutions, as evidenced by its recent agreement to acquire Machinify Auth, a software platform that enhances clinical quality through advanced AI. This acquisition is expected to significantly improve the speed and efficiency of clinical reviews for various conditions.
In summary, Evolent Health continues to be a significant player in the healthcare industry, driving better health outcomes and financial performance through innovative solutions.
Evolent Health, Inc. (NYSE: EVH) announced participation in investor conferences featuring CEO Seth Blackley, CFO John Johnson, and VP Seth Frank. Key events include the Piper Sandler 34th Annual Healthcare Conference on November 30, 2022, at 10:30 a.m. ET and the 41st Annual J.P. Morgan Healthcare Conference on January 11, 2023, at 4:30 p.m. ET. A live audio webcast will be available on Evolent's Investor Relations website. Evolent Health focuses on improving healthcare delivery through clinical and administrative solutions.
Evolent Health announced its agreement to acquire NIA, a specialty benefit management organization owned by Centene, for $650 million. The acquisition, set to close in mid-2023, is expected to add $85 million in adjusted EBITDA by 2024 and enhance Evolent’s value-based specialty care leadership. The deal diversifies Evolent's revenue base and increases cross-selling opportunities from $16 billion to $50 billion. The NIA acquisition will maintain Evolent's strong balance sheet and is projected to immediately improve cash flow and adjusted EBITDA margins.
Evolent Health, Inc. (EVH) reported a robust third quarter for 2022, generating $352.6 million in revenue, a 58.5% increase year-over-year. The company achieved a net income of $2.1 million with a margin of 0.6%, alongside an Adjusted EBITDA of $28.1 million and an 8.0% margin. Total lives on the platform reached 19.5 million. Evolent's new partnerships and acquisitions reflect sustained growth and innovation. For Q4 2022, revenue is projected between $361.0 million and $381.0 million, with full-year revenue guidance of $1.33 billion to $1.35 billion.
Evolent Health, Inc. (NYSE: EVH) has announced it will release its third quarter 2022 operating results on November 2, 2022, after market close. A conference call will follow at 5:00 p.m. Eastern Time. Interested parties can join the call by dialing 855.940.9467 or 412.317.6034 for international access. An audio playback will be available on Evolent's investor relations website for 90 days post-call. Evolent Health focuses on delivering clinical and administrative solutions to improve healthcare efficiency and affordability.
Evolent Health (NYSE: EVH) announced participation in several investor conferences. CFO John Johnson and VP Investor Relations Seth Frank will present at the Wells Fargo Healthcare Conference on September 9, 2022, at 10:25 a.m. ET in Everett, MA. They will also conduct meetings at the Baird 2022 Global Healthcare Conference on September 13, 2022. Additionally, Frank will take part in the BofA Securities 2022 Healthcare Innovation Forum on September 29, 2022, with further details to be shared on the company's Investor Relations website. Webcast links will be available online.
Evolent Health (NYSE: EVH) announced Dan McCarthy's appointment as President, effective September 15, 2022. McCarthy, formerly CEO of New Century Health, will lead value-based specialty operations and oversee the integration of recent acquisitions into Evolent's platform. Frank J. Williams, co-founder and former CEO, will not seek re-election to the Board in June 2023. Both leaders emphasize a commitment to a seamless transition and continued growth.
Evolent Health, Inc. (NYSE: EVH) will participate in the Canaccord Genuity 42nd Annual Growth Conference on August 10, 2022, at 4:30 p.m. ET. CEO Seth Blackley and VP of Investor Relations Seth Frank will lead investor meetings and present at the event held in Boston, Massachusetts.
A live audio webcast will be accessible on Evolent's Investor Relations website.
Evolent Health provides clinical solutions aimed at improving health care delivery.
Evolent Health, Inc. (EVH) reported Q2 2022 revenue of $319.9 million, a 44.1% increase year-over-year. The net loss was $4.6 million, improving from a $9.1 million loss in Q2 2021. Adjusted EBITDA reached $21.7 million, reflecting a margin of 6.8%. The company added 10 new operating partnerships in 2022, exceeding its goal. Total Lives on Platform reached 21.9 million. For Q3, revenue guidance is set between $343.0 million and $363.0 million. Full-year revenue is projected to be $1.32 billion to $1.36 billion.
Evolent Health (NYSE: EVH) will report its second quarter 2022 operating results on August 2, 2022, post-market. A conference call is scheduled at 5:00 p.m. Eastern Time where interested parties can join by calling 855.940.9467 or 412.317.6034. An audio replay will be accessible on the company’s investor relations website for 90 days. Evolent Health is known for its clinical and administrative solutions aimed at improving health care affordability and efficiency, and serves a national client base among leading payers and providers.
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