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 (NYSE: EVH) has announced a definitive agreement with Bright HealthCare to acquire True Health New Mexico, a wholly-owned subsidiary of Evolent. The transaction, expected to close in the first half of 2021, aims to enhance Evolent's operational framework, while continuing to provide health plan support to True Health New Mexico. Evolent's CEO, Seth Blackley, highlighted the focus on creating shareholder value through organic revenue growth and margin expansion. Current employees of True Health New Mexico will join Bright HealthCare, ensuring continuity in market operations.
Evolent Health (NYSE: EVH) announced a Cooperation Agreement with Engaged Capital, appointing Craig Barbarosh to its Board of Directors as a Class III director. A Strategy Committee will be created to enhance operational efficiency and financial performance. Evolent also plans to amend its Charter to declassify the Board, allowing directors to stand for one-year terms post-2021 Annual Meeting. Engaged Capital emphasizes its commitment to maximizing shareholder value. This move aims to strengthen governance and strategic direction for Evolent's future.
Evolent Health (NYSE: EVH) announced participation in the 39th Annual J.P. Morgan Healthcare Conference on January 13, 2021. CEO Seth Blackley and CFO John Johnson will present virtually at 9:10 a.m. ET. A live audio-only webcast will be accessible via Evolent's investor relations page.
Evolent Health provides clinical and administrative solutions that enhance health care efficiency and affordability, serving leading payers and providers nationwide. The company has received national recognition for its population health programs and work environment.
Evolent Health, a leading health care solutions provider, announced that CEO Seth Blackley and CFO John Johnson will participate in 1x1 meetings at the 32nd Annual Piper Sandler Healthcare Conference on December 2, 2020. Meetings can be arranged through Piper Sandler. Evolent focuses on improving health care affordability and delivery with a range of services, including total cost of care management. The company has received national recognition for its innovative approach and workplace environment.
Evolent Health (NYSE: EVH) has partnered with Florida Blue Medicare to provide comprehensive oncology specialty management services through its subsidiary, New Century Health. This collaboration aims to manage the cost and quality of oncology care for 125,000 Medicare Advantage members across Florida's network of 1,000 physicians in 67 counties. The initiative focuses on evidence-based clinical pathways and aligned payment models to enhance patient outcomes and reduce costs. Full health plan operations are set to begin on January 1, 2021.
Evolent Health (NYSE: EVH) reported its Q3 2020 results with a revenue of $264.6 million, marking a 20.2% year-over-year increase. Despite the revenue growth, the company faced a net loss of $(37.3) million. Adjusted EBITDA improved to $12.7 million from $3.3 million in Q3 2019. The company announced new partnerships and completed the Passport Health Plan asset sale, enhancing operational efficiencies. Evolent has a cash position of $387 million as of September 30, 2020, and aims to optimize capital allocation for long-term shareholder value.
Evolent Health (NYSE: EVH) will release its third quarter 2020 operating results on November 5, 2020, after market close. Following the release, a conference call will be held at 5:00 p.m. Eastern Time. Investors can join the call by dialing 855.940.9467 or 412.317.6034 for international participants. The call will include details about Evolent's clinical and administrative solutions aimed at enhancing health care affordability and quality. An audio replay will be available on Evolent's investor relations website for one week post-call.
Evolent Health (NYSE: EVH) hosted a virtual Investor and Analyst Day on September 29, 2020, presenting its strategy to enhance shareholder value and operational updates. The Company targets approximately 30% year-over-year adjusted services revenue growth for 2020 and aims for mid-teens annual growth in the medium term. Key announcements include partnerships with Physicians Accountable Care of Utah and Tar River Health Alliance, cost-cutting measures targeting $20-25M in SG&A expenses for 2021, and a focus on achieving a mid-teens Adjusted EBITDA margin. Adjusted Revenue guidance for Q3 2020 is set between $258M-272M.
Evolent Health (NYSE: EVH) will hold its annual Investor and Analyst Day on September 29, 2020, from 10:00 a.m. ET to 12:30 p.m. ET virtually. Interested participants can register and find the live webcast on the company's investor relations website. A replay will also be available post-event. Evolent Health specializes in clinical and administrative solutions to enhance health care affordability and simplicity, serving a diverse range of payers and providers nationwide. The company is recognized for its innovative approaches and quality health solutions.
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