Evolent Health

Evolent Health is a healthcare technology company that provides integrated information technology solutions and services to enable value-based care delivery. It empowers healthcare organizations, such as integrated physician associations (IPAs), healthcare providers, management services organizations (MSOs), and managed care organizations (MCOs), to transition from volume-based to value-based care models. Evolent's offerings include data warehousing, analytics, and solutions that facilitate proactive management of patients' health. The company's goal is to help its clients achieve the triple aim of healthcare: improving population health, enhancing the healthcare experience, and managing the cost of care.

Evolent Health's solutions encompass total cost of care management, specialty care management, and administrative simplification. Its product offerings are organized into three suites: Performance Suite, Specialty Technology and Services Suite, and Administrative Services platform. As of March 2023, the company managed 3.2 million lives on its Performance Suite, with an average per member per month (PMPM) fee of USD 24.66, and 60.5 million lives on its Specialty Technology and Services Suite, with an average PMPM of USD 0.36. Additionally, it managed 1.9 million lives on its Administrative Services platform, with an average PMPM of USD 14.91.

In the first quarter of 2023, Evolent Health reported revenue of USD 427.7 million, representing a 44% increase compared to the same period in 2022. The company's net loss attributable to common shareholders was USD 26.3 million, resulting in a net loss margin of 6.1%. Its Adjusted EBITDA for the quarter was USD 50.5 million, with an Adjusted EBITDA margin of 11.8%.

In January 2023, Evolent Health acquired National Imaging Associates (NIA), expanding its capabilities in specialty value-based care. The integration of NIA is proceeding as anticipated.