By Milana Vinn, Anirban Sen
London: Evolent Health is currently in talks with private equity firms and other companies about a possible sale. The process began after the healthcare provider expressed interest, people familiar with the matter said on Thursday.
Private equity firms TPG, CD&R and KKR are among the parties that have expressed interest in a deal with Evolent, which has a market value of $3.3 billion, the sources said. TPG was one of Evolent’s early investors.
Health insurer Elevance Health is also among the bidders and could team up with a private equity firm to acquire Evolent, the sources added.
Evolent, TPG, CD&R, KKR and Elevance did not immediately respond to requests for comment.
Evolent, which is working with a financial adviser in the sale process, has received initial bids, the sources said, adding that a deal could be reached in the next few weeks.
The sources, who asked not to be identified because the talks are confidential, warned that a deal may not be reached.
(Reporting by Milana Vinn and Anirban Sen in New York; Editing by Paritosh Bansal)
