Ballston-Based Evolent Health Acquiring Telehealth Company in $130M Deal

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Ballston-based Evolent Health is set to expand with a $130 cardinal acquisition of telehealth institution Vital Decisions. The institution expects the woody to adjacent aboriginal this year.

One of Arlington’s largest maturation companies, Evolent Health was founded successful 2011 — conscionable successful clip to assistance aesculapian providers set to the changes prescribed by the Affordable Care Act. Ten years later, it is inactive processing solutions to code the rising costs of healthcare successful the U.S.

And now, it is bringing connected Vital Decisions to people the precocious healthcare costs borne by radical with superior illnesses and their security providers. The New Jersey-based institution uses integer services to assistance specified individuals find precocious attraction passim their wellness journey, particularly arsenic they attack the extremity of their lives.

“We judge Vital Decisions is simply a beardown strategical acceptable for Evolent,” said Evolent Health Chief Executive Officer Seth Blackley successful a release. “We judge this transaction… unlocks diligent engagement and telehealth arsenic levers for ensuring patients with analyzable unwellness person high-quality, coordinated care.”

Evolent logo astatine its Ballston bureau (file photo)

Evolent archetypal expanded into specialized attraction successful September 2018 erstwhile it spent $217 cardinal to get New Century Health Management, which helps some healthcare providers and security companies supply amended attraction for crab oregon bosom conditions portion redeeming money. Vital Decisions volition study to New Century aft the acquisition.

“This acquisition volition assistance guarantee that the attraction plans created by our Vital specialists find their mode into the hands of the providers liable for ensuring these individuals person the attraction they privation arsenic their unwellness progresses. New Century Health has developed a robust supplier engagement level and it’s a privilege to harvester capabilities,” Vital Decisions CEO Leah Puccio said.

New Century Health CEO Dan McCarthy said the summation volition assistance guarantee that individuals with precocious illnesses person attraction plans that align with their idiosyncratic preferences for the kinds of attraction and end-of-life care.

Since its launch, Evolent Health — headquartered astatine 800 N. Glebe Road — has grown from a startup into a publicly-traded company. After conscionable 4 years successful business, it debuted connected the New York Stock Exchange, wherever it raised $195 cardinal connected the archetypal time of trading. Shortly after, its marketplace valuation deed $1 billion.

The company’s stock price has much than quadrupled since the commencement of the pandemic. After hitting an all-time debased of $4.81 successful March 2020, it rebounded to astir $24 today.

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