On July 13, Evolent announced that we would be acquiring the majority of the Valence Health business. We’re thrilled to announce that the transaction has officially closed as of October 3, and we are really looking forward to welcoming the Valence Health team to the Evolent family. In the meantime, we wanted to shed additional light on this exciting next milestone in Evolent’s history!
Who is Valence Health?
Valence Health is headquartered in Chicago, IL and was founded in 1996 by Philip H. Kamp and Todd R. Stockard. Throughout the company’s 20 year history, Valence Health has developed deep expertise in the Medicaid and pediatric markets. Much like Evolent, Valence Health’s culture is passionate and purpose-driven in their quest to change the way health care is delivered and how providers are incented to care for patients.
Why did we decide to pursue this strategy?
By bringing the Valence Health and Evolent businesses together, we are creating an innovative market leader in value-based care technology and services. As mentioned above, Valence Health has nearly 20 years of operating experience, heavily focused on claims administration for Medicaid plans and pediatric risk populations. The two organizations' customer profile and product portfolio are largely complementary. By joining Valence’s business with Evolent, the combined company is able to offer greater depth and breadth of value-based care solutions to a broader spectrum of providers. We’re thrilled about the future potential of combining and integrating our technologies and operations over time. We truly believe that our combined forces will put us in an ideal position to continue to lead the industry!
What will the combined company look like?
The combined company will have over 2,000 employees, supporting over two million lives across 25 long-term operating partners – comprised of provider-sponsored health plans, accountable care organizations and full-risk entities. Phil Kamp and Todd Stockard, co-founders of Valence Health, will transition to Evolent and assume key leadership positions in the newly combined organization.
What can our partners expect?
Our partners will benefit from this exciting evolution of our company by gaining access to a more robust line up of clinical, technical and operational expertise and solutions that help providers succeed in value-based care at various degrees on the at-risk spectrum. We’re also working hard to ensure that Valence Health employees who transition over to Evolent will maintain their current roles and management structures so that we all will continue to serve all clients in the best manner possible.
Additional questions about the Valence Health acquisition? Contact info@evolenthealth.com and we’ll get back to you soon!
