Evolent Health acquires Machinify assets for $25M cash plus up to $7M earn-out

Evolent Health, Inc.

Cash consideration of $25M plus up to $7M earn-out; perpetual royalty-free license of Machinify Auth AI platform.
Acquisition expected to close Q3 2024; includes re-badging certain Machinify employees and multi-year services agreement.
Machinify Auth currently reviews over $200B in medical claims annually; reduces clinician time by avg 55% for complex reviews.
Acquisition is immaterial to Evolent's revenue outlook and neutral to Adjusted EBITDA in first year after closing.

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