---
schema_version: "secwatch.filing_event.v1"
accession: "0001628908-25-000124"
form_type: "8-K"
ticker: "EVH"
cik: "0001628908"
company_name: "Evolent Health, Inc."
filed_at: "2025-09-23T23:59:59+00:00"
generated_at: "2026-05-17T05:53:04.569903+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Evolent sells value-based primary care business Evolent Care Partners to Privia for up to $113M

## Summary
- ECP acquired by Privia Health Group (PRVA) for $100M cash at close plus up to $13M contingent on 2025 MSSP performance; expected close Q4 2025.
- All net proceeds will prepay senior term debt; transaction is accretive to free cash flow by >$7M/year net of reduced ECP cash generation.
- ECP serves 120,000 members with 1,000+ physicians in Medicare Shared Savings Program; ~$10M current adjusted EBITDA.
- Guides Q3 2025 rev $460-480M and Adj EBITDA $34-42M; FY2025 rev $1.85-1.88B and Adj EBITDA $140-165M excluding ECP.
- CEO says divestiture allows focus on core specialty business and accelerates deleveraging; interest expense reduction ~$10M.

## SEC filing metadata
- accession: 0001628908-25-000124
- form_type: 8-K
- ticker: EVH
- cik: 0001628908
- company_name: Evolent Health, Inc.
- filed_at: 2025-09-23T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1628908/000162890825000124/0001628908-25-000124-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1628908/000162890825000124/evh-20250923.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628908-25-000124
- JSON: https://secwatch.observer/filing/0001628908-25-000124.json
- Plain text: https://secwatch.observer/filing/0001628908-25-000124.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.