secwatch.observer — SEC 8-K summary
======================================

Issuer:     Evolent Health, Inc. (EVH)
CIK:        0001628908
Form:       8-K
Filed at:   2025-09-23T23:59:59+00:00
Accession:  0001628908-25-000124
Event type: m_and_a
Sentiment:  positive
Materiality: 0.70
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1628908/000162890825000124/0001628908-25-000124-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1628908/000162890825000124/evh-20250923.htm
  HTML page:      https://secwatch.observer/filing/0001628908-25-000124

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer