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Evolent Health completes acquisition of Valence Health

Arlington, Va.-based Evolent Health, which assists healthcare companies in transitioning to value-based care, completed its $219.4 million acquisition of Chicago-based Valence Health, according to the Washington Business Journal.

The two organizations first announced the acquisition in July.

Evolent officials initially predicted the deal would cost approximately $145 million. Officials said the final number is based on the closing price of Evolent's stock, which traded at more than $24 per share on Tuesday when the deal was finalized.

According to the agreement, Evolent will acquire the majority of Valence, apart from its contracts serving state insurance co-ops. Those shares will be transferred to a separate entity owned by Valence shareholders, according to the article.

Evolent officials expect Valence to generate revenues between $80 and $85 million in 2016, according to the article.

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