Evolent Health, Inc., a managed care company, announced it acquired IPG, a provider of surgical cost management solutions, for $375 million. The seller was TPG Growth.
Founded in 2011, Evolent Health is based in Arlington, Virginia, and provides an integrated, value-based care platform to health systems and physician organizations nationwide.
IPG works with health plans, providers, surgical facilities, device manufacturers and patients to improve quality and reduce costs for surgical procedures through optimization of care and device selection. It was founded in 2004 and is based in Alpharetta, Georgia.
The acquisition of IPG will expand Evolent’s specialty portfolio, add new customers and increase its commercial insurance revenue mix. The IPG team and platform will be integrated into Evolent’s subsidiary, New Century Health. In addition to the $375 million all-cash offer, a contingent consideration of up to $87 million may be paid based on future performance milestones for IPG.
According to the LevinPro HC. Database, this deal was the 191st eHealth deal of the year, 37 of which are analytics deals. Of those 37 deals, 18 of them were done by private equity firms and/or their portfolio companies. The largest analytics deal of the year, so far, is 8i Acquisition purchasing EUDA Health Limited for $583 million. For more information about the eHealth sector and analytics space, visit LevinPro.
