Evergreen Health’s For-Profit Bid Withers

Evergreen Health’s For-Profit Bid Withers

by | Jul 28, 2017 3:01 pm | Managed Care, Private Equity

The Managed Care sector went two steps forward, then one step back in July. Two deals were announced in the span of two days, and as the month neared a close, another deal was terminated, leaving this year’s total at a sluggish 10 deals. Back in May 2017, we reported on Evergreen Health’s journey to become a for-profit, provider-sponsored plan in Maryland. The company was birthed as an insurance co-op under the Affordable Care Act and has struggled to survive since. In October 2016, Evergreen put itself up for sale as a result of unprofitability and growing indebtedness to the Center for Medicare and Medicaid Services. Then, on May 2, a group of investors agreed to buy the company, which... Read More »

Evergreen Health Goes For-Profit

by | May 3, 2017 5:33 pm | Managed Care

Evergreen Health is living up to its name. Uncertainty in the Managed Care sector has weighed heavily on investors in 2017, with just six deals announced in the first four months. The blocked mega-mergers, coupled with the uncertain replacement of the Affordable Care Act (ACA), has created an unfriendly environment for deal making. And now, the latest deal in this sector may signal the demise of the health care co-ops established under the ACA. On May 2, not-for-profit Evergreen Health announced that it was being acquired by a group of investors in Maryland, which included JARS Health Investments, Anne Arundel Health System and LifeBridge Health, for an undisclosed price. The deal was... Read More »