Evolent Health (EVH) said late Tuesday it has agreed to sell its primary care business, Evolent Care Partners, to Privia Health Group (PRVA) for up to $113 million.
The company said it will receive $100 million at closing and the balance in fall 2026 based on the Medicare Shared Savings Program performance for 2025.
Evolent said proceeds will be used to prepay its senior term debt. It expects to close the deal in Q4.
The firm also reiterated its guidance for Q3 and the full year for revenue and adjusted EBITDA, excluding the effect of the deal.