Arlington-based Evolent Health Inc. is considering a merger with D.C.-based health and education consultancy The Advisory Board Co., Reuters reported Friday.
Evolent Health (NYSE: EVH), which specializes in helping health care systems improve their business models, was founded in 2011 by a partnership of the Advisory Board and UPMC Health Plan. It is led by former Advisory Board CEO Frank Williams.
According to the Reuters report, Evolent has held talks with private equity firms about getting financial backing for an offer. Advisory Board (NASDAQ: ABCO) has also attracted the interest of health care data company Press Ganey Associates Inc. and plans to continue discussions with bidders in the coming weeks, Reuters reported.
The Advisory Board revealed in February it is working with financial advisers to explore changes to the company to help boost shareholder value, including a potential sale of part or all of the business. It has tapped Goldman Sachs & Co. and Allen & Co. LLC as it…
