Stock Alert: Evolent Health Gains 17%

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(RTTNews) – Shares of medical and administrative options supplier Evolent Well being, Inc. (EVH) are rising greater than 17% Friday morning after the corporate stated Molina Healthcare, Inc. has agreed to purchase sure belongings of Passport Well being Plan, owned majority by Evolent. Molina Healthcare will purchase Passport’s model, operational and medical infrastructure, and sure supplier and vendor agreements.

Evolent Well being stated it’s going to present complete companies to the plan by way of the top of the 12 months beneath the prevailing phrases of its companies contract with Passport.

As well as, Molina and Evolent have entered into an settlement for Evolent to supply specialty care administration companies for cardiovascular care in Kentucky starting in 2021.

The businesses have additionally agreed for the sale of Passport’s actual property holdings to Molina.

Evolent Well being inventory is at the moment buying and selling at $9.95. It has traded within the vary of $3.50- $12.01 prior to now 52 weeks.

The views and opinions expressed herein are the views and opinions of the creator and don’t essentially replicate these of Nasdaq, Inc.

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