WASHINGTON – NOVEMBER 9, 2016 – Evolent Health, Inc. (“Evolent”) completed an acquisition of all of Aldera Holdings, Inc.’s (“Aldera”) business, effective Nov. 1, 2016. Aldera is now a subsidiary of Evolent.
Evolent, which is headquartered in Arlington, VA, was founded in 2011 to support providers in moving to a population health model of care delivery and to successfully manage performance-based payment arrangements.
Aldera, which is based in Lisle, IL, provides back-end benefit administration and claims management processing for several healthcare companies, including Valence Health. Evolent acquired Valence Health on Oct. 3, 2016. The option to purchase Aldera was negotiated as part of the overall Valence negotiations, as a result of Aldera’s strategic value as the primary software provider for the Valence Health TPA platform.
The integration of Evolent’s technology and clinical capabilities with Aldera’s claims management and processing functions and Valence Health’s value-based administration services will allow health plans to more easily manage their entire value-based business within a single, robust solution.
“This is a great day for Aldera,” said Aldera President and CEO Darin LeGrange. “We believe the Aldera Payer Platform is an industry-leading product, and this strengthens that belief. The combined Aldera and Evolent teams will bring a robust, integrated solution to the growing value-based care market. We are excited about what the future brings.”
Integration of the two companies is currently underway. Evolent’s CEO, Frank Williams said, “We are excited about welcoming Aldera’s employees and clients, as well as the long-term potential of an integrated solution for powering providers in their movement to value-based care.”