Investor Relations

Press Release

Press Release

Evolent Health Partner Passport Health Plan is Not Initially Selected for Kentucky Managed Medicaid Contract

Nov 27, 2019

WASHINGTON, Nov. 27, 2019 /PRNewswire/ -- Evolent Health, a company providing an integrated value-based care platform to the nation's leading providers and payers, today announced that its partner Passport Health Plan received notification from the Kentucky Cabinet for Health and Family Services (CHFS) that Passport has not been awarded a Kentucky managed Medicaid contract for the next contract period. The award, which was announced by Governor Bevin's administration, is for the contract term commencing July 1, 2020.

Passport management has indicated its intent to protest the decision. "We firmly believe this decision, if upheld, is detrimental to the health and wellbeing of the residents of the Commonwealth of Kentucky and we fully support Passport's intent to protest this outcome," said Evolent Health Chief Executive Officer Frank Williams.

Passport has provided services to Medicaid beneficiaries in the Commonwealth of Kentucky for more than 22 years and is a recognized leader in providing outstanding service and high quality care to its members. Evolent and Passport formed an initial partnership in 2016 and Evolent currently provides support in health plan operations, clinical programs and specialty care management for Passport's 300,000 members. Earlier in 2019, Evolent agreed to purchase a 70 percent ownership stake in Passport in partnership with University of Louisville and several other provider organizations. That transaction is anticipated to close by the end of the year. Evolent will continue to provide services to Kentucky Medicaid beneficiaries through the existing contract period ending June 30, 2020, independent of the outcome of Passport's protest.

Evolent Health Logo (PRNewsfoto/Evolent Health)

Conference Call and Webcast Details
Evolent will hold a conference call to discuss additional details about this announcement on Wednesday, November 27, 2019, at 11:00 a.m., Eastern Time. The conference call will be available via live webcast on the company's Investor Relations website at http://ir.evolenthealth.com. To participate by telephone, dial 1.855.940.9467 and ask to join to the Evolent call. Participants are advised to dial in at least 15 minutes prior to the call to register. The call will be archived on the company's website for 90 days and will be available beginning later this evening. Evolent invites all interested parties to attend the conference call.

About Evolent Health
Evolent Health partners with leading provider and payer organizations to achieve superior clinical and financial results in value-based care and under full-risk arrangements. With a provider heritage and over 20 years of health plan administration experience, Evolent partners with more than 35 health care organizations to actively manage care across Medicare, Medicaid, commercial and self-funded adult and pediatric populations. With the experience to drive change, Evolent confidently stands by a commitment to achieve results. For more information, visit evolenthealth.com.

Bob East, 443.213.0500, Investor Relations, InvestorRelations@evolenthealth.com; Kim Conquest, 540.435.2095, Media Relations, KConquest@evolenthealth.com

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SOURCE Evolent Health