Evolent Health, Inc · NYSE:EVH
Evolent Health — Merger or Acquisition (July 2020)
11 slides from Evolent Health's merger presentation, Jul 17, 2020
Slide 1: Passport Health Plan Update July 17, 2020
Passport Health Plan Update July 17, 2020 0 Confidential – Do Not Distribute
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended (the “PSLRA”), including, but not limited to, statements regarding the consummation of the transactions, the expected timing ther
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures In addition to disclosing financial results that are determined in accordance with GAAP, we present and discuss Adjusted Revenue and Adjusted EBITDA, which are all non-GAAP financial measures, as supplemental measures to help investors evaluate our fundamental operational
Slide 4: Closing Conditions
Closing Conditions The transaction discussed on this conference call presentation is subject to closing conditions, including regulatory approval. 3 Confidential – Do Not Distribute
Slide 5: Executive Summary
Executive Summary •1 Molina and Passport Health Plan have entered into a definitive agreement for Molina to acquire certain assets of Passport. The transaction is expected to close before the end of 2020. • Evolent will continue to provide comprehensive services to the plan through the end of the ye
Slide 6: Transaction Summary
1 Transaction Summary • Passport Health Plan and Molina Healthcare, Inc. have entered into a definitive agreement under which Molina will acquire certain assets from Passport, including Passport’s brand, operational and clinical infrastructure, and certain provider and vendor agreements. The parties
Slide 7: Passport's Performance and Reputation Made it an Attractive Entry Point for Molina
2 Passport’s Performance and Reputation with Consumers Made it an Attractive Entry Point into the Kentucky Medicaid Market for Molina ✓ Clinical Approach and Impact: Plan’s unique clinical approach to population health and specialty care management important to successfully engaging the most vulnera
Slide 8: Protecting Members, Jobs and the Local Community
3 Protecting Members, Jobs and the Local Community Helps provide continuity of care and limits disruption of Medicaid service for Passport Members members during the COVID pandemic, while also maintaining the Passport brand Provides jobs for hundreds of Passport and Evolent employees Employees who s
Slide 9: Financial Highlights
4 Financial Highlights • Molina is acquiring certain assets up-front for $20M and paying a performance fee of up to $40M based on membership retention by Molina at the beginning of 2021. • Evolent will retain statutory capital after meeting claims obligations for 2020. Based on Passport’s forecast a
Slide 10: Update on Evolent 2020 Outlook
Update on Evolent 2020 Outlook • For Q2, we expect to be around the midpoint of our previously stated Adjusted Revenue range, and slightly above our previously stated range for Adjusted EBITDA. • For full year 2020, we expect to be slightly above our previously stated guidance range for Adjusted Rev
Slide 11: N Glebe Rd, Suite • Arlington, VA 22203 • evolenthealth.com
10 Confidential – Do Not Distribute 800 N Glebe Rd, Suite 500 • Arlington, VA 22203 • evolenthealth.com