Privia Health to acquire the primary care business from Evolent Health for $113m.

Privia Health, a national physician platform, agreed to acquire the primary care business from Evolent Health, a health care company, for $113m. "This strategic divestiture will allow us to focus on our core specialty business while accelerating our path to reducing leverage and improving cash flow. We plan to use all net proceeds to repay borrowings on our senior credit facility. With the resulting lower interest burden, we expect this transaction to improve our annual cash flow by more than $7m annually net of the reduced cash generation from ECP. Finally, I'd like to thank the ECP team for all their contributions to Evolent and I know they will thrive at Privia," Seth Blackley, Evolent Co-Founder and CEO.