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TPG Growth backs Evolent Health’s $100m Series B

1 Oct 2013

dollar4_sqHealthcare startup Evolent Health has secured a massive $100m Series B round to expand its team and further develop its population health and risk management platform.

The round, which brings the company’s fundraising total to $124.5m, was backed by TPG Growth and its founding organizations, The Advisory Board Company and UPMC Health Plan.

Evolent currently works with a number of healthcare systems including Piedmont Healthcare, WellStar Health System, Indiana University Health, MedStar Health and Premier Health.

TPG Growth partner Matt Hobart said, “We are excited to partner with the founding investors, UPMC and The Advisory Board Company, and an excellent management team to support the continued growth and expansion of Evolent Health.

“The company has already demonstrated compelling results for existing clients, has substantial momentum with new clients, and is at the forefront of the movement toward provider-led, value-based care.”

Last month TPG Growth invested $23m in Indian medical consumables company Sutures.

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