Evolent Health To Acquire Machinify - Quick Facts

(RTTNews) - Evolent Health (EVH) has entered into an agreement to acquire certain assets of Machinify and the royalty-free license of Machinify Auth, a software platform that leverages the latest advances in artificial intelligence to increase the clinical quality, speed and consistency of the clinical reviews for all specialty conditions. Machinify is a privately held company based in Palo Alto, California.

Evolent plans to integrate the Machinify Auth team, software applications and AI capabilities into its platform. Evolent and Machinify will also enter into a multi-year services agreement. Evolent Health said the acquisition is immaterial to revenue outlook and estimates to be neutral to Adjusted EBITDA in the first year after closing.