Editor's note: This article was updated Aug. 26 to reflect Reuters' reporting that Elevance Health no longer plans to bid to acquire Evolent Health.
Elevance Health is no longer among the potential purchasers of Evolent Health, Reuters exclusively reported Aug. 26.
On Aug. 22, Reuters reported Elevance Health was considering purchasing the healthcare software company. Sources familiar with the deal told Reuters on Aug. 26 the company had dropped out of the process.
Multiple private equity firms, including Clayton, Dubilier & Rice, have expressed interest in acquiring the company, Reuters reported.
Evolent Health, launched by UPMC Health Plan, creates software to help providers transition from fee-for-service to value-based arrangements.
Other healthcare giants have considered buying Evolent Health in the past. Walgreens reportedly considered purchasing the software provider in 2021.
Read Reuters full report here.