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Cases & Deals

January 20, 2023

Evolent Health Acquires NIA (Magellan Specialty Health) from Centene Corporation

King & Spalding represented Evolent Health, Inc. (NYSE: EVH) in connection with its new senior secured credit facilities comprised of $240 million of new term loans and $25 million of incremental revolving loans, and its sale of $175 million of convertible preferred shares, to finance in part its acquisition of NIA (also known as Magellan Specialty Health), the specialty benefit management organization owned by Centene Corporation (NYSE: CNC).

The King & Spalding team included Elizabeth Morgan, Zach Cochran, Mary Liz Brady, Jonathan Talansky, Sean Toner, Philip Rizk and Jay Kaganoff.

A press release announcing the transaction can be found here.