Evolent Health Announces Cooperation Agreement With Engaged Capital
Appoints New Independent Director Craig Barbarosh to the Board
Board to Form a Strategy Committee Focused on Value Creation Initiatives
Company to Seek Stockholder Approval to Declassify Board at 2021 Annual Meeting
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WASHINGTON, Dec. 22, 2020 /PRNewswire/ Evolent Health, Inc. (NYSE: EVH) (the Company or Evolent ), a health care company that delivers proven clinical and administrative solutions to payers and providers, today announced that it has entered into a Cooperation Agreement with Engaged Capital, LLC ( Engaged Capital ), pursuant to which Craig Barbarosh has been appointed to Evolent s Board of Directors as a Class III director.
Ziel Feldman (right), Nir Meir and the XI (Illustration by Zach Meyer)
“What’s the latest?” read the text that popped up on Nir Meir’s phone one Thursday afternoon in July. “Running out of time.”
The message to the HFZ Capital Group managing principal was from Adam Gibbons, an executive at CIM Group. The lender was awaiting an overdue payment on $90 million of mezzanine debt it holds on four prewar Manhattan apartment buildings HFZ is converting to condominiums.
“On it,” Meir wrote back. “2 min.”
Four hours later, a reference number popped up on Gibbons’ phone. It seemed the $2.3 million HFZ owed had been wired.