Evolent Health Reaches Agreement with Engaged Capital for Board Changes
Deal News | Feb 04, 2025 | Olshan Frome Wolosky LLP
Engaged Capital, advised by Olshan Frome Wolosky LLP, has reached an agreement with Evolent Health that facilitates the inclusion of Brendan Springstubb, a former partner at Engaged Capital, in Evolent Health’s board of directors. This agreement has resulted in the resignation of an existing board member. Additionally, Mr. Springstubb has been appointed to the board's Strategy Committee. Evolent Health also announced imminent changes with plans to appoint a new Chair and an independent director at their upcoming annual meeting. The strategic move was facilitated under the guidance of Olshan's Shareholder Activism Practice Group leaders including Vice Chair Ryan Nebel.
Sectors
- Healthcare
- Finance and Investment
- Legal Services
Geography
- United States – Evolent Health and Engaged Capital are both based in the United States, and the legal firm Olshan Frome Wolosky LLP operates there, indicating the geographical focus of the article.
Industry
- Healthcare – Evolent Health operates in the healthcare sector, providing healthcare delivery and payment services.
- Finance and Investment – Engaged Capital, a principal participant in the article, operates in the finance and investment industry, focusing on shareholder activism and investments.
- Legal Services – Olshan Frome Wolosky LLP, a legal advisory firm, is involved, providing transaction-related legal advice and services.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Evolent Health | Target Company | Company | A healthcare company involved in the board restructuring and strategic agreements with Engaged Capital. |
| Engaged Capital | Bidding Company/Investor | Company | An investment firm focusing on shareholder activism, involved in the strategic agreement with Evolent Health. |
| Olshan Frome Wolosky LLP | Legal Advisor | Company | A law firm representing Engaged Capital in its investment dealings with Evolent Health. |
| Brendan Springstubb | Board Member | Person | Former partner at Engaged Capital, appointed to Evolent Health's board and Strategy Committee as part of the agreement. |
| Ryan Nebel | Legal Advisor | Person | Vice Chair of Olshan's Shareholder Activism Practice Group, involved in advising Engaged Capital. |
| Ian Engoron | Legal Advisor | Person | Member of Olshan's Shareholder Activism Practice Group, involved in advising Engaged Capital. |
| Joseph Ferrone | Legal Advisor | Person | Member of Olshan's Shareholder Activism Practice Group, involved in advising Engaged Capital. |