Stock Groups

Walgreens weighing deal to buy Evolent Health

by Mike Robinson

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© Reuters. FILE PHOTO – A pedestrian walks past a Walgreens sign in Somerville (Massachusetts), U.S.A, on June 29, 2017. REUTERS/Brian Snyder/File Photo

(Reuters) – Pharmacy chain Walgreens Boots Alliance (NASDAQ:) is considering an acquisition of healthcare IT firm Evolent Health (NYSE:) Inc, Bloomberg reported on Wednesday, citing people familiar with the matter.

Evolent stock rose nearly 18% in the wake of the report. However, some gains were lost and the shares traded up to 8%.

Bloomberg reported that negotiations are continuing and Walgreens has not yet made an offer to purchase the company.

Reuters reached Walgreens and Evolent for comments but they did not respond immediately.

Evolent’s market value was $2.36 million at Tuesday’s close.

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