Evolent adds Dr. David Lim as chief clinical officer, John Way as CFO

WASHINGTON - Evolent Health, Inc. (NYSE:EVH), a $1.36 billion healthcare solutions company currently trading at $11.78, announced two key leadership appointments on Wednesday, adding Dr. David Lim as chief clinical officer and John Way as CFO of its Performance Suite. According to InvestingPro analysis, the company appears undervalued based on its Fair Value metrics.

Dr. Lim will lead Evolent’s 300-person medical team supporting daily operations and innovation. He previously served as chief medical officer at RightMove Health, a virtual physical therapy company. His prior experience includes roles as chief technology innovation officer at InnovaCare Health, founding team member and CMO at Quartet Health, and director of clinical design at Castlight Health.

Way will oversee financial aspects of the company’s at-risk specialty condition management products. He brings over 20 years of executive financial management experience, including positions as CFO at OptumHealth and OptumCare.

"I’m excited to welcome Dave and John, not just because of their deep experience but also their commitment to transforming specialty care for patients, payers and providers," said Seth Blackley, CEO and Co-Founder of Evolent, according to the company’s press release.

Dr. Lim will report to Chief Medical Officer Dr. Von Nguyen, while Way will report to CFO John Johnson.

Evolent Health focuses on improving health outcomes for people with complex conditions through healthcare solutions. The company serves payers and providers across the United States.

In other recent news, Evolent Health has reaffirmed its second-quarter guidance, indicating that it is tracking in the upper half of its expected range despite industry cost pressures. The company has also secured a financing commitment from Ares Management, addressing investor concerns about its convertible notes maturing in October 2023. This new financing is expected to eliminate worries about financial constraints. Analysts from Truist Securities, UBS, Canaccord Genuity, and JMP Securities have all maintained their positive ratings on Evolent Health, underscoring the company’s strategic value in managing rising healthcare costs.

Truist Securities reaffirmed its Buy rating, citing insights from key customers like Centene and Molina Healthcare, which are significant revenue contributors for Evolent. UBS also maintained its Buy rating, emphasizing the new financing arrangement’s impact on alleviating near-term financial overhangs. Canaccord Genuity reiterated its Buy rating, noting potential positive trends in oncology costs that could enhance the company’s earnings. JMP Securities reiterated a Market Outperform rating, highlighting Evolent’s stronger contracting mechanisms and a robust business pipeline.

Evolent Health has also reiterated its 2025 guidance, supported by favorable oncology cost trends. The company expects to be in the top half of its Q2 Adjusted EBITDA range if these trends continue. The firm has significantly increased its forecast for new revenue bookings entering 2026, although specific figures were not disclosed.

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