Ropes & Gray Advises TPG Portfolio Company IPG in Sale to Evolent Health
Ropes & Gray advised TPG Growth portfolio company IPG, a leading surgical management technology and services provider, in a sale agreement to Evolent Health in a transaction worth up to $462 million. The deal was announced on June 29.
Under the agreement, Evolent Health will buy IPG for $375 million with up to an additional $87 million paid based on future IPG performance milestones. When the deal closes, New Century health will integrate the IPG team and platform. New Century Health is a wholly-owned subsidiary of Evolent Health specializing in cardiology and oncology specialty care.
The Ropes & Gray team that advised TPG Growth was led by private equity partners Elizabeth Gallucci and Jay Freedman and included, capital markets partner Thomas Fraser, employment & benefits partner Matt Jones, tax partner Ben Rogers, private equity partner Alexander Zeltser, litigation & enforcement partner Maria Calvet, private equity counsel Peter Wang and employment & benefits counsel Stephanie Bruce.