Edison-based care-planning service Vital Decisions was sold by New York private equity firm WindRose Health Investors LLC to health IT company Evolent Health Inc.
WindRose announced the completion of Vital Decisions’ sale on Oct. 6. Vital Decisions will now report into Evolent’s specialty management offering, New Century Health, and be consolidated into Evolent’s Clinical Solutions segment, headquartered in Arlington, Va.
Vital Decisions was founded in 2006. The company provides technology-enabled advance care-planning services and provides collaborative decision making and care-planning support for people within a health plan’s population.
WindRose has had a majority investment in Vital Decisions since December 2012, and in that time Vital Decisions has significantly expanded its business, WindRose Managing Partner Oliver Moses said.
“Vital Decisions was formed as a patient-focused platform to enhance alignment among patients, families, and providers regarding the care that is delivered during an advanced illness. Through our economic studies and peer-reviewed research, we found that up to 35% of costs in the last six months of life are for services that are unwarranted or unwanted,” said Mitchell Daitz, co-founder and executive chairman of Vital Decisions. “New Century’s focus on driving outcomes through peer-led provider collaboration will enhance the effectiveness of Vital Decisions’ services, and we look forward to the partnership.”
McDermott Will & Emery LLP acted as legal advisor for Vital Decisions. Bass, Berry & Sims PLC is acting as legal counsel to Evolent.