Kentucky Governor Matt Bevin’s administration has “effectively” cut Passport Health Plan of Louisville out of contracts to manage around $8B a year in the state’s Medicaid business, dealing a blow to both Passport and Evolent Health, which announced plans to buy Passport in May, reported the Louisville Courier Journal’s Deborah Yetter. Evolent Health shares are down $2.93, or 27%, to $7.75 in morning trading following the report.
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