Cadwalader Represents New Mexico Health Connections in Sale of Group Health Business to Evolent Health

NEW YORK, Jan. 4 -- Cadwalader, Wickersham and Taft, a financial services law firm, issued the following news release:

Cadwalader represented New Mexico Health Connections (NMHC) in the sale of its commercial health insurance business to Evolent Health, Inc., a company providing an integrated value-based care platform to the nation's leading health systems and physician organizations. The assets include NMHC's commercial plan and health plan management services organization, which are being acquired in the name of a new entity, True Health New Mexico, Inc., a wholly-owned subsidiary of Evolent Health.

The legacy NMHC, one of four remaining not-for-profit Consumer Oriented and Operated Plan health insurers that were created by 26 States under the Affordable Care Act to offer low cost individual insurance on the State insurance exchanges, expects to continue to operate as an independent non-profit health care organization throughout the state of New Mexico, offering individual health insurance products.

The Cadwalader team includes Corporate partners Stephanie Marcantonio, Bill Mills, and Paul Mourning, associates Peter Bariso and Michael DiFiore and Gianna Sagan; Executive Compensation, Benefits & ERISA partner David Teigman; Tax partner Linda Swartz and special counsel Jean Bertrand; and Intellectual Property partner Dorothy Auth and associate Michael Sebba.