Evergreen Health Announces Agreement with Investor Group

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BALTIMORE, Jan. 17, 2017 /PRNewswire-USNewswire/ -- Evergreen Health today announced that it has finalized an agreement with a group of investors to finance its capital needs--a crucial step towards securing Evergreen's long-term success.

"This is an exciting day for Evergreen's members and employees.  I am very much looking forward to working with our group of investors, who share my passion for providing Maryland residents with affordable, high-quality health care," said Dr. Peter Beilenson, CEO of Evergreen Health.  "As a result of this agreement, Evergreen will be in a much stronger financial position than it has ever been.  I am extremely thankful to Governor Larry Hogan, Insurance Commissioner Al Redmer, Senator Ben Cardin and Congressman Elijah Cummings.  Without their unwavering support, this agreement would never have been completed."

"Competition in the health insurance marketplace results in lower prices and more benefits for consumers, no matter which health insurance company they choose.  That is why this agreement, which ensures Evergreen's role in the marketplace going forward, is good news for all Maryland residents," said Al Redmer, Commissioner of the Maryland Insurance Administration.

Evergreen Health Cooperative Inc., was established in 2012 to provide high-quality, affordable, patient-centered health care in Maryland. The company's new name is Evergreen Health, Inc.  Currently, Evergreen has 26,000 members.  Its affiliate, Evergreen Health Care, operates full-service, innovative health centers in Baltimore City, White Marsh, Columbia and Greenbelt.

SOURCE Evergreen Health