Bright Health has finalized a 1-to-80 reverse stock split to raise its share price above the threshold required to remain on the New York Stock Exchange.
The reverse split raised the company's share price to $13.57 at NYSE's opening on Monday, up from $0.21 at the close on Friday.
On the New York Stock Exchange, a company risks being delisted if its shares don't reach $1 and hold that value for...
Bright Health Group announced Tuesday that it won't offer individual and family health plans through its insurtech Bright HealthCare next year, and that it's cutting Medicare Advantage products outside of California and Florida.
The cutback will affect plans in Alabama, Arizona, Colorado, Florida, Georgia, Nebraska, North Carolina, Texas and Tennessee. The company had previously announced in...
COVID-19 changed how healthcare was delivered by accelerating the use of virtual care and telehealth.
But insurers, employers and other payers are jumping on the virtual bandwagon too, hoping to lower the cost of care by offering technology and digital solutions to their members.
More players launched virtual-first health plans, some big insurtechs hit the public markets this year, and digital...
Insurtech company Bright Health scored a hefty $750 million investment from Cigna Ventures, the venture capital arm of insurer Cigna, and longtime investor New Enterprise Associates.
The news comes about a month after the newly public company announced financial results from a "challenging" third quarter, where it posted a GAAP net loss of $296.7 million. But Bright reaffirmed its 2021 guidance...
Insurtech company Bright Health is heading to the New York Stock Exchange with an initial public offering of 60 million in shares. According to the company's SEC filing, the initial stock price is expected to be somewhere in the range of $20 to $23 per share.
The Minneapolis-based company is shooting for a roughly $14 billion valuation in the new offering, Reuter's reports.
This news comes less...
Insurtech company Bright Health has snapped up telehealth startup Zipnosis for an undisclosed sum. The acquisition, which was first reported by MedCityNews, signals that the unicorn health insurance company is looking to strengthen its foothold in the telemedicine market.
According to a release by Zipnosis' financial officer, Cain Brothers, this deal will allow Bright Health to deliver...
As Hims & Hers prepares for the public market, it’s adding new members to its board with backgrounds in investing and consumer tech. This morning it exclusively announced to MobiHealthNews two new board members Lynne Chou O’Keefeand David Wells.
O’Keefe comes from an investment background. She is the founder and managing partner of Define Ventures and served as a partner in the Life Sciences...
Insurtech company Bright Health announced today another bout of funding, this time racking up $500 million for its Series E round.
The funding round included new investors Tiger Global Management, T. Rowe Price Associates and Blackstone, as well as existing investors including NEA, Bessemer Venture Partners and Greenspring Associates.
WHAT IT DOES?
Bright Health got its start as a consumer-...
Digital diabetes company Virta has named Dr. Robert Ratnerits next Chief Medical Officer. Ratner comes to the position following his tenure as Chief Scientific and Medical Officer for the American Diabetes Association. This news comes only a few months after the company announced its $93 million Series C funding round.
Ratner has been involved with the San Francisco-based startup for some time,...
Bright Health’s funding rounds keep getting bigger and bigger, with the health insurance startup announcing today the close a $635 million Series D.
Led by New Enterprise Associates (NEA) with additional support from Bessemer Venture Partners, Cross Creek Advisors, Declaration Partners, Flare Capital Partners, Greenspring Associates, Meritech Capital, Redpoint Ventures and Town Hall Ventures,...
