Healthcare Moves: A Monthly Summary of Hires and Layoffs
Here is a selection of recent executive hires, exits, promotions and layoffs occurring across the healthcare industry.
Selling Its MA Business May Be Bright Health Group’s Only Option, Experts Say
Bright Health Group said last week it is “exploring strategic alternatives” for two Medicare Advantage plans in California: Brand New Day and Central Health Plan, which the insurtech purchased several years ago for $500 million. One expert said selling is necessary as the company faces bankruptcy.
Tackling Rising Drug Costs and Growing Popularity of GLP-1’s
See how Quantum Health is providing the steps to help their members tackle the cost of specialty medications and other drugs.
StartUPDATES: New developments from healthcare startups
Check out new developments from Seven Bridges, Healthmine, Bright Health, and My One Medical Source.
Cigna invests in Bright Health’s $750M financing
Cigna Ventures and Bright's majority shareholder, New Enterprise Associates, are contributing to the financing. It comes as Bright faces higher-than-expected medical costs during the pandemic.
Devoted Health raises $1.1B, sending valuation soaring past $12B
Though the Medicare Advantage-focused insurance technology startup is smaller than rivals like Clover Health in terms of membership and revenues, this latest financing round places it ahead of, or at least on par with, several larger competitors with regard to total funds raised.
Bright Health to grow footprint in 2022, adding 42 new markets
Bright Health will use proceeds from its IPO to fund the expansion, which will bring its total number of markets to 141 from 99. The company will also expand its product portfolio in states where it already operates.
Understanding EGPA: The Role of Eosinophils and Advancements in Treatment Options
FASENRA® (benralizumab) injection, for subcutaneous use, 30 mg is indicated for the treatment of adult patients with eosinophilic granulomatosis with polyangiitis (EGPA). FASENRA provides a treatment option for HCPs to consider when managing this challenging disease.
Bright Health sets terms for $1.3B IPO
With plans to sell 60 million shares of common stock, Bright Health will price its IPO between $20 and $23 per share. It will trade on the New York Stock Exchange under the symbol "BHG," according to a recent SEC filing.
Bright Health follows rival Oscar Health down IPO path
Bright Health has filed preliminary paperwork for an IPO, joining its rivals in the insurance technology space in going public. Though there are few confirmed details at the moment, Bright Health is reportedly looking to raise $1 billion through the offering.
Insurtech companies’ IT expertise give them competitive edge in telehealth & beyond
Insurance startups' interest in telehealth is backed by both technical expertise and a focus on consumer experience. This will provide them a leg up not only in the competitive telehealth arena but also in consolidating other digital care services.
Bright Health acquires Zipnosis, enters telehealth market
Insurance technology startup Bright Health has purchased Zipnosis, which provides telehealth services. Though details of the transaction are sparse, the acquisition aims to lower healthcare costs and expand access to quality care.
Changes in Nurse Staffing Answer Clinician Demands
The ongoing nursing shortage facilitates high turnover rates since nurses know they won’t have difficulties finding new jobs. In order to retain and attract staff, it’s in a facility’s best interest to understand what nurses want.
Report: Bright Health eyes $1B IPO
Insurance startup Bright Health is reportedly planning to raise up to $1 billion in an IPO that will be launched in the second quarter of 2021. The company, which provides several insurance products as well as an IT platform, could be valued at more than $10 billion, Bloomberg reported.
Meet Circulo, the insurtech firm on a mission to disrupt Medicaid managed care
A new startup has entered the highly competitive insurtech market — with $50 million in new funds. Circulo, co-founded by Olive CEO Sean Lane, is a Medicaid managed care company that plans to build a platform to improve care delivery and member experience.
New White House, Covid-19 pandemic spurring insurer participation in ACA marketplace
Insurer participation in the ACA individual marketplace is on the rise and the trend is driven by policy changes at the federal level and the lingering effects of the Covid-19 pandemic.
Insurtech startup Sidecar Health’s valuation hits $1B
The newly crowned unicorn's insurance product enables members to shop for medical services and pay directly for care. The company raised $125 million in a recent funding round, boosting its valuation, which it will use to increase its footprint and launch new products.
Bright Health raises $500M, plans expansion into employer-based insurance
After raising $635 million last year, insurance startup Bright Health brought in another $500 million led by three private equity firms. Starting next year, the company said it will offer small-group plans and services for self-insured companies.