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Bright Health Group Announces Closing Of $750 Million Capital Raise To Support Continued Growth

Jan 03, 2022•over 3 years ago

Amount Raised

$750 Million

MinneapolisMobileHealth Care

Description

Bright Health Group, Inc. ("Bright Health Group" or the "Company") (NYSE: BHG), the first technology-enabled fully aligned system of care, built for healthcare's consumer retail market, today announced the closing of its previously announced offering of Series A convertible perpetual preferred stock (the "Series A Preferred"). A total of 750,000 shares of the Company’s Series A Preferred were sold to certain subsidiaries of Cigna Corporation and certain affiliates of New Enterprise Associates. Aggregate proceeds to the Company from the offering were $750 million.

Company Information

Company

Bright Health Group

Location

Minneapolis, Minnesota, United States

About

Bright Health Group is the first technology-enabled, fully aligned system of care built for healthcare's consumer retail market. Our differentiated approach aligns care delivery with the financing of care to drive better outcomes, lower costs, and enhance the consumer experience. We have two market-facing businesses: NeueHealth and Bright HealthCare. NeueHealth provides care delivery and value-based enablement services through our 131 owned and affiliated clinics and broader Care Partner network. Bright HealthCare offers Commercial and Medicare health plan products to over 720,000 consumers across the nation. We believe everyone should have access to personal, affordable, and high-quality healthcare. Our mission is to Make healthcare right. Together. For more information, visit www.brighthealthgroup.com.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech