Becker's Healthcare January 2, 2024
Bright Health has closed the sale of its last insurance business to Molina Healthcare.
The deal closed Jan. 1, according to a Jan. 2 news release from Molina.
Long Beach, Calif.-based Molina paid $425 million for Bright Health’s Medicare Advantage business in California, down from the originally announced purchase price of $510 million.
The deal will significantly expand Molina Healthcare’s Medicare membership. The company had 173,000 Medicare members at the end of the third quarter of 2023, according to its earnings report. Bright Health has around 109,000 Medicare Advantage members in California, according to Molina’s news release.
In a Jan. 2 news release, Bright Health said it made the final payment on its amended credit...
Today's Sponsors
Today's Sponsor