Fierce Healthcare December 29, 2023
The sale of Bright Health Group’s Medicare Advantage plans to Molina Healthcare has cleared the needed regulatory hurdles and is set to close on or about Jan. 1.
The troubled insurtech also announced Friday that it had secured an amendment to its credit facility with J.P. Morgan, reducing the payments owed by $30 million to about $298 million. Bright said it expects to make the payment at the same time as the MA deal closes, wiping out its secured debt.
The remaining proceeds from the sale to Molina will be used to “meaningfully improve the capital position of Bright Health’s continuing business,” the company said.
“I am really proud of all we have accomplished this year and look forward to...
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