Fierce Healthcare June 28, 2021
Bright Health made $924 million in its initial public offering late last week, setting a new high for insurers going public.
Competitors Oscar Health, Clover Health and Alignment Health all went public earlier this year.
The IPO pricing values Bright Health at $11.23 billion, according to a report from Reuters. The startup insurer initially priced its IPO at $18 per share, so its early haul does fall short of that figure.
As of about 2:45 p.m. Monday, Bright Health’s stocks were trading at $17.28 per share, just under the previous close price of $17.25.
Bright Health is currently trading under the ticker “BHG” on the New York Stock Exchange. The IPO was expected to close Monday.
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