MedCity News October 9, 2020
When it announced plans to go public through a blank-check company, Clover Health shared ambitious projections for its future membership. Much of that growth is pinned on plans to launch a direct contracting business.
When Clover Health announced its plans to go public via a blank-check company, the insurance startup pitched investors on its growth plans. Its CEO and founder, Vivek Garipalli, claimed it was the fastest growing Medicare Advantage plan over 50,000 lives — based on internal data — and that much of the $1.2 billion in proceeds from the deal would be used to fund its future expansion.
But a closer look shows that much of the San Francisco-based company’s forecasted membership growth hinges on a yet-to-be-launched direct...
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