AXIOS September 23, 2021
Devoted Health, a health insurance startup that focuses on Medicare Advantage plans, is raising up to $1.2 billion in new funding at around an $11.5 billion valuation, according to a Delaware stock authorization filing.
Why it matters: The Waltham, Mass.-based company serves around 40,000 seniors in four states, more than double from the first half of 2020, and wants to eventually become a nationwide provider.
Devoted reports a $27.2 million net loss on $247.3 million in revenue for the first half of 2021, according to insurance filings in Arizona, Florida, Ohio and...
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