HealthLeaders Media June 30, 2023
The deal will exit Bright Health from the insurance business as it shifts its focus to consumer care.
Molina Healthcare is set to acquire floundering Bright Health Group’s Medicare Advantage (MA) business in California in a deal worth approximately $510 million, net of certain tax benefits, the company announced today.
With the sale, which is expected to close in the first quarter of 2024, Bright Health is now completely out of the insurance business and will turn its efforts to its consumer care products, according to a press release put out by the insurer.
Bright Health said it will take the proceeds of the sale to pay off its debts and obligations to benk lenders, with the remaining funds...
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