Crunchbase January 8, 2021
Clover Health, a provider of Medicare Advantage health plans, is poised to become a public company on Friday. It closed a $3.7 billion merger agreement this week with Social Capital Hedosophia III, a blank-check acquisition company led by billionaire Chamath Palihapitiya.
The newly merged company, to be known as Clover Health Investments, is expected to begin trading under the new trading symbols of CLOV and CLOVW on the Nasdaq Global Select Market.
The San Francisco-based company announced it was going public in October. The insurer provides Medicare Advantage plans for more than 50,000 members. It also developed Clover Assistant, a proprietary platform that aggregates millions of relevant health data points–claims, medical charts, diagnostics–and gives medical care providers actionable and personalized...
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