Bright Health Group, Inc. (“Bright Health” or the “Company”) (NYSE: BHG), today announced that it is exploring strategic alternatives for its California Medicare Advantage business, which consists of Brand New Day and Central Health Plan, with a focus on a potential sale. The proceeds would substantially bolster the Company’s financial position and establish a strong foundation for long-term sustainable growth. As it takes this action, the Company will continue to focus on capturing the shift to value-based, consumer-driven healthcare through its Consumer Care Delivery business, while working to wind-down and exit its ACA insurance business.
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Source: https://www.businesswire.com/news/home/20230428005069/en/Bright-Health-Group-to-Explore-Strategic-Alternatives-for-Medicare-Advantage-Business-as-it-Focuses-on-Driving-Performance-through-its-Consumer-Care-Delivery-Business