Officials with the financially troubled insurtech Bright Health did not take questions at the end of their earnings call Tuesday, citing the company’s efforts to find a buyer for its California Medicare Advantage (MA) plans. Selling off the last of its insurance business is critical to staving off bankruptcy. The company secured an extension to its credit facility through June 30 on the stipulation it sells off its California MA plans by the end of this month. The company overdrew its credit facility and needs to raise about $300 million to avoid going under.
Read the full article: Troubled Insurtech Bright Health Focused on Sale of California MA Plans, Execs Say //
Source: https://www.fiercehealthcare.com/payers/troubled-insurtech-bright-health-focuses-attempts-sell-its-california-ma-plans-q1-earnings