NeueHealth, Inc. - BHG STOCK NEWS

Bright HealthCare has expanded its offerings to Texas, launching plans for individuals and families in Houston, Dallas, and Austin ahead of the November 1 Open Enrollment Period. The company aims to address Texas's high uninsured rate of 20.8% among residents under 65, exacerbated by the pandemic. Its plans feature low or no-cost premiums, deductibles, and primary care visits. Bright HealthCare serves over 663,000 consumers across 14 states and emphasizes technology-driven, consumer-focused healthcare.

Bright HealthCare will be the first carrier added to Covered California in six years, offering affordable health plans in Contra Costa County starting October 1, 2021.

These plans are effective January 1, 2022, with partnerships established with John Muir Health and Hill Physicians to deliver quality care.

Bright HealthCare also plans to offer Medicare Advantage plans to over 5.6 million eligible individuals across California during the annual enrollment period.

Bright Health Group (NYSE: BHG) announced that its CEO Mike Mikan and CFO Cathy Smith will participate in a virtual fireside chat at the Morgan Stanley 19th Annual Global Healthcare Conference on September 15, 2021 at 12:30 PM ET. The event will be webcasted live on the company's investor relations website. Bright Health Group aims to enhance healthcare delivery and reduce costs through its unique integrated care system, serving approximately 170,000 patients and over 663,000 consumers with its two market-facing businesses.

Bright HealthCare has announced its expansion into several new states for 2022, increasing its operational footprint to 17 states and 131 markets, reaching over 16.5 million eligible consumers. The company, part of Bright Health Group (NYSE: BHG), aims to enhance its product offerings in existing markets as well. CEO Simeon Schindelman emphasized the success of their integrated Care Partner model in lowering healthcare costs and improving quality. Bright HealthCare serves over 623,000 consumers through various health plans, including Individual & Family Health Plans and Medicare Advantage Plans.

Bright Health Group, Inc. (NYSE: BHG) reported a significant revenue increase of 275% in Q2 2021, totaling $1,114 million, driven by membership growth in Bright HealthCare and NeueHealth. The company's adjusted medical cost ratio improved to 82.0%, while operating costs decreased to 23.4%. However, the GAAP net loss widened to $43.7 million. For 2021, revenue is projected at $4.0 to $4.2 billion, with an enterprise medical cost ratio around 86%. Bright Health aims to enhance healthcare accessibility and affordability across the U.S.

Bright Health Group (NYSE: BHG) has announced the return of healthcare expert Andy Slavitt to its Board of Directors, effective August 1, 2021. Slavitt previously served on the Board before taking a leave to assist with the COVID-19 vaccination rollout as a senior advisor to President Biden. With extensive experience in American healthcare, Slavitt's expertise is anticipated to enhance Bright Health's strategy in providing accessible, quality healthcare. The company operates two main divisions, NeueHealth and Bright HealthCare, serving 210,000 patients and 623,000 consumers, respectively.

Bright Health Group (NYSE: BHG) will announce its second quarter financial results on August 3, 2021, before market opening. A conference call is scheduled for 8:00 a.m. ET, with participation available via phone at (844) 200-6205 using code 764453. The Company aims to enhance the healthcare experience through its dual business model, comprising NeueHealth and Bright HealthCare, providing services to approximately 210,000 patients and health plans to around 623,000 consumers across 14 states.

NeueHealth, a division of Bright Health Group (NYSE: BHG), has successfully acquired a majority interest in Centrum Medical Holdings. This acquisition expands NeueHealth's integrated care delivery model, now encompassing 78 affiliated risk-bearing clinics serving around 160,000 patients under value-based arrangements. The company also plans to extend its services into Texas and North Carolina. CEO Sam Srivastava highlighted the importance of this acquisition in enhancing their consumer-centric healthcare approach, which focuses on reducing coordination issues between payors and providers.

Bright Health Group has priced its initial public offering (IPO) at $18.00 per share for 51,350,000 shares, with the potential for underwriters to purchase an additional 6,162,000 shares. The offering aims to generate approximately $924.3 million in gross proceeds, potentially reaching $1.035 billion if the overallotment is exercised. Trading on the New York Stock Exchange is set to begin on June 24, 2021, under the symbol 'BHG', with the closing expected on June 28, 2021. J.P. Morgan, Goldman Sachs, and Morgan Stanley are the lead underwriters for this offering.