Welcome to our dedicated page for Selectquote news (Ticker: SLQT), a resource for investors and traders seeking the latest updates and insights on Selectquote stock.
SelectQuote, Inc. (NYSE: SLQT) is described in its public communications as a leading distributor of Medicare insurance policies and the owner of a rapidly growing healthcare services platform. News about SLQT often centers on its SelectQuote Senior Medicare distribution business, its Healthcare Services segment anchored by the SelectRx pharmacy, and its SelectQuote Life insurance operations.
On this page, readers can follow company announcements about Medicare insurance distribution performance, healthcare services initiatives and capital structure developments. Recent releases have highlighted new credit facilities arranged with lenders, including a senior secured term loan and revolving credit facility used to refinance existing debt and support working capital. Other news has focused on multiyear agreements for SelectRx with pharmacy benefit manager partners aimed at providing more predictable reimbursement economics.
Company news also covers operational metrics and research from its Healthcare Services platform. SelectQuote has reported on SelectRx membership growth, prescriptions shipped per day, and research from its Healthcare Select division that examines chronic conditions, prescription use, social determinants of health and medication adherence among Medicare beneficiaries. Additional updates describe partnerships with social service platforms to connect low-income seniors with food, housing, transportation and other support programs.
Investors and observers can use this news feed to review earnings releases, segment results for Senior, Healthcare Services and Life, updates on Medicare Advantage policy volumes, and disclosures about new programs designed to improve medication adherence for polychronic Medicare beneficiaries. Regularly reviewing SLQT news provides context on how the company’s insurance distribution and healthcare services ecosystem is evolving over time.
On August 3, 2021, Zing Health announced a partnership with SelectQuote (NYSE: SLQT) to enhance exposure to its Medicare Advantage plans across Illinois, Indiana, and Michigan. This collaboration aims to simplify the enrollment process for seniors, especially those new to Medicare. SelectQuote's commission-agnostic agents will aid in navigating different plans and pricing. The initiative focuses on improving health equity, offering bilingual enrollment specialists, and providing additional benefits like telehealth and specialized care. Zing Health, founded in 2019, emphasizes personalized care for seniors.
SelectQuote, Inc. (NYSE: SLQT) has expanded its relationship with Heal, Inc., enhancing its Population Health's patient engagement model. This partnership aims to improve health outcomes by offering Medicare customers greater access to home-based primary care and personalized solutions. With over 30% of patients emphasizing the importance of value-based care, this collaboration ensures a seamless healthcare experience. Population Health’s SelectRx pharmacy has reported a 95% medication adherence rate, indicating effective management of patient care. This strategic move is expected to reinforce SelectQuote's standing in the Medicare market.
SelectQuote, Inc. (NYSE: SLQT) launched its new healthcare services company, Population Health, on May 3rd. This initiative enhances its Medicare Advantage and Supplement brokerage, focusing on customer education and health management through Customer Success Agents. The company has experienced strong demand for its SelectRx offering, facilitating high medication adherence among seniors. SelectQuote plans to expand its Population Health team and has recently appointed Elise Comiskey as Vice President of Healthcare Operations.
SelectQuote Inc. (NYSE:SLQT) will replace Cooper Tire & Rubber Co. (NYSE:CTB) in the S&P SmallCap 600 index, effective June 10, 2021. This change follows the acquisition of Cooper Tire by The Goodyear Tire & Rubber Co. The update reflects ongoing shifts in market indices and may influence stock performance for both companies.
SelectQuote, Inc. (NYSE: SLQT) will have CEO Tim Danker and CFO Raff Sadun participate in a virtual fireside chat at RBC’s Global Healthcare Conference on May 18, 2021, around 1:55 PM ET. They will discuss the fiscal 3rd quarter earnings and the launch of Population Health, aimed at enhancing Senior healthcare outcomes. The chat will also cover the acquisition of Express Med Pharmaceuticals, set to be branded as SelectRx. Additionally, Mr. Danker and Mr. Sadun will hold 1x1 and small group meetings with investors.
SelectQuote reported a remarkable 80% increase in consolidated revenue for Q3 FY2021, reaching $266.9 million, compared to $148.6 million in Q3 FY2020. Net income jumped to $36.5 million, up from $23.7 million, while Adjusted EBITDA rose 48% to $65.2 million. For the nine-month period, revenue surged 92% to $749.4 million, and net income increased by $66.6 million to $127.7 million. CEO Tim Danker highlighted strong growth in Medicare Advantage policies, which grew 112% year-over-year.
SelectQuote, Inc. (NYSE: SLQT) has launched Population Health, a new healthcare services initiative aimed at enhancing medication adherence, health literacy, and patient engagement among seniors. The initiative addresses gaps in healthcare literacy, with a focus on effective communication and support for medication management. SelectQuote also introduced SelectQuote Ventures to pursue strategic partnerships and acquisitions, starting with Express Med Pharmaceuticals. Key partnerships with Value-Based Primary Care providers and a transportation collaboration with Lyft are designed to improve health outcomes for seniors.
SelectQuote, Inc. (NYSE: SLQT) will release its third quarter 2021 financial results after market close on May 11, 2021. CEO Tim Danker and CFO Raff Sadun will host a conference call on the same day at 5:00 pm ET to discuss the results. SelectQuote specializes in unbiased insurance comparisons, boasting a strong agent force and proprietary technology. The company operates three key segments: SelectQuote Senior, SelectQuote Life, and SelectQuote Auto and Home, with SelectQuote Senior being the largest and fastest-growing segment due to increasing Medicare needs.
SelectQuote (NYSE: SLQT) has completed a secondary public offering of 10,600,000 shares at a price of $27.50 per share, sold by certain stockholders, including Brookside Equity Partners. SelectQuote did not receive any proceeds from this offering, which does not change the number of outstanding shares. An additional 1,590,000 shares may be purchased by underwriters within 30 days. Major financial institutions, such as Credit Suisse and Goldman Sachs, acted as bookrunners for this offering. The registration statement was effective as of March 3, 2021.
SelectQuote (NYSE: SLQT) has announced a secondary public offering of 10,600,000 shares of common stock by certain stockholders, priced at $27.50 each. The offering includes a 30-day option for underwriters to purchase an additional 1,590,000 shares. Importantly, SelectQuote will not receive any proceeds, as all shares are sold by the Selling Stockholders, which include Brookside Equity Partners LLC. The offering is scheduled to close on March 8, 2021, pending customary conditions.