BHG - Bright Health narrows footprint to only offer Medicare Advantage in California Florida
- As part of its Fully Aligned Care Model Plan, Bright Health Group ( NYSE: BHG ) will no longer offer Medicare Advantage plans outside of California and Florid a.
- In addition, the health insurer will no longer offer individual and family plan products through its Bright HealthCare segment in 2023.
- Bright House ( BHG ) also said it has raised $175M in committed convertible preferred equity capital that is expected to close in the next few weeks.
- As a result of the changes, the company expects to be profitable on an adjusted EBITDA basis next year.
- Bright House is also maintaining its 2022 adjusted EBITDA at the midpoint of the range.
- Seeking Alpha's Quant Rating views Bright House ( BHG ) as a hold with high marks for valuation and growth .
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Bright Health narrows footprint to only offer Medicare Advantage in California, Florida