Bright Health Group recently announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (“SEC”) relating to a proposed initial public offering of its common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. Bright Health Group intends to apply to list its common stock on the New York Stock Exchange under the symbol “BHG”.

Highlights from Bright’s Form S-1:

  • $1.2 Billion in Total Revenues in 2020 and $874.6 million in Total Revenues for the three months ended March 31, 2021
  • Bright Health Group includes two market facing businesses:
    • NeueHealth which delivers high-quality virtual and in-person clinical care to patients through affiliated risk-bearing primary care clinics
    • Bright HealthCare offers health insurance policies across multiple lines of business, primarily attributable to Individual and Family Plan products and Medicare Advantage
  • Bright serves 623,000 Bright HealthCare members across 14 states and 99 markets:
    • 515,000 Commercial (IFP, Small Group, Large Group)
    • 108,000 Medicare Advantage members, which includes members acquired from Universal Care, Inc., d.b.a. Brand New Day
  • Bright Health enters markets via market alignment principles to meet the unique needs of local communities
  • Bright notes a key factor in their succss is “our ability to retain and incentivize our broker network”

Read the full press release