Bright Health made $924 million in its initial public offering late last week, setting a new high for insurers going public. Competitors Oscar Health, Clover Health and Alignment Health all went public earlier this year.
The IPO pricing values Bright Health at $11.23 billion, according to a report from Reuters. In its prospectus, filed Friday with the Securities and Exchange Commission, Bright Health boasted $1.2 billion in revenue for 2020 as well as about 623,000 members across its commercial and Medicare Advantage plans.
Bright Health offers coverage in 99 markets across 14 states.