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Benefytt Technologies has officially been acquired by funds affiliated with Madison Dearborn Partners for $31.00 per share in an all-cash tender offer. This acquisition has resulted in Benefytt transitioning to a private company, with approximately 95.2% of its outstanding Class A common stock validly tendered. The firm aims to capitalize on its tech-oriented mission to enhance consumer connections with Medicare and health insurance products. Benefytt's CEO, Gavin Southwell, will continue leading the company, focusing on strategic transformation and leveraging Madison Dearborn's expertise.
According to a recent survey by healthinsurance.com, seniors are increasingly adopting technology, with 60% embracing it more during the COVID-19 pandemic. Notably, there has been a 340% increase in telemedicine usage among Medicare recipients. The survey highlights that 38% of seniors haven't seen family in person since mid-March, and concerns over healthcare costs are prevalent, with 66% worried about out-of-pocket expenses. As the 2020 election approaches, 90% prioritize lowering drug prices, indicating significant shifts in the healthcare landscape for seniors.
According to a recent survey by healthinsurance.com, 60% of Americans are willing to risk their health to vote in person for the upcoming election. 50% of respondents cited economy and healthcare as the most important issues. A significant 92% believe prescription drug prices are too high, while 93% think medical costs exceed reasonable limits. Additionally, 74% of participants feel the U.S. requires another 'pause' to manage COVID-19, and 85% support mask mandates. Despite challenges, 60% intend to continue using telemedicine post-pandemic.
Benefytt Technologies (NASDAQ: BFYT) announces a telephone-access option for its 2020 Annual Meeting of Stockholders on May 12, 2020, at 12:30 p.m. ET, due to COVID-19 public health concerns. The meeting will address only essential business, with no presentations or Q&A sessions. Stockholders are encouraged to vote using online methods or by mail, as voting via telephone will not be permitted. Company officers will attend the meeting to conduct necessary business only. For more information, stockholders can contact the company directly.
