NeueHealth, Inc. - BHG STOCK NEWS

NeueHealth Partners Community ACO has been provisionally accepted into the ACO REACH model, starting January 1, 2023. This initiative, a collaboration between NeueHealth and Medical Home Network, aims to support Federally Qualified Health Centers in transitioning to value-based care. The ACO will serve approximately 20,000 Medicare beneficiaries across Missouri, Ohio, Michigan, and Indiana. The model focuses on improving care coordination and advancing health equity for underserved communities, leveraging MHN's proven care management strategies.

Bright Health Group reported a Q3 2022 revenue of $1.6 billion, a 51.3% increase from Q3 2021. Despite a GAAP net loss of $259.4 million, the company improved its Enterprise Medical Cost Ratio to 90.6%, down from 103.0% the previous year. Adjusted EBITDA loss was $82.9 million. The company revised its 2022 guidance, reducing the expected cost ratio to 90%-92% and adjusting EBITDA loss to $550-$700 million. Bright Health Group aims for Adjusted EBITDA profitability in 2023.

Bright Health Group, Inc. (NYSE: BHG) will report its Third Quarter financial results on November 9, 2022, before markets open, followed by a conference call at 8:00 AM Eastern Time. Investors can join the call by pre-registering for access details. Bright Health focuses on managing population risk through its technology-enabled, value-based healthcare model, serving underserved consumers in Florida, Texas, and California, which house a significant portion of the U.S. aging population.

Bright Health Group (NYSE: BHG) has successfully closed its offering of 175,000 shares of Series B convertible perpetual preferred stock, raising $175 million in aggregate proceeds. This investment highlights confidence in the company's focused business model and its commitment to providing value-based healthcare. Bright Health Group operates primarily in Florida, Texas, and California, targeting the aging and underserved populations. Further details are expected in a Form 8-K filing with the SEC.

Bright Health Group (NYSE: BHG) has reaffirmed its 2022 Adjusted EBITDA guidance while accelerating its path to profitability by 2023. The company will cease offering Individual and Family Plans and Medicare Advantage products outside California and Florida. It has raised $175 million in convertible preferred equity to support its business model focused on risk-bearing care delivery. Bright Health aims for a balanced $3 billion Net Revenue in 2023 and expects to release $250 million in regulated capital through market exits.

Bright Health Group, Inc. (NYSE: BHG) reported Q2 2022 revenue of $1.6 billion, a substantial 41.5% increase from Q2 2021. Despite this growth, the company suffered a GAAP net loss of $251.3 million and an Adjusted EBITDA loss of $194.9 million. The Medical Cost Ratio rose to 88.8%, compared to 86.8% in the prior year. For 2022, revenue guidance is between $6.8 billion and $7.1 billion, with an expected Adjusted EBITDA loss of $500 million to $800 million.

Bright Health Group, Inc. (NYSE: BHG) is set to report its Second Quarter financial results on Wednesday, August 10, 2022, before market opening, followed by a conference call at 8:00 AM Eastern Time.

Bright Health operates a technology-enabled system of care focused on the healthcare consumer retail market. The company provides services through its businesses, NeueHealth and Bright HealthCare, serving over 1.1 million consumers.

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Bright Health Group (NYSE: BHG) has announced the appointment of Michael Carson as CEO of Bright HealthCare and Jeff Cook as CEO of NeueHealth. Both executives will report to CEO Mike Mikan and focus on enhancing operational excellence and value-based care. Carson, with a strong background in healthcare leadership, aims to drive innovative solutions in Bright HealthCare, while Cook will develop integrated care systems at NeueHealth. Transition support will be provided by outgoing CEOs, with Carson and Cook joining in June.