NeueHealth, Inc. - BHG STOCK NEWS

Bright Health Group (NYSE: BHG) reaffirmed its 2021 revenue outlook of $4.1 to $4.2 billion and introduced a promising 2022 forecast of $6.3 to $6.5 billion, indicating over 50% growth. The company aims to serve over 875,000 members in Bright HealthCare and around 400,000 patients in NeueHealth. The enterprise medical cost ratio is expected between 86% to 88%, while adjusted EBITDA is projected at a loss of $400 to $500 million. Bright Health Group is focused on leveraging its aligned care model to enhance consumer outcomes and operational success.

Bright Health Group (NYSE: BHG) announced a $750 million financing round to support its growth, featuring investments from Cigna Ventures and existing shareholder New Enterprise Associates. The financing will involve the purchase of convertible perpetual preferred stock with a 5.0% dividend and an initial conversion price of $4.55 per share. The investment underscores confidence in Bright's innovative healthcare model. The transaction is expected to close in January 2022 and does not require additional regulatory approvals.

Bright Health Group (NYSE: BHG) subsidiary NeueHealth is set to expand its operations significantly in 2022, projecting approximately $2 billion in revenue. This growth is fueled by new clinic openings in Florida, Texas, and North Carolina, increasing their clinic count to over 70. NeueHealth is also entering the Direct Contracting program starting January 1, 2022, enhancing its service offerings. The company emphasizes the shift from fee-for-service to value-based care as a key driver of its growth strategy.

Bright HealthCare announced a new partnership with University of Florida Health, expanding its provider network in Northeast, North Central, and Central Florida. This collaboration enhances access for Bright HealthCare members in cities like Jacksonville and Gainesville to renowned facilities including UF Health Shands Hospital and UF Health Cancer Hospital. Bright HealthCare serves over 719,000 consumers across 14 states and aims to increase its footprint in the market. The Medicare enrollment period runs from Oct. 15 to Dec. 7 for coverage starting Jan. 1, 2022.

Bright HealthCare announces new healthcare plan options in Sarasota, Florida, expanding access to its Individual and Family Plans and Medicare Advantage products. Through partnerships with Sarasota Memorial Hospital and First Physicians Group, the expansion aims to serve thousands of additional eligible consumers starting January 1, 2022. The Medicare enrollment period runs from October 15 to December 7, while the Marketplace Open Enrollment is ongoing until January 15, 2022. Bright HealthCare currently serves over 719,000 consumers across 14 states.

Central Health Medicare Plan has been awarded the prestigious Senior Choice Gold Award by HealthMetrix Research for delivering exceptional value to its members across various California counties.

CHP offers affordable plans with no-cost premiums, copay-free doctor visits, and additional benefits like gym memberships and transportation to medical appointments. A new Central Health Savings Plan HMO is set to provide a $125 monthly rebate to members, increasing their Social Security checks by $1,500 annually.

Bright Health Group reported third-quarter 2021 revenues of $1,079 million, reflecting a 206% increase from Q3 2020. The company raised its end-of-year membership guidance for Bright HealthCare to 700,000, contributing to 2021 revenue guidance of $4.1-$4.2 billion. The medical cost ratio (MCR) rose to 103%, impacted by COVID-19 costs. The GAAP net loss was $296.7 million, up 237.5% year over year. Bright Health's focus remains on expanding its integrated care model into new markets like North Carolina and Texas.

Bright Health has partnered with MedArrive to improve healthcare access for over 10,000 new members in Charlotte, North Carolina. This initiative includes in-home preventive health visits conducted by skilled EMS professionals, supervised by physicians via telemedicine. In just a few months, more than 420 visits have been planned, with over 230 already completed. Bright Health aims to integrate care services to reduce access barriers and enhance health outcomes, aligning with its mission to deliver high-quality, affordable healthcare.

Joywell Foods, a company focused on sweet plant proteins, has appointed Ali Wing as its new CEO. Wing, who has a robust background in consumer goods and healthcare, previously served as Chief Consumer Officer at Bright Health (NYSE: BHG) and is an independent Director at Casey’s General Stores (NASDAQ: CASY). She aims to enhance Joywell's market presence by commercializing sweet proteins, which are significantly sweeter than sugar while being lower in calories. Joywell will sample their sweet protein popsicles at various events in the Bay Area starting October 28.