Clover Health Investments, Corp - CLOV STOCK NEWS

Clover Health (NASDAQ: CLOV) has appointed Conrad Wai as Chief Technology Officer (CTO) to enhance the development of the Clover Assistant platform. Reporting to President Andrew Toy, Wai aims to leverage his extensive background in technology and healthcare to drive innovation. His previous roles include Senior Vice President of Product at Hinge Health and leadership positions at Yahoo and Google. Clover Health focuses on improving healthcare accessibility for seniors through its proprietary platform, promoting better clinical decision-making.

Clover Health (CLOV) reported fourth-quarter revenue of $432 million, a 160% increase year-over-year, largely driven by a 223% growth in lives under Clover Assistant management. For 2022, total revenue is expected to surpass $3 billion, with a growth rate of 90% in lives under management. The company anticipates a decrease in operating expenses as a percentage of revenue and improvements in the Medical Care Ratio (MCR). Despite a net loss of $187.2 million in Q4, management remains optimistic about future profitability on a non-GAAP basis.

Clover Health (Nasdaq: CLOV) will present at Citi's 2022 Virtual Healthcare Conference on February 24, 2022, at 2:45 p.m. ET. CEO Vivek Garipalli and President Andrew Toy will lead the presentation. Investors can access the live webcast on Clover Health's investor relations website, with a replay available for 12 months post-event. Clover Health focuses on enhancing health equity for seniors through its innovative software, Clover Assistant, which aids in clinical decision-making and health outcomes. The company operates Medicare Advantage plans and supports physicians in value-based care.

Clover Health (Nasdaq: CLOV) announced it will report its fourth quarter and full year 2021 financial results on February 23, 2022, after market close. Management will host a conference call and webcast at 5:00 p.m. ET to discuss these results. Investors can access the call by dialing 866-342-8591 (U.S. callers) or 203-518-9713 (international), using conference ID CLOVQ421. A live and archived webcast will be available on the company's Investor Relations page for one year.

Clover Health (Nasdaq: CLOV) reported a 25% growth in Medicare Advantage membership compared to early 2021, significantly surpassing the industry's average growth of around 10%. As of January 2022, Clover has exceeded its average membership guidance of 82,000 lives. The company experienced remarkable growth in Georgia, tripling its membership and expanding its provider network to include 5,000 new primary care physicians. Clover aims to enhance health equity for underserved seniors through affordable, benefit-rich plans and innovative care delivery.

Clover Health (Nasdaq: CLOV), a company focused on enhancing health equity for seniors, will have its CEO, Vivek Garipalli, and President, Andrew Toy, present at the 40^th Annual JP Morgan Virtual Healthcare Conference on January 11, 2022, at 5:15 p.m. ET. The event aims to discuss the company’s initiatives in providing affordable healthcare access. Interested parties can access a live webcast on Clover Health's investor relations website, with an archived replay available for 12 months post-event.

Clover Health (Nasdaq: CLOV) announced an enhanced partnership with Cricket Health, integrating comprehensive kidney care services into its Clover Assistant, aimed at supporting patients with chronic kidney disease (CKD). This new feature allows physicians to access personalized recommendations and care coordination, promoting early disease detection and intervention. The initiative targets Medicare Advantage beneficiaries, addressing CKD's often undiagnosed status. Patients will receive multidisciplinary support through the MyCricket™ program, enhancing care and potentially reducing long-term healthcare costs.

Clover Health Investments, Corp. (Nasdaq: CLOV) announced the successful closing of its underwritten public offering on November 22, 2021, raising approximately $300 million in gross proceeds. As part of the offering, underwriters received a 30-day option to purchase up to 7,826,086 additional shares. Citigroup and Deutsche Bank Securities acted as joint book-running managers, with SVB Leerink and Canaccord Genuity LLC as book-runners. This offering was conducted under the SEC's registration statements.

Clover Health announced the pricing of an underwritten public offering of 52,173,913 shares of Class A Common Stock at $5.75 per share, aiming for gross proceeds of approximately $300 million. The underwriters have a 30-day option to purchase an additional 7,826,086 shares. The offering is expected to close around November 22, 2021. The net proceeds will be used for working capital and general corporate purposes. Citigroup and Deutsche Bank Securities are managing the offering.