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Clover Health (Nasdaq: CLOV) introduces its 2022 Medicare Advantage plans aimed at providing affordable healthcare to underserved seniors across 209 counties in nine states, including Alabama, Arizona, and Texas. Enrollment begins on October 15 and extends until December 7, 2021, with coverage starting January 1, 2022. The plans offer low out-of-pocket costs, including $0 premiums and copays for primary care visits. Key benefits include over-the-counter allowances, dental, vision, and hearing coverage, affordable insulin prices, and access to telehealth and fitness classes, promoting comprehensive health support.
Clover Health (Nasdaq: CLOV) announced a significant expansion, gaining approval from the Centers for Medicare and Medicaid Services (CMS) to operate in 101 new counties starting January 1, 2022. This expansion nearly doubles their geographic footprint to 209 counties across nine states, including their new entry into Alabama. Eligible Medicare beneficiaries can enroll in Clover’s Medicare Advantage plans during the Annual Election Period from October 15 to December 7. This move aims to enhance access to affordable healthcare for underserved communities.
Clover Health has announced a partnership with MedArrive to provide in-home COVID-19 vaccinations for its medically complex and homebound members, starting in New Jersey. This initiative aims to address significant barriers to vaccination, particularly for seniors. The program is crucial as these populations face higher risks of serious illness from COVID-19. MedArrive's logistics platform will utilize healthcare professionals to improve patient outcomes and reduce hospital visits. Clover aims to enhance health equity and lower healthcare costs for its members by providing accessible, quality care.
Clover Health Investments, Corp. (Nasdaq: CLOV) has completed the redemption of all outstanding Public and Private Warrants as part of its IPO processes. As of September 13, 2021, approximately 97% of Public Warrants were exercised, resulting in 6,651,933 shares of Common Stock issued. The redemption generated cash proceeds of $385,653, and all Warrants have been delisted from trading. The company continues to trade its Class A Common Stock on the Nasdaq under the symbol CLOV, with no Warrants remaining outstanding.
Clover Health has partnered with athenahealth to provide clinical decision support via the Clover Assistant application. This integration allows Clover-contracted physicians to access personalized, data-driven insights while using their existing electronic health record (EHR) systems. The collaboration aims to reduce unnecessary documentation, enabling providers to focus more on patient care. Clover Health continues to prioritize improving health outcomes for seniors across multiple states in the U.S. with their Medicare Advantage plans.
Clover Health Investments, Corp. (Nasdaq: CLOV) announced that CEO Vivek Garipalli and President & CTO Andrew Toy will present at the 2021 Wells Fargo Virtual Healthcare Conference on September 9, 2021, at 3:20 p.m. Eastern Time. This presentation aims to highlight Clover Health's commitment to improving health equity for underserved seniors. A live webcast will be available on Clover Health's investor relations website, with an archived replay accessible for 12 months following the event.
For more information, visit Clover Health's investor relations page.
Clover Health Investments announced an extension for holders of its public warrants until September 9, 2021, at 5:00 p.m. NY time. This decision follows a prior announcement that all outstanding public warrants would be redeemed for $0.10 each. Currently, over 90% of the public warrants have been exercised. The warrants can be exercised for fully paid shares at $11.50 each or through a cashless option. Unexercised warrants by the new date will become void, only redeemable at the stated price. Clover Health aims to enhance access to healthcare for seniors.
Clover Health reported a robust total revenue of $412.5 million for Q2 2021, marking a 140% increase year-over-year, driven by the launch of Direct Contracting. Lives under management nearly doubled to 129,000 and the Clover Assistant is projected to manage over $1 billion in annualized revenue. Despite this growth, the company recorded a net loss of $(317.6 million) and a GAAP MA MCR of 111.0%. For full-year 2021, revenue is anticipated between $1.4 billion and $1.5 billion.
Clover Health (Nasdaq: CLOV) has announced the integration of FHIR (Fast Healthcare Interoperability Resources) within the Clover Assistant, enhancing interoperability in healthcare data. This implementation allows Clover Assistant to integrate seamlessly with FHIR-enabled EHRs like athenahealth and Epic, improving personalized healthcare recommendations for seniors. The first new feature is 'Deprescribing,' which helps physicians reduce harmful medications for patients. Clover aims to provide better healthcare access while managing costs effectively, focusing on improving outcomes for underserved seniors.
Clover Health (Nasdaq: CLOV) announced executives will present at KeyBanc's Virtual Technology Leadership Forum on August 12 at 2:00 p.m. ET. The event aims to highlight the company's commitment to improving health equity for underserved seniors in the U.S. A live webcast of the presentation will be available on Clover Health's investor relations website, along with an archived replay post-event. Clover Health’s mission focuses on providing affordable healthcare to seniors who have historically faced barriers in accessing high-quality care.
