Bright Health Group Adopts NeueHealth as Corporate Brand Name
January 17 2024 - 4:05PM
Business Wire
The Company will advance its value-driven,
consumer-centric care model through its owned and affiliated
clinics and provider enablement services
Bright Health Group, Inc. (“Bright Health” or the “Company”)
(NYSE: BHG) today announced that it has adopted NeueHealth as its
corporate brand name. This reflects the Company’s ongoing focus on
its NeueHealth business, which will continue driving long-term
sustainable growth of its value-driven, consumer-centric care
model, thereby increasing access to high-quality healthcare for all
populations across the ACA Marketplace, Medicare, and Medicaid. The
Company’s common stock will begin trading under the new ticker
symbol “NEUE” on the New York Stock Exchange (NYSE), effective
January 29, 2024.
“Taking the NeueHealth name signifies our commitment to
delivering value through our differentiated care model that
uniquely aligns the interests of health consumers, providers, and
payors,” said Mike Mikan, President and CEO of NeueHealth. “Our
NeueHealth identity has been a core and successful part of our
organization’s story, and we look forward to building on its strong
performance as we take the lead in the industry’s shift to
value-based care.”
NeueHealth currently serves more than 500,000 health consumers
and partners with more than 3,000 affiliated providers across the
country. NeueHealth consists of two segments, NeueCare and
NeueSolutions, each focused on creating a seamless, coordinated
care experience that maximizes value for health consumers,
providers, and payors.
NeueCare: delivers value-driven healthcare to health
consumers across the ACA Marketplace, Medicare, and Medicaid
through owned clinics and partnerships with affiliated providers
across the country. NeueCare takes a consumer-centric approach,
developing a true relationship with patients early in their
healthcare journey to deliver a high-quality, personalized care
experience.
NeueSolutions: enables independent providers and medical
groups to succeed in performance-based arrangements through deep
financial alignment, customized population health tools, and strong
partnerships with leading health plans and government programs,
including participation in the Centers for Medicare and Medicaid
Innovation’s (“CMMI”) ACO Realizing Equity, Access, and Community
Health (REACH) program.
The Company will also relocate its corporate headquarters from
Minneapolis to Doral, Florida. NeueHealth has had a strong presence
in Florida through its Centrum Health, AssociatesMD, and Premier
Medical Associates clinics, which have operated in the state for
more than 20 years and serve more than 150,000 health consumers in
Florida. The relocation underscores NeueHealth’s commitment to
advancing its value-driven care model and deepening its presence in
the local communities it serves. The relocation will not impact
jobs in Minneapolis, where the Company will continue to operate
certain corporate and administrative functions.
Branding across the Company will be transitioning over the
coming months.
About NeueHealth
NeueHealth is a value-driven healthcare company grounded in the
belief that all health consumers are entitled to high-quality,
coordinated care. By uniquely aligning the interests of health
consumers, providers, and payors, NeueHealth helps to make
healthcare accessible and affordable to all populations across the
ACA Marketplace, Medicare, and Medicaid. NeueHealth delivers
high-quality clinical care to over 500,000 health consumers through
owned clinics and unique partnerships with over 3,000 affiliated
providers. We also enable independent providers and medical groups
to thrive in performance-based arrangements through a suite of
technology and services scaled centrally and deployed locally. We
believe our value-driven, consumer-centric care model can transform
the healthcare experience and maximize value across the healthcare
ecosystem. For more information, visit: www.neuehealth.com.
Forward-Looking Statements
Statements made in this release that are not statements of
historical fact, including statements about our beliefs and
expectations, are forward-looking statements and should be
evaluated as such. Forward-looking statements include information
concerning possible or assumed future results of operations,
including descriptions of our business plan and strategies. These
statements often include words such as “anticipate,” “expect,”
“plan,” “believe,” “intend,” “project,” “forecast,” “estimates,”
“projections,” “outlook,” “ensure,” and other similar expressions.
These forward-looking statements include any statements regarding
our plans and expectations. Such forward-looking statements are
subject to various risks, uncertainties and assumptions.
Accordingly, there are or will be important factors that could
cause actual outcomes or results to differ materially from those
indicated in these statements. Factors that might materially affect
such forward-looking statements include: our ability to continue as
a going concern; our ability to comply with the terms of our credit
facility, including financial covenants, both during and after any
waiver period, and/or obtain any additional waivers of any terms of
our credit facility to the extent required; our ability to receive
the remaining proceeds from the sale of our Medicare Advantage
business in California in a timely manner; our ability to obtain
any short or long term debt or equity financing needed to operate
our business; our ability to quickly and efficiently complete the
wind down our IFP businesses and MA businesses outside of
California, including by satisfying liabilities of those businesses
when due and payable; potential disruptions to our business due to
corporate restructuring and any resulting headcount reduction; our
ability to accurately estimate and effectively manage the costs
relating to changes in our businesses offerings and models; a delay
or inability to withdraw regulated capital from our subsidiaries; a
lack of acceptance or slow adoption of our business model; our
ability to retain existing consumers and expand consumer
enrollment; our and our Care Partner’s abilities to obtain and
accurately assess, code, and report risk adjustment factor scores;
our ability to contract with care providers and arrange for the
provision of quality care; our ability to accurately estimate our
medical expenses, effectively manage our costs and claims
liabilities or appropriately price our products and charge
premiums; our ability to obtain claims information timely and
accurately; the impact of any pandemic or epidemic on our business
and results of operations; the risks associated with our reliance
on third-party providers to operate our business; the impact of
modifications or changes to the U.S. health insurance markets; our
ability to manage the growth of our business; our ability to
operate, update or implement our technology platform and other
information technology systems; our ability to retain key
executives; our ability to successfully pursue acquisitions and
integrate acquired businesses; the occurrence of severe weather
events, catastrophic health events, natural or man-made disasters,
and social and political conditions or civil unrest; our ability to
prevent and contain data security incidents and the impact of data
security incidents on our members, patients, employees and
financial results; our ability to comply with requirements to
maintain effective internal controls; our ability to adapt to the
new risks associated with our ACO Reach businesses, including any
unanticipated market or regulatory developments; and the other
factors set forth under the heading “Risk Factors” in the Company’s
reports on Form 10-K, Form 10-Q, and Form 8-K (including all
amendments to those reports) and our other filings with the SEC.
Except as required by law, we undertake no obligation to update
publicly any forward-looking statements for any reason after the
date of this release to conform these statements to actual results
or changes in our expectations.
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version on businesswire.com: https://www.businesswire.com/news/home/20240117167864/en/
Investor Contact: IR@neuehealth.com
Media Contact: media@neuehealth.com
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