Bright Health is always working to innovate healthcare systems and evolve as a company, and that sometimes lands us in the news. Stay connected to what we're doing across the country with press releases, news articles, and interviews.
Today, Bright Health announced an updated COVID-19 coverage policy that includes free diagnostic testing and early prescription refills. Under this policy, members whose care providers have ordered testing will have COVID-19 diagnostic tests covered as preventive care at no cost to them. In addition, Bright Health members who are concerned about accessing their prescriptions during the COVID-19 outbreak can have their next prescription refilled on an as-needed basis. Members should contact their pharmacist and ask them to request approval for early refills through the company's pharmacy help line.
Minnesota's biggest startup is only going to get bigger. Only 4 years old, Bright Health already has raised over $1 billion from investors, grown to 34 markets and reported revenue of $400 million in 2019. Minneapolis-based Bright is a health insurance company with 467 employees that offers Medicare Advantage plans for seniors and individual plans.
Today, Bright Health, a diversified consumer-focused healthcare company, announced it has signed an agreement to acquire California-based Universal Care (d.b.a. Brand New Day) health plan. The transaction will combine Brand New Day's local expertise and specialized clinical programs with Bright Health's nationally recognized leadership, next-generation technology and intelligence platform, and innovative personalized approach to healthcare. The transaction is subject to regulatory approval and expected to close in 2020.
Today, Bright Health announced that Cathy R. Smith is joining the diversified consumer-focused healthcare company as its new chief financial officer. Bringing over 30 years of experience driving consumer-oriented growth, Smith will oversee Bright Health's financial reporting as well as the legal, human resources and accounting departments.
Bright Health announced Tuesday that the startup health insurance company has raised another $635 million to support expansion efforts and build its technology platform. Since the company was launched in 2015, Minneapolis-based Bright Health has grown in markets where individuals buy coverage under the federal Affordable Care Act as well as by selling Medicare Advantage heath plans for seniors.