Bright Health Group Has Agreed To Sell Its California Medicare Advantage Business, Brand New Day And Central Health Plan To Molina Healthcare For $600M
Portfolio Pulse from Benzinga Newsdesk
Bright Health Group has agreed to sell its California Medicare Advantage business, Brand New Day and Central Health Plan, to Molina Healthcare for $600M.
June 30, 2023 | 10:50 am
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NEUTRAL IMPACT
Bright Health Group is selling its California Medicare Advantage business to Molina Healthcare for $600M.
The sale of the California Medicare Advantage business could potentially free up capital for Bright Health Group, but it also means losing a part of their business. The impact on the stock price is uncertain in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Molina Healthcare is acquiring the California Medicare Advantage business from Bright Health Group for $600M.
The acquisition of the California Medicare Advantage business could potentially increase Molina Healthcare's market share and revenues. This could have a positive impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100