Bright Health Group's Subsidiaries Secure $380M Repayment Agreements with Centers for Medicare & Medicaid Services
Portfolio Pulse from Benzinga Newsdesk
Bright Health Group's insurance subsidiaries have entered into repayment agreements with the Centers for Medicare & Medicaid Services (CMS) for an aggregate amount of $380 million. The amount is due 18 months from September 15, 2023, and bears an interest rate of 11.5% per annum. Failure to make payments or entering into liquidation will result in a default.
September 19, 2023 | 11:12 am
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Bright Health Group's subsidiaries have secured a $380M repayment agreement with CMS. The debt is due in 18 months and carries an 11.5% interest rate.
The news of Bright Health Group's subsidiaries entering into a repayment agreement with CMS for $380M could potentially impact the company's financial stability and cash flow, especially considering the high interest rate of 11.5%. This could negatively affect the company's stock price in the short term.
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