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Medicare Plan Issuer Closes on $750M in Funding: Finance

Share this…FacebookPinterestTwitterLinkedin What You Must Know Vivid Well being supplies well being care together with well being protection. Zing sells…

By Staff , in Medicare , at January 10, 2022



What You Must Know

  • Vivid Well being supplies well being care together with well being protection.
  • Zing sells Medicare Benefit plans that target serving to sufferers with meals, transportation and different social determinants of well being.
  • Plum Life helps life insurance coverage advisors transfer their operations on-line.

Well being insurers have introduced greater than $860 million in financing offers just lately, and a doctor efficiency monitoring agency and a digital assist service for all times insurance coverage brokers have raised greater than $22 million in further funding.

Vivid Well being, a Minneapolis-based well being insurer with shares that commerce on the New York Inventory Trade, led the group.

Vivid Well being has closed on $750 million in funding.

The corporate raised the money by promoting perpetual most popular inventory to subsidiaries of Cigna Corp. and associates of New Enterprise Associates. New Enterprise Associates is an funding firm.

The brand new most popular shares can pay a 5% dividend. The holders of the brand new shares can convert them into frequent inventory at an preliminary conversion value of $4.55 per share, or 25% greater than the worth the shares have been promoting for earlier than the popular share providing was introduced.

Vivid Well being supplies well being care by way of its NeueHealth unit and business and Medicare plan protection for 720,000 folks by way of its Vivid HealthCare unit.

Stride

Stride Well being has raised $47 million from a gaggle of buyers that features King River Capital, an funding agency.

The investor group additionally consists of MasterCard and Allstate.

Stride is a San Francisco-based firm with an app that helps the unbiased contractors who work with Uber, DoorDash, Instacart and different firms observe mileage, bills and taxes.

Firms resembling Uber can use the app to assist steer part-time employees and unbiased contractors towards the Inexpensive Care Act public change system, and towards an internet site that provides different advantages and providers geared toward gig employees.

The Stride app has 2.7 million customers.



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