Bright Health Sells Last California Medicare Advantage Insurance Asset To Molina For $600 Million

Bright Health sold its last insurance asset to Molina Healthcare Inc. for $600 million. The deal includes 100% of the issued and outstanding capital stock of Brand New Day and Central Health Plan of California. The plans are wholly owned subsidiaries of Bright Health Company of California, Inc (BHCA). Molina intends to fund the purchase with available funds including cash on hand. The transaction is subject to federal and state regulatory approvals, the solvency and continued operation as a going concern of Bright Health Group throughout the pre-closing period, and other closing conditions. It is expected to close in . . .