Medicare Advantage Insurer, Clover Health, To Go Public

Clover Health, a Medicare Advantage insurer, is planning to become publicly traded through a merger with Social Capital Hedosophia Holdings Corp. III., a special purpose acquisition company (SPAC). The Clover Health-Social Capital Hedosophia transaction is slated to close in the first quarter of 2021. It values Clover Health at $3.7 billion. Clover Health’s leadership team will continue to serve in their roles. Chamath Palihapitiya, founder and chief executive officer of Social Capital Hedosophia, will join Clover Health as a senior advisor to the management team.

Clover Health is a San Francisco-based Medicare Advantage insurer. Its in . . .