Bright Health Appoints New Chief Financial Officer
- Seasoned financial executive Cathy R. Smith will join Bright Health after announcing her retirement from Target last year
- New hire comes on the heels of Bright Health's recent $635M Series D funding round
MINNEAPOLIS, Jan. 6, 2020 /PRNewswire/ -- Today, Bright Health announced that Cathy R. Smith is joining the diversified consumer-focused healthcare company as its new chief financial officer. Bringing over 30 years of experience driving consumer-oriented growth, Smith will oversee Bright Health's financial reporting as well as the legal, human resources and accounting departments.
"Bright Health's approach to crafting broad-reaching, consumer-centric healthcare solutions is unique within the market," said Smith. "I've also been impressed by Bright Health's exceptional leadership team, first and foremost in the office of the CEO – Bob Sheehy has a proven track record of success over his three decades as an industry leader, and Mike Mikan has brought about transformational change in every leadership position he's held. I'm thrilled to join them to create one of the country's most innovative consumer healthcare brands."
As CFO, Smith will be responsible for driving Bright Health's financial performance as the company heads into a period of significant growth and diversification, following Bright Health's close of a $635M Series D funding round at the end of last year that brought total equity raised to over $1B. The new funding will be used to support Bright Health's aggressive growth and hiring as the company continues to strategically expand across products, geographies and consumer bases.
"As we continue to build a world class executive team here at Bright Health, we are committed to bringing together seasoned executives who think differently about healthcare and have a shared vision for transforming this industry," said Mike Mikan, Vice Chairman and President of Bright Health. "Cathy has distinguished herself as a financial leader capable of delivering results with a relentless focus on the consumer and she will play a crucial role in this next stage of our growth.
Smith served most recently as CFO of Target Corporation, where she played an integral role in the retailer's transformation program and subsequent strong performance over her four-year tenure. Prior to joining Target, she was the executive vice president and CFO at Express Scripts, the largest pharmacy-benefits manager in the country. She has also held CFO positions in several other consumer-oriented companies, including Walmart International and GameStop.
About Bright Health
Bright Health is a diversified consumer-focused healthcare and technology company, providing a broad range of innovative healthcare products and services for consumers and care providers in local markets throughout the U.S. Working in close alignment with Care Partners and doctors to create a virtually integrated healthcare system, Bright Health connects their members to personalized care teams, combining care and coverage to deliver high quality, simpler and more affordable everyday healthcare. Their health plans, which include individual, family and Medicare Advantage plans, are available in 22 markets across 12 states. Learn more at www.brighthealthinc.com.
SOURCE Bright Health
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