Bright Health Completes Acquisition of Brand New Day Health Plan Bringing its Groundbreaking Model to California Seniors
- The acquisition marks Bright Health Plan's entry into the California market, building upon five years of rapid geographic expansion since the company's founding.
- This transaction furthers Bright Health's commitment to helping all consumers, including seniors and vulnerable Americans, build long-term provider relationships and receive higher quality, more affordable healthcare.
MINNEAPOLIS, May 1, 2020 /PRNewswire/ -- Today, Bright Health, a diversified consumer-focused healthcare company, announced it has closed on the acquisition of California-based Universal Care Inc. (d.b.a. Brand New Day) health plan. This transaction combines Brand New Day's local expertise and specialized clinical programs with Bright Health's nationally recognized leadership, next-generation technology and intelligence platform, and innovative personalized approach to healthcare. Bright Health announced its planned acquisition of Brand New Day in January of this year, and the transaction received regulatory approval on April 22 and closed on April 30.
"Bright Health is committed to transforming healthcare by combining our innovative technology model with the knowledge and expertise of local partners," said Mike Mikan, Chief Executive Officer and President of Bright Health. "Brand New Day has developed a strong clinical model of care designed to serve member populations with complex conditions and improve outcomes. By combining our core strengths, we can deliver an even better experience for our members across the country."
Brand New Day was founded in 1983 by the Davis family to improve health outcomes through an emphasis on complex care management, population health and strong relationships between patients and their primary care physicians. Current leadership, including Jeff and Jay Davis, will join the Bright Health Plan leadership team and will continue to lead local market operations, ensuring continuity for Brand New Day members. Brand New Day member benefits will remain unchanged as a result of the acquisition.
"With their seasoned leadership team and unique consumer-centric approach to health care, Bright Health brings tremendous opportunities for Brand New Day's employees, members, providers and other partners," said Jeff Davis, CEO of Brand New Day. "We are thrilled to be joining the Bright Health team and together, we'll be able to provide better healthcare options to more consumers in the state of California and beyond."
"This transaction gives Bright Health Plan a strong presence in California with an established and philosophically aligned partner," said Mikan. "Beyond that, it positions us to leverage this partnership to bring key elements of Brand New Day's patient-first, integrated clinical model of care to all our members across product lines and geographies."
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 34 markets across 13 states. Learn more at www.brighthealthinc.com.
About Brand New Day / Universal Care Universal Care Inc. (d.b.a. Brand New Day) has been a leader in providing healthcare services in California for over 35 years. Brand New Day serves Medicare eligible seniors and special needs populations in 12 counties through their extensive provider network of over 7,300 PCPs and 22,300 specialists. They combine deep analytics and evidence-based clinical programs with aligned provider relationships to provide high quality, affordable care for complex and vulnerable populations. They have a long-standing commitment to providing local, community-based care to individuals in a personalized manner to improve health and quality of life. For more information, visit www.BNDHMO.com or call (866) 255-4795.