MINNEAPOLIS, April 23, 2020 /PRNewswire/ -- Bright Health's Board of Directors announced today that current President G. Mike Mikan will become Chief Executive Officer and President, effective April 30th. Mikan takes over as CEO from Bob Sheehy, who has served in the role since the company's founding in 2015. Sheehy will transition to serving as Executive Chairman of the Board and will continue to work closely with the Board of Directors and the senior management team.
Mikan has served alongside Sheehy for the past 15 months in the Office of the CEO. Together, they have positioned the company for continued success by driving significant market expansion, diversifying products and services and recruiting a world-class team. This growth has been fueled by a record-breaking $635 million in equity from its Series D offering at the end of last year.
"We started Bright Health over four years ago with a singular goal – to transform healthcare. And we've already accomplished so much," said Sheehy. "I'm deeply proud of the foundation we have laid and of the incredible growth Mike and I have achieved working together. I know he is the right person to lead Bright Health into its next chapter."
"Bright Health is fundamentally changing the health care experience in this country," said Mikan. "Our technology-enabled alignment model solves the problems created by a disjointed care delivery system, which allows us to provide our members with true value-based care. With this model and the advanced intelligence it affords us, I see unlimited potential for new product development and diversification through collaborative financial alignment across the industry."
Kedrick Adkins and Naomi Allen joined the company as independent board members earlier this year, and Jeff Immelt will be added to the Board of Directors on April 30th.
Jeff Immelt, former Chairman and CEO of General Electric and current venture partner at New Enterprise Associates, transformed GE's employee health care program during his tenure, creating a company-wide, value-based model that reduced health care costs by 20%. Kedrick Adkins, former CFO of Mayo Clinic, previously served in a variety of executive leadership roles over three decades at Accenture Ltd., including as Global Chief Diversity Officer and Health Care Industry Managing Partner. Naomi Allen, CEO and Co-Founder of Emilio Health, was previously Chief Growth Officer at digital health company Livongo where she led key strategic growth initiatives for the company, including new markets and acquisition operations.
"We couldn't be more excited to work with each of these leaders and leverage their capabilities and broad expertise to help guide us through the next phase of growth with the company and into the future," said Sheehy.
About Bright Health
Bright Health is a diversified consumer-focused health care and technology company, providing a broad range of innovative health care 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 health care system, Bright Health connects their members to Personalized Care Teams, combining care and coverage to deliver high quality, simpler and more affordable everyday health care. 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.
SOURCE Bright Health