Bright Health to Expand into California through Planned Acquisition of Brand New Day Health Plan
- This transaction furthers the company's commitment to helping all consumers, including seniors and vulnerable Americans, build long-term provider relationships and receive higher quality, more affordable healthcare
- This transaction reaffirms Bright Health's commitment to the growing Medicare Advantage market
- This expansion will bring Bright Health Plan's national footprint to a total of 34 markets in 13 states, serving approximately 200,000 members
MINNEAPOLIS, Jan. 8, 2020 /PRNewswire/ -- Today, Bright Health, a diversified consumer-focused healthcare company, announced it has signed an agreement to acquire California-based Universal Care (d.b.a. Brand New Day) health plan. The transaction will combine 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. The transaction is subject to regulatory approval and expected to close in 2020.
"For 37 years, the Davis family and Brand New Day have been committed to improving their members' health in local communities throughout California," said Mike Mikan, President and Vice Chairman of Bright Health. "Their integrated approach to serving vulnerable populations with complex conditions aligns closely with our Health Plan Care Partner model. By combining our core strengths, we will be able to 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 and alignment across Bright Health Plan's business.
"We are impressed by Bright Health's seasoned leadership, national scale and depth of expertise. And the speed with which they've grown demonstrates the strength of their consumer-focused healthcare model," said Jeff Davis, CEO of Brand New Day. "We look forward to working alongside Bright Health leadership to deliver robust healthcare options to more consumers in California and beyond."
"This transaction gives Bright Health Plan a strong presence in California with an established and philosophically aligned partner," said Mikan. "But 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 22 markets across 12 states. Learn more at www.brighthealthinc.com.
About Brand New Day / Universal Care Universal Care (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.