Simpson Thacher advised Bright Health Group on the deal.
Bright Health Group annouced their agreement to sell and issue 750,000 shares of Bright Health Group’s Series A Convertible Perpetual Preferred Stock to Cigna Ventures and New Enterprise Associates for an aggregate purchase price of $750 million.
Bright Health Group is the first technology-enabled, fully aligned system of care built for healthcare’s consumer retail market. Its differentiated approach aligns care delivery with the financing of care to drive better outcomes, lower costs and enhance the consumer experience. It has two market-facing businesses: NeueHealth and Bright HealthCare. NeueHealth provides care delivery and value-based enablement services through its 131 owned and affiliated clinics and broader Care Partner network. Bright HealthCare offers Commercial and Medicare health plan products to over 720,000 consumers across the nation. Bright Health Group believes everyone should have access to personal, affordable and high-quality healthcare. Its mission is to “Make healthcare right. Together.”
The Simpson Thacher team for this transaction includes Bill Brentani (Picture), Atif Azher, Jonathan Kachiu and Danielle Bembry (Corporate); Russell Light (Tax); Lori Lesser (Intellectual Property); Kelly Karapetyan (Antitrust); and Tristan Brown and Harry Hudesman (ECEB).
Involved fees earner: Atif Azher – Simpson Thacher & Bartlett; Danielle Bembry – Simpson Thacher & Bartlett; William Brentani – Simpson Thacher & Bartlett; Tristan Brown – Simpson Thacher & Bartlett; Harry Hudesman – Simpson Thacher & Bartlett; Jonathan Kachiu – Simpson Thacher & Bartlett; Kelly Karapetyan – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; Russell Light – Simpson Thacher & Bartlett;
Law Firms: Simpson Thacher & Bartlett;
Clients: Bright Health;