Bright Health Inc. signed an agreement to acquire Central Health Plan of California, Inc., further expanding its presence in California and adding to its high-growth Medicare Advantage business. Upon closing, Bright Health will serve approximately 110,000 individuals within its Medicare Advantage business. This transaction will allow Bright Health to continue building scale and expanding its alignment model in this very important market segment.
Once complete, current employees and leadership of Central Health Plan are expected to join the Bright Health team and will continue to lead local market operations, ensuring continuity for members, providers and distribution partners. The transaction is subject to regulatory approval and is expected to close in the Spring of 2021.