Cigna and its capital investment arm are partnering with New Enterprise Associates, Bright Health’s current largest shareholder, as the sole financiers of the investment, according to a Dec. 6 news release.
The financing aims to support continued growth, according to the Star Tribune.
The move also opens the door to collaboration between Cigna and Bright Health, according to the news release. Mike Mikan, Bright Health Group president and CEO, said he was “excited about the partnership opportunities” between the two companies.
“Cigna Ventures is committed to improving and expanding access to quality, affordable healthcare, and our investment in Bright Health Group aligns with our vision,” said Tom Richards, head of Cigna Ventures.
“We seek to be partners of choice and we look forward to exploring new ways that NeueHealth and Evernorth can potentially provide services to each other’s customers and clients,” he added, referring to Bright Health’s care delivery business and Cigna’s health services arm.
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