Health insurance startup Bright Health closed its acquisition of Brand New Day, a California-based Medicare Advantage health plan, on April 30.
Bright Health said the transaction ties its technology-driven model with Brand New Day's localized strategy that connects members with complex conditions with primary care physicians to improve care coordination and outcomes.
The acquisition will add to Bright Health's individual, family and Medicare Advantage offerings, which are currently available in 13 states. Brand New Day will bring Bright Health a provider network of more than 7,300 primary care physicians and 22,300 specialists.
In addition, Brand New Day's leadership team will join Bright Health's.