Molina Healthcare and Bright Health Group have agreed to lower the purchase price of Molina buying Bright Health’s Medicare Advantage business, reducing it from $600 million to $500 million. The amended price reflects financial trouble for Bright Health due to debts it owes to JPMorgan and the federal government. Of the $500 million, $100 million is being put in an escrow account, which will be provided if certain obligations are met. Molina announced the purchase price amendment, stating it was down to $425 million. Bright Health reported a net loss of $1.4 billion in 2022 and decided to sell its MA business to focus on consumer care delivery.
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‘We’re Getting Closer and Closer To Bright Going Dark’: Molina Lowers Purchase Price for Bright Health Group’s MA Business
