Minneapolis startup Bloom Health is sold



By Pat Wechsler, Bloomberg

“WellPoint Inc. (WLP), the largest insurer by enrollment, is buying a private health-insurance exchange to compete for employers with the U.S. state-run marketplaces set to open in 2014 under President Barack Obama’s health-care overhaul.

WellPoint and two nonprofit health insurers purchased a 78 percent stake today in Bloom Health, a closely held benefits company in Minneapolis, for an undisclosed sum [Crain’s Detroit says < $10m] , WellPoint said. Bloom is a two-year-old online marketplace that offers a menu of health plans to about 20,000 workers at almost 50 companies.”

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