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Bright Health Files for IPO

What to know about the Bright Health IPO:

  • Minneapolis-based healthcare and medtech company (and funding juggernaut) Bright Health has filed paperwork with the SEC to go public
    • The company will offer stock under the ticker “BHG”
  • The move holds true to an April Bloomberg report that expected an IPO for the company in late Q2 with underwriters targeting a valuation as high as $20 billion
  • Details of the IPO, including size and timing, were not disclosed
  • Lead managers for the offering include JPMorgan Chase & Co., Goldman Sachs & Co., Barclays Plc., and Morgan Stanley with Nomura Holdings and RBC Capital Markets serving as co-managers
  • Reports indicate the company hit a revenue of $1.21 billion in 2020 with a net loss of $248.4 million
  • An extra bit of news in the filing is a potential new HQ for the company — a five-building campus in the Bloomington Normandale Lake Office Park

Be sure to read up on our previous Bright Health coverage and stay tuned for more IPO news.

Alex Skjong
Alex oversees the content produced for BETA, Twin Cities Startup Week, and When he’s not writing or editing, there’s a good chance he’s enjoying a refreshing brew and explaining the merits of heavy metal (of which there are many).