✦ Bright Health plans to acquire California-based family-owned health plan Universal Care. Doing business as Brand New Day, the 37-year-old company serves Medicare-eligible seniors and special needs populations in 12 California counties with a focus on care management and patient-primary care relationships, according to a release from the companies. Venture-backed Bright Health started on the exchanges in 2016 and began selling MA plans in 2018; the company has since expanded its offerings by 300% and now sells plans in the individual and Medicare Advantage markets in 12 states. The Brand New Day transaction, which is expected to close this year and still requires regulatory approval, will give Bright Health a “strong presence in California with an established and philosophically aligned partner,” said President and Vice Chairman Mike Mikan. Read more at https://prn.to/39TQEPk.
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