Simpson Thacher represented Bright Health Group, Inc. (“Bright Health Group”) in connection with its initial public offering of common stock. A total of 51,350,000 shares of common stock were sold in the offering. The offering raised approximately $924.3 million in gross proceeds. Shares of Bright Health Group are now listed on The New York Stock Exchange under the ticker symbol “BHG.”
Bright Health Group is built upon the belief that by aligning the best local resources in healthcare delivery with the financing of care, it can drive a superior consumer experience, optimize clinical outcomes, reduce systemic waste and lower costs. It has two market facing businesses: NeueHealth and Bright HealthCare. Through NeueHealth it delivers high-quality virtual and in-person clinical care to nearly 75,000 unique patients through its 61 affiliated risk-bearing primary care clinics. Through Bright HealthCare it offers Medicare and Commercial health plan products to approximately 623,000 consumers in 14 states and 99 markets.
The Simpson Thacher team included Bill Brentani, Hui Lin, Jessica Asrat, Ben Carson and Danielle Bembry (Capital Markets); James Rapp and Kelli Schultz (Public Company Advisory Practice); Tristan Brown and Alyssa Ohanian (Executive Compensation and Employee Benefits); Genevieve Dorment (IP); Mark B. Skerry and Laurel E. Fresquez (Regulatory); Vanessa K. Burrows (Healthcare); Jonathan Cantor and Abigail Hopper (Tax); Michael Isby (Environmental); and Steven R. DeLott (Insurance).