BRIEF-Bright Health Group Strengthens Capital Position With Amendment To Its Credit Facility

Reuters2023-12-29

Dec 29 (Reuters) - Bright Health Group Inc :

* BRIGHT HEALTH GROUP STRENGTHENS CAPITAL POSITION WITH AMENDMENT TO ITS CREDIT FACILITY, IMPENDING CLOSE OF THE SALE OF ITS CALIFORNIA MEDICARE ADVANTAGE BUSINESS

* AMENDMENT WILL REDUCE FINAL REPAYMENT AMOUNT BY APPROXIMATELY $30 MILLION TO APPROXIMATELY $298 MILLION

* RECEIVED ALL REQUIRED REGULATORY APPROVALS ON SALE OF CALIFORNIA MEDICARE ADVANTAGE BUSINESS

* MEDICARE ADVANTAGE BUSINESS TRANSACTION IS EXPECTED TO CLOSE ON OR ABOUT JANUARY 1, 2024

* UPON CLOSING OF MA SALE AND REPAYMENT OF ITS SECURED DEBT, EXPECTS TO BEGIN 2024 WITH ABOUT $90 MILLION OF UNREGULATED CASH

* IN 2024, BRIGHT HEALTH WILL SOLELY FOCUS ON ITS CONTINUING BUSINESS, NEUEHEALTH

* OUTLOOK FOR 2024 IS EXPECTED TO BE POSITIVE ON AN EBITDA BASIS AFTER ADJUSTING FOR CERTAIN NON-CASH EXPENSES

* SUBJECT TO ADJUSTMENTS AND CONDITIONS IN MA SALE AGREEMENT, COMPANY EXPECTS TO RECEIVE AN ADDITIONAL $110 MILLION FROM ESCROW

Source text for Eikon: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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Bright Health Group Inc   :   * BRIGHT HEALTH GROUP STRENGTHENS CAPITAL POSITION WITH AMENDMENT TO ITS CREDIT FACILITY, IMPENDING CLOSE OF THE SALE OF ITS CALIFORNIA MEDICARE ...</p>\n\n<a href=\"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1854104046.USD","symbol_name":"M&G (LUX) POSITIVE IMPACT \"A\" (USD) ACC","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2395081750","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2395081750","pubTimestamp":1703850715,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"Dec 29  - 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