Bright Health raises $175M to shore up shaky finances

Bright Health Group has closed a $175 million investment round as the health insurer works to stabilize its troubled finances. 

The insurtech sold 175,000 shares of Series B stock to support its newly “focused business,” the company announced Wednesday. The capital raise follows a strategic pivot to focus solely on Medicare Advantage and on direct patient care through its NeueHealth provider arm. Bright Health did not immediately…